EcoBank Fintech Challenge is calling on developers and innovators with bright ideas for financial technology to share their vision of creating Africa’s next big fintech solution with them. Up to $500,000 will be won by technopreneurs who successfully pitch the most interesting and viable solutions.
Application Deadline: 16th September, 2022
Eligible Countries: African countries
To be taken at (country): Top teams will be selected to pitch at the bank’s Innovation Fair, which will be held at the global headquarters of Ecobank in Lomé.
Eligible Fields: Teams are to submit applications addressing one or more of the following challenges
- Customer Experience
- Financial Inclusion
- Credit Scoring
- Ecosystem Aggregation
- Internal Tools
- Any Other Relevant Product Categories
About the EcoBank Fintech Challenge: The Ecobank Fintech Challenge identifies and partners Fintechs that are ready to scale and provides them with support and access to opportunities in Ecobank’s 33 African markets. The goal? To contribute to their growth as potential Pan African Fintech success stories.
The Challenge is open to all Fintechs on the African continent. Interested Fintechs can apply by sending details of their product as well as a demo here. These products must address one or more of a specific set of pain points which can be found here.
The selected finalists participate in the Ecobank Fintech Innovation Fair, with the top 3 finalists winning cash prizes. All finalists are inducted into the Ecobank Fintech Fellowship, which affords them the opportunity to explore deals, integration and commercial partnership with the Ecobank Group.
- All African startups and technology innovators are eligible to apply for the EcoBank Fintech Challenge. They are to choose from different areas of interest as listed on the website and build a demo to serve as prototype — applicants without demo would be disqualified.
- The Challenge is open to both teams and individuals.
- Teams can submit solutions for more than one challenge but are limited to only one entry per challenge (“Entry”).
- Individuals are not allowed to participate in multiple teams. Switching teams after applying is not allowed. Ecobank will cover travel and accommodation costs for up to two participants from each team.
Number of Awardees: 20 teams
Value of Contest:
Become a finalist; get inducted as an Ecobank Fintech Fellow and stand a chance to explore the following opportunities:
- Multinational Product Roll Out: Once in a lifetime opportunity to pursue integration with Ecobank and potentially launch products in Ecobank’s over 30 markets across Africa.
- Competition Cash Prizes: The ultimate winner will be awarded a cash prize of $50,000.
- Service Provider Partnerships: Start-ups may be selected by Ecobank as local country-level partner in any of Ecobank’s 33 country ecosystem.
- Access To Ecobank’s Pan-African Banking Sandbox: Fellows will be given access to a dedicated team to support on the Ecobank’s APIs test to enable them improve their products for the pan-African market.
- Access To Partner Network: Founders will be inducted as Ecobank Fintech Fellows, granting them access and relationships to a vast network of global and African Accelerators and potential Investors as well as mentors.
- Integration With Existing Ecobank Digital Offerings: The EcoBank Fintech Challenge offers opportunities for Fintechs to potentially integrate with Ecobank’s existing digital offerings. The existing digital offerings include Ecobank Omni, Ecobank electronic financial supply chain(eFSC), Ecobank Xpress, Ecobank Mobile APP or USSD, MasterPass™ QR, mVISA™ & mCash, etc. You can learn more about these platforms HERE. We’d like applicants to pitch us how their solutions can add value to these existing Ecobank digital offerings.
How to Apply for the EcoBank Fintech Challenge: Interested participants can apply here