]The 2024 Ecobank Fintech Challenge has opened applications for early stage and mature startups to partner with Ecobank in its 35 African markets.
Details
This annual competition invites early stage and mature fintech startups to partner with Ecobank, offering grand prize of US$50,000 and an opportunity to scale their solutions across Ecobank’s extensive network spanning 35 African countries.
Because this matters
Despite the fintech boom on the African continent, a McKinsey report reveals that fintech startups in Africa still face many challenges, such as achieving scale, navigating an uncertain regulatory environment or managing a lack of funding.
The Ecobank Fintech Challenge provides a unique opportunity for Fintech Entrepreneurs to address these challenges, not only offering financial rewards, but also providing Ecobank’s expertise in diversified market operations and the right solutions to scale across its pan-African and international presence. presence, like France.
What they say
βBuilding partnerships with fintechs is a catalyst for advancing financial inclusion in Africa. At Ecobank, we prioritize fintech in our Growth, Transformation and Returns strategy “, he said Jeremy AvoriCEO of Ecobank Group.
“We have enhanced this new edition of the Ecobank Fintech Challenge to continue to provide fintech entrepreneurs with a premier platform to showcase innovative solutions, while creating unparalleled opportunities for growth and expansion across 35 markets in Africa.”
Zoom out
Last year’s competition gathered 1,490 entries of real quality, which underlines the importance of this pan-African challenge. Successful applicants who make it to the Grand Final and Awards Ceremony in October 2024 will have the opportunity to participate in the coveted Ecobank Fintech Fellowship program, with the overall winner receiving a cash prize of USD 50,000.
Chances
Ecobank Fintech Fellows will gain access to numerous opportunities through working with Ecobank and its partners, such as potentially:
- Dissemination of multinational products: an opportunity to integrate their solutions with Ecobank, opening doors to potential product launches within Ecobank’s extensive 35-country Pan-African network.
- Service Provider Partnerships: Selected fintechs may become Pan-African service partners in the Bank’s ecosystem.
- Access to Ecobank’s Pan-African Banking Sandbox: Fellows will have exclusive access to Ecobank’s cutting-edge APIs, enabling them to test and develop their products for the Pan-African market.
- Priority access to Ecobank’s Venture Capital partners for exploration funding.
Applications for the 7th Ecobank Fintech Challenge are now open to fintechs and developers from across Africa, as well as global fintechs with an African focus. Interested parties can find out about the competition and submit their applications through the official website: EcobankFintechChallenge.com
The deadline for entries is July 7, 2024.
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