Ecobank Fintech Challenge - Afrikan Heroes

Ecobank Group Launches 2022 Edition of its Fintech Challenge

August 25, 2022

Fintech Challenge offers early stage and mature start-ups the potential to partner with Ecobank across 33 African countries; Applications open until 16 September.

Pan-African banking group, Ecobank Group, has launched the fifth edition of the Ecobank Fintech Challenge and encourages African Fintech entrepreneurs to enter the competition.

Fintechs that are aligned with the Bank’s strategic objectives stand a chance to win an overall cash prize of US$50,000 for the top winner and the opportunity to partner and scale their solutions across Ecobank’s 33 African markets.

Fintech companies and developers originating from any of Africa’s 54 countries, as well as global Africa-centered Fintechs, are eligible to enter the Fintech Challenge by visiting: https://bit.ly/3KnrDz2. Applications can be made until 16 September 2022.

Ten finalists will be inducted into the Ecobank Fintech Fellowship after the finals and awards ceremony which will take place in October 2022.

In addition, all Fellows will qualify to explore the following opportunities with the Bank and its partners:

Multinational products roll out: an opportunity to pursue integration with Ecobank and potentially launch products in all or part of Ecobank’s pan-African 33-country ecosystem.

Service provider partnerships: Ecobank may select some Fintechs as pan-African service partners within the Bank’s ecosystem.

Access to Ecobank’s Pan-African Banking Sandbox: Fellows will be given access to Ecobank’s APIs to test and improve their products for the pan-African market.

Priority Access to Ecobank’s Venture Capital partners for funding exploration.

Ade Ayeyemi, Chief Executive Officer, Ecobank Group, said “Ecobank believes that the only way to transform financial services in Africa is for Pan-African banks like Ecobank to continually support and collaborate with innovative Fintechs and start-ups. We invite and welcome Africa’s best Fintechs to work with us through the 2022 Challenge.”

Dr. Tomisin Fashina, Operations and Technology Executive, Ecobank Group said, “The uniqueness of the Challenge is that it welcomes both early stage and mature start-up Fintechs alike and seeks to align them with different kinds of partnership opportunities within Ecobank that match their differing levels of maturity.”

The Ecobank Fintech Challenge was designed in partnership with international advisory firm, Konfidants and is supported by partners across Africa and globally. So far 46 Fellows have been admitted into the Ecobank Fintech Fellowship programme since it was launched in 2017.

For more information about the competition, its benefits and how to apply, please visit https://bit.ly/3AMixIM

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Ghanaian Startup Nokwary Wins Ecobank’s 2020 Fintech Challenge

August 26, 2020

Ecobank Group has announced the winners of its 2020 Ecobank Fintech Challenge from a virtual event that was streamed live from Accra, Ghana. Prior this, Ecobank earlier this month had revealed its 10 finalists emerging from seven countries to compete for a share of USD$22,000.

“The quality of the products and pitches we saw in the final this year were amazing. Clearly it is evident that Banking in Africa is moving onto a new dimension with these Fintechs leading the way. That is why we are so proud to have had them in this year’s competition and are excited to engage further with them over the next year. It is our expectation that we will build a few lasting partnerships which will help improve the lives of Africans all over the continent,” Ade Ayeyemi, Ecobank Group CEO said, congratulating the winners for their innovation and welcomed all the 2020 fellows.

Here Is What You Need To Know

Nokwary Technologies, edged out the rest of the finalists to emerge winner of the competition winning a cash prize of USD$10,000. The first and second runner up spots were taken by Ukheshe Payment and Solutions Growth Factor Technologies respectively each receiving a cash prizes worth of USD$7,000 and USD$5,000 respectively.
Nokwary, from Ghana, is a fintech that uses AI to promote financial inclusion. Its AI Powered banking solution offers an opportunity for users to carry out transactions in a language to which they are familiar to using popular social media channels like Whatsapp.

South Africa’s Ukheshe, is bridging the gap between the card and the cash economy creating the world’s first card acceptance platform that allows unbanked merchants/traders to accept and make digital payments.
Finally, Growth Factor is a fintech company that provides trade financing solutions designed for Micro-Small/Medium Entities (MSMEs) in order to encourage financial inclusion and growth. Its Nvoicia solution solves cash flow issues caused by delayed payments for SMEs, by enabling them to get paid in 24hrs when dealing with credit clients.
In the meantime, all the ten finalists have officially been inducted into the Ecobank Fintech Fellowship, a one-year program which will give them the opportunity to explore opportunities for commercial partnerships with the Ecobank Group, and to possibly launch and scale products across Ecobank’s 33 country markets in the continent.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Ecobank Group Launches Fintech Challenge For Africa’s Fintech Startups

February 21, 2020

Ecobank Group Chief Operating Officer Eddy Ogbogu

The Pan-African Ecobank Banking Group invites African entrepreneurs in Fintech to register for the 3rd edition of the Ecobank Fintech Challenge. It is a competition that offers African startups the opportunity to promote their financial technology solutions and possibly partner with Ecobank to deploy these solutions throughout the Ecobank network, in 33 countries in Africa but also in France.

“As a banking group we continue to be impressed by the way Fintechs are transforming the banking sector in Africa. We look forward to discovering the new innovations and partnership opportunities that will mark the 2020 edition,”Ecobank Group Chief Operating Officer Eddy Ogbogu said.

Here Is All You Need To Know

The invitation is to all startups and developers from 54 African countries to submit their registrations to participate in the Ecobank Fintech Challenge 2020 at the following address: https://www.Ecobank.com/Fintechchallenge.
All Finalists will benefit from a mentorship program. They will participate in a training camp, followed by an Award Ceremony and an Innovation Fair at the headquarters of the Ecobank Group in Lomé in Togo in June 2020.
The Ecobank Fintech Challenge was initiated in partnership with the consultancy Konfidants and benefits from the support of several partners in Africa and around the world.

What Fintech Startups Stand To Benefit

Fintechs will be able to benefit from several opportunities including:
The deployment of their products on a multinational scale: an opportunity to carry out system integrations with Ecobank and possibly launch products throughout the Group’s Pan-African network
Establishing a service partnership: Ecobank can select startups as a pan-African service partner from its banking ecosystem.
Access to the Pan-African Platform for Developers – Sandbox: members will obtain access to the APIs of Ecobank to test and improve their products before their introduction on the Pan-African market.
The possibility of participating in the mentoring program dedicated to Fintechs, support for development and integration into the network of the Group’s global and African partners.

“The Ecobank Fintech Challenge as well as the Mentoring program have been redesigned to bring more added value to Ecobank and Fintech. We have collected opinions on previous editions. One of the main innovations this year will be the possibility for pre-selected Fintechs to access our API interfaces through our Pan-African platform for developers – Sandbox,”Senior Fintech Advisor at Ecobank, Ms. Djiba Diallo said.

How To Apply

To find out more about the challenge, its advantages and how to register, visit the competition website at https://www.Ecobank.com/Fintechchallenge.
Contest registrations will close on April 12, 2020.

About the Ecobank Fintech Challenge:

The Ecobank Fintech Challenge is an annual competitive program organized for Fintechs to enable them to exploit the market integration opportunities offered by the Ecobank Group. Launched in 2017, the Competition totals two editions and is in its third edition.

About Ecobank Transnational Incorporated (‘ETI’ or ‘Le Groupe’):

Ecobank Transnational Incorporated (‘ETI’) is the parent company of the Ecobank Group, the leading independent pan-African banking group. The Ecobank Group employs more than 15,000 people serving around 20 million customers in the personal banking, commercial banking and large customer banking sectors in 33 African countries. The Group has banking authorization in France and has representative offices in Addis Ababa in Ethiopia, Johannesburg in South Africa, Beijing in China, London in the United Kingdom and Dubai in the United Arab Emirates. The Group offers a full range of banking products, services and solutions, notably bank and deposit accounts, cash management, advice, trading operations, trading in securities and wealth management. ETI is listed on several stock markets, namely London Stock Exchange in London, Nigerian Stock Exchange in Lagos, Ghana Stock Exchange in Accra and the Regional Stock Exchange in Abidjan.

For more information, please visit www.Ecobank.com

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com