Applications for Ecobank Group Fintech Challenge 2023 is now open until 16 September 2022. The Fintech Challenge 2023 offers early-stage and mature start-ups a partnership opportunity with Ecobank across 33 African countries.
Now in it’s fifth edition, the Fintech Challenge of the Pan-African banking group, Ecobank Group, encourages African Fintech entrepreneurs around the continent to Participate in the competition.
Ecobank Group Fintech Challenge 2023
The competition recognizes only Fintechs that are in alignment with the Bank’s strategic objectives, and they stand a chance to win an overall cash prize of US$50,000 for the top winner. They also have the opportunity to partner and scale their solutions across the 33 African markets.
All Fintech companies and developers from any of Africa’s 54 countries, are eligible to participate for the Fintech Challenge. About 10 finalists will be inducted into the Ecobank Fintech Fellowship after the finals and awards ceremony which will take place in October 2022.
About Ecobank Fintech Challenge
The Fintech challenge is a pan-African innovation competition and business partnership offered by Ecobank Group to inspire, support and partner African Fintechs, with an aim to expand the reach of innovative Fintech and banking related products.
The Fintech Challenge seeks to identify and partners Fintechs that are ready to scale and provides them with support and access to Ecobank’s 33 African markets, this is to enhance their growth in becoming true Pan African Fintech success stories.
Details of Ecobank Fintech Challenge 2023
- Type: Entrepreneurs
- Organization: Ecobank Fintech
- Country to study: Nigeria
- Course to study: Not specified
- Gender: Men and Women
- Application Deadline: September 16, 2022
How to Apply for the Ecobank Fintech Challenge 2023
Interested Applicants must ensure that they meet the requirements below before applying for the challenge. To apply for the Fintech Challenge 2023:
- Visit Ecobank Fintech on ecobankfintechchallenge.com
- Applicants are allowed to enter more than one fintech product in the competition. But each product you apply with must be distinct.
- Do not submit two products in one application form. Each product must be entered as a separate application.
Aim and Benefits of Ecobank Fintech Challenge 2023
- The Finalist would be inducted as an Ecobank Fintech Fellow and stand a chance to explore the following opportunities:
- Recipients will enjoy a lifetime opportunity to pursue integration with Ecobank and potentially launch products in Ecobank’s over 30 markets across Africa.
- A $50,000 Awards will be offered to the winner of the competition
- Eligible Start-ups may be selected by Ecobank as local country-level partner in any of Ecobank’s 33 country ecosystem.
- Fellows will be assigned to a dedicated team to support on the Ecobank’s APIs test to enable them improve their products for the pan-African market.
- Originators/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.
- Fintechs are likely to be integratey with Ecobank’s existing digital offerings. Ecobank existing digital offerings include Ecobank Omni, Ecobank electronic financial supply chain(eFSC), Ecobank Xpress, Ecobank Mobile APP or USSD, MasterPass™ QR, mVISA™ & mCash, etc.
- Applicants will be required to pitch how their solutions can add value to these existing Ecobank digital offerings.
Eligibilty Criteria for Ecobank Fintech Challenge Qualification 2023
Eligible Fintechs that can apply for the Fintech Challenge are those with an Africa-Focused or Africa relevant product, of which the products must address one or more of a specific set of pain points listed below:
- Customer experience
- Financial inclusion
- Credit scoring
- Ecosystem Aggregation
- Internal tools
- Any other relevant product categories
September 16, 2022
Best of luck!
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