Ecobank has shortlisted eleven companies to participate in its annual fintech challenge. The shortlisted start-ups include Kenya’s Lypa, Nigeria’s Wallet.ng, and Nala from Tanzania.
The shortlisted participants will have the opportunity to pitch their products at the Innovation Fair & Awards ceremony to be held in Togo on 30 August. The startup that emerges the winner and the two runners-up will receive cash prizes of US$10,000, US$7,000, and US$5,000 in that order.
The eleven start-ups will also join the Ecobank Fintech Fellowship for six months where they will get the opportunity to explore more partnerships with Ecobank Group.
“At Ecobank our digital strategy is spectacularly successful and has changed the landscape of African banking, so it goes without saying that we see fintech as a vital component for the economic transformation of the continent and the prosperity of its citizens,’’ said Ecobank Group CEO, Ade Ayeyemi adding that the bank wants to do what it can to promote the next generation of fintech entrepreneurs in Africa.
Ecobank Group Executive for Operations and Technology Edy dOgbogu said: “Africa has a proud history of innovation, and today’s fintech start-ups are the potential giants of tomorrow. We’re delighted by the quality of our Fintech Challenge finalists and have high hopes that they will capitalise on the mentoring and support opportunities of the Ecobank competition on their journeys to future success.”
The other start-ups competing in Ecobank’s second edition challenge include SESO Global from South Africa,, InvestED from Sierra Leone, Eversend, France, Secapay from Nigeria, Virtual Identity from South Africa, MojiPay from Togo, Nala from Tanzania, Litee from Beninand, and Germany’s Awamo.
