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Ecobank Fintech Challenge

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Ecobank Fintech Challenge 2024 for African Tech Innovators and Entrepreneurs ($USD 50,000 in cash prizes)

by OFA
written by OFA

Application Deadline: July 7, 2024

Applications are now open for the 2024 Ecobank Fintech Challenge. The Ecobank Fintech Challenge is open to all startups with innovative solutions addressing the needs of the African population and its diaspora. It has been created with two objectives in mind:

  • Identify and support Fintechs that are ready to scale up with resources, funding, partnerships, etc. in Ecobank’s 33 African markets.
  • Leverage these pan-African Fintech success stories and the solutions they offer to improve Africa’s financial integration and economic development.

The Ecobank Fintech Challenge is a Pan-African innovation competition powered by Ecobank Transnational Incorporated. It is designed to identify, support and partner impressive African Fintechs to grow and scale their Fintech innovations across the African continent and globally. The fundamental value offerings of the challenge are market access, visibility and cash prizes.

Requirements

  • All Fintechs with relevant financial products for Africa are eligible to apply to the Ecobank Fintech Challenge.

Benefits

The Challenge is the ideal launchpad for African Fintech innovators and startups to scale up to the next grand level with full support from Ecobank. It brings together a diverse pool of Africa-focused innovations to solve Africa’s financial inclusion pain points.

Competition Cash prizesThe ultimate winner will be awarded a cash prize of $50,000.

Scale Across BordersOpportunity to pursue integration with Ecobank and potentially launch your product in Ecobank’s 35 markets across Africa.

Ecobank Affiliates PartnershipsFinalists with impressive products may be selected as country-level partners to local Ecobank affiliates within Ecobank’s 35-country footprint.

Access to Ecobank’s Pan-African Banking SandboxFellows will be given access to a dedicated team to support on Ecobank’s API tests to enable them to improve their products for the pan-African market and globally.

Mentoring and networking supportAll Finalists will be inducted as Ecobank Fintech Fellows, granting them access and relationships to a vast network of global and African accelerators, potential Investors, mentors, and the Ecobank non-bank clients’ ecosystem for potential partnerships.

Integration With Existing Ecobank Digital OfferingsThe Challenge offers opportunities for Fintechs to potentially integrate with Ecobank’s existing digital offerings.

Timeline:

  • 01 June 2024: Application launch
  • 02 Early July 2024: Application Window Closes
  • 03 Early August 2024: Finalists announcement
  • 04 Mid Sep 2024: Innovation Fair & Grand finale
  • 05 Oct. – Dec. 2024: Ecobank Fintech Fellowship
  • 06 Dec. 2024 – May 2025: Commercial partnership

For More Information:

Visit the Official Webpage of the Ecobank Fintech Challenge

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ecobank-fintech-challenge-2023
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Ecobank Fintech Challenge 2023 for African Tech Innovators and Entrepreneurs ($USD 50,000 in cash prizes)

by OFA
written by OFA

Application Deadline: July 21st, 2023

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 35 African markets. The goal? To contribute to their growth as potential Pan African Fintech success stories.

Requirements

  • 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.

Pain-Points:

  • Customer Experience
  • Financial Inclusion
  • Credit Scoring
  • Ecosystem aggregation
  • Internal tools
  • Payments
  • Any other relevant product categories

Benefits

  • The selected finalists participate in the Ecobank Fintech Challenge Grand Finale.
  • The ultimate winner for 2023 will be awarded a cash prize of $50,000.
  • 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.

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 top three winners at the Challenge will be awarded $15,000, $12,000 and $10,000 cash prizes respectively.

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 Ecobank’s API tests, to enable Ecobank 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, potential Investors, as well as mentors.

Timeline:

  • Mid-June 2023 : Apply
  • End of July 2023: Initial Shortlisting
  • Mid August 2023: Finalists Announcement
  • Late September 2023: Innovation Fair & Grand Finale
  • September – December 2023: Ecobank Fintech Fellowship
  • November 2023 – April 2024: Commercial Partnership Exploration

For More Information:

Visit the Official Webpage of the Ecobank Fintech Challenge 2023

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ecobank-fintech-challenge-2021
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Ecobank Fintech Challenge 2021 for African Tech Innovators and Entrepreneurs (37,000 USD in cash prizes)

by OFA
written by OFA

Application Deadline: 20th September 2021

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.

Benefits

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 top three winners at the Challenge will be awarded $15,000, $12,000 and $10,000 cash prizes respectively.
  • 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 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 offering

For More Information:

Visit the Official Webpage of the Ecobank Fintech Challenge 2021

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Ecobank Fintech Challenge 2018 for African Tech Innovators and Entrepreneurs

by OFA
written by OFA

Application Deadline: 11pm GMT, May 17th, 2018.

Ecobank Fintech Challenge is a pan-African innovation competition and start-up partnership offering by Ecobank. It is designed to inspire, support and partner African start-ups and developers, with an aim to facilitate the development of innovative “FinTech” and banking related solutions.

Teams are to submit applications addressing one or more of the following challenges

  1. Digital Onboarding/ Account Opening/ Know- Your-Customer Technology
  2.  Remittances
  3. Digital Sales/Marketing
  4. Offline Mobile-to-Mobile Payments
  5. Multi-Channel Payments/Collect Ecosystems
  6.  SME Intra-African Trade Platform
  7. Any other Fintech solution

Eligibility Requirements:

  • All African start-ups, and start-ups with solutions for Africa are eligible to apply to the fintech challenge

Benefits:

  • Competition Cash prizes: the three top winners at the Innovation Fair will be awarded $10,000, $7000, and $5000 cash prizes respectively.
  • Multinational product roll out: once in a lifetime opportunity to launch products in Ecobank’s over 30 markets across Africa through strategic partnership.
  • Service provider partnerships: start-ups may be selected by Ecobank as a pan-African service partner within Ecobank’s giant 36 country ecosystem.
  • Mentoring and networking support: founders will be conferred as Ecobank Innovation Fellows for a period of one year, granting them access to networking and mentoring opportunities within the Ecobank Group and its vast network of global and African partners.

Application

For More Information:

Visit the Official Webpage of the Ecobank Fintech Challenge 2018

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Ecobank Fintech Challenge 2017 for African Tech Innovators and Entrepreneurs ($500,000 in Funding).

by OFA
written by OFA

Application Deadline: April 14, 2017 11pm GMT.

Ecobank Fintech Challenge is a pan-African innovation competition and start-ups partnership offering by Ecobank. It is designed to inspire, support and partner African start-ups and developers with the aim to facilitate the development of innovative “FinTech” and banking related solutions.

Ecobank is challenging Africa’s new generation of entrepreneurs to find lasting solutions to the continent’s most pressing banking issues. Submit entries in one or more of our key areas of interest for your Chance to win up to $500,000 funding.

Ecobank Fintech Challenge consists of three main phases:

  • Phase one: a pan-African competition. Open to all African tech innovators and entrepreneurs
  • Phase two: an Innovation Fair and Awards Ceremony. For selected top applicants only.
  • Phase three: post-competition Opportunities & Collaboration with Ecobank. For only selected top products

Eligibility

  • All African startups / individual innovators are eligible to apply to the fintech challenge.

Benefits:

  • Competition Cash prizes: the three top winners at the Innovation Fair will be awarded $10,000, $7000, and $5000 cash prizes respectively.
  • Start-up Funding: after the competition, Ecobank may invest up to $500,000 in selected start-ups/products with immense prospects.
  • Multinational product roll out: once in a lifetime opportunity to launch products in Ecobank’s over 30 markets across Africa through strategic partnership.
  • Service provider partnerships: start-ups may be selected by Ecobank as a pan-African service partner within Ecobank’s giant 36 country ecosystem.
  • Mentoring and networking support: founders will be conferred as Ecobank Innovation Fellows for a period of one year, granting them access to networking and mentoring opportunities within the Ecobank Group and its vast network of global and African partners

Alongside the funding opportunity, Submitting an entry can help you access a host of other exciting benefits that could help catapult your start-up towards success

  • Become a Fellow
    Enjoying mentoring by leading experts.
  • Attract funding
    Up to $500K for your Fintech solution
  • Go multi-national
    Partner with us to roll out to 36 countries.
  • Be a Service Partner
    Access Africa’s biggest banking ecosystem
  • Maximise your reach
    Give your start-up full Pan-African visibility.
  • Showcase your idea
    At Ecobank’s Innovation Faire

Application Process:

  • Teams are to submit applications addressing one or more of the following challenges
    1. Predictive analysis using big data
    2. Agency banking
    3. Secured client authentication
    4. Apps to work without internet connectivity
    5. KYC technology
    6. Customer analytics
    7. Credit scoring
    8. Micro Loan System
    9. User experience optimizing solutions using machine learning and AI
    10. Blockchain technology/solutions within Banking

    Any other Fintech solution

For More Information:

Visit the Official Webpage of the Ecobank Fintech Challenge 2017

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