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 $50,000 for the top
winner and the opportunity to partner and scale their solutions across
Ecobank’s 33 African markets.
This is according to a statement by the Group’s Corporate
Communications on Friday.
The 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://Ecobankfintechchallenge.com.
Applications can be made until Sept.16, 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 of 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.”
Ecobank Fintech Challenge was designed in partnership with
an 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 program since it was launched in 2017.
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