The 2024 Ecobank Fintech Challenge is now accepting applications from both new and established startups. This is the 7th year of the competition, and it’s a chance for fintech startups to team up with Ecobank, which operates in 35 African countries.
Ecobank, a major financial services group in Africa, is inviting fintech startups to join this annual competition. The winner will get $50,000 and the opportunity to expand their business across Ecobank’s network in Africa and beyond, including France.
A recent McKinsey report shows that African fintech startups face issues like scaling up, dealing with uncertain regulations, and finding funding. The Ecobank Fintech Challenge helps by offering financial rewards and access to Ecobank’s expertise and resources.
Last year, the competition received 1,490 high-quality entries, highlighting its importance. The finalists in October 2024 will have the chance to join the Ecobank Fintech Fellowship and win $50,000.
Benefits of participating include:
– Launching products across Ecobank’s 35 African countries.
– Potential partnerships within Ecobank’s network.
– Access to Ecobank’s banking technology for testing and development.
– Opportunities for funding through Ecobank’s venture capital partners.
Since it began, 60 fintech startups have joined the Ecobank Fintech Fellowship.
The challenge is organized with the help of the international advisory firm Konfidants and supported by various partners.
To apply, fintechs and developers from Africa and those focused on African markets can visit the official website. The deadline for applications is Sunday, July 7, 2024.
