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Nigeria missing as Ecobank announces year 2020 finalists for $22,000 fintech challenge

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Ecobank
  • Finalists will compete for the top crown on August 21 and be inducted into the Ecobank Fintech Fellowship to pursue commercial partnerships in Ecobank’s 33 markets cross Africa

Ecobank Group on Thursday announced the finalists from the 2020 Ecobank Fintech Challenge. The challenge, in its third edition, is designed to deepen collaboration between Ecobank and Fintechs with Africa focused products.

The 10 finalists Fintechs from 7 different countries, who emerged from a competitive pool of over 600 fintechs, will participate in an online Finale scheduled for August 21, 2020.

The 2020 Finalists are:

  1. Always In-Touch Real-time (South Africa),
  2. Fluid AI (India), Franc Group (South Africa),
  3. Growth Factor (Ghana),
  4. Leaf Global Corporation (Rwanda),
  5. Moja Ride (Ivory Coast),
  6. Nokwary Technologies Limited (Ghana),
  7. Papersoft S.A (Mozambique),
  8. Ukheshe Payment Solutions (South Africa),
  9. PayChap Technologies (Tanzania).

The Finalists will pitch their products to a jury for the cash prizes for the top 3, worth US$10,000, US$7,000, and US$5,000.

All the finalists will be enrolled into Ecobank’s Fintech Fellowship where they will spend the next 6 months exploring partnership opportunities which includes:

Multinational product roll out: An opportunity to pursue collaboration with Ecobank and possibly launch products in Ecobank’s  33 African markets.

Service provider partnerships: A chance to become a pan-African service partner to Ecobank for Fintechs with the qualities to become product partners and offer joint services with Ecobank

Mentoring and networking support:  Access to networking and mentoring opportunities within the Ecobank Group and its vast network of global and African partners

Integration with existing Ecobank digital offerings: An opportunity to potentially integrate with Ecobank’s existing digital offerings.

The Group Executive, Operations & Technology, Eddy Ogbogu, said, “we congratulate the 10 Fintechs that have made it to the 2020 Finals. This is an impressive cast of innovators and we look forward to the Final event where we will honour them and potentially build productive collaborations.”

The Ecobank Fintech Challenge is designed in partnership with the advisory firm Konfidants and is supported by partners across Africa and globally.