Koree Emerges First Female-led Fintech to Win Ecobank Fintech Challenge

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Cameroon’s Koree has emerged as the champion of the 2023 Ecobank Fintech Challenge, marking a historic moment as the competition’s first-ever female-led fintech winner. 

The 2023 edition of the Ecobank Fintech Challenge drew participation from over 1,400 fintechs spanning 64 countries, highlighting the competition’s increasing popularity and global reach. Koree’s triumph came after facing fierce competition from seven other finalists, including Flexpay Technologies (Kenya), IPOXcap AI (South Africa), Kastelo (South Africa), Kori Tech (Senegal), Smart Teller Technologies (Nigeria), Rubyx (Belgium), and Wolf Technologies (DRC). 

The announcement, made during the Grand Finale at Ecobank Group’s headquarters in Lomé, Togo, celebrated Koree’s exceptional card wallet payment solution, which digitizes merchant payments, securing the top prize of $50,000. This victory signifies the wealth of innovation and ingenuity thriving within the African fintech landscape.

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Koree’s victory earned the company a substantial cash prize of $50,000. Additionally, the first runner-up, Wolf Technologies, received $10,000, while the second runner-up, Flexpay Technologies, took home $5,000. Beyond the monetary rewards, all eight finalists, including Koree, were inducted into the prestigious Ecobank Fintech Fellowship. 

This exclusive program offers fintech companies the invaluable opportunity to explore potential commercial partnerships with Ecobank, including seamless integration with the bank’s platforms and the potential for scaling up their fintech ventures across Ecobank’s 35 African markets.

Ecobank Group’s CEO, Jeremy Awori, expressed his excitement about the collaboration with the winning fintech, emphasizing the importance of forging sustainable partnerships in delivering convenient, affordable services to customers. Notably, Koree’s victory also holds broader significance, representing a triumph for innovation and diversity in the fintech landscape. 

Magalie Gauze-Sanga, CEO of Koree, highlighted the impact of the win, stating, “We’re excited to work with Ecobank Group across its large footprint to further transform the financial landscape in Africa by digitizing cash-based payments while simultaneously empowering millions of consumers and bringing value to local brands and retailers.”

The Ecobank Fintech Challenge shows the incredible talent within the fintech industry and is a reflection of the collaborative spirit fostered by various partners. Sponsors like Huawei, Asky Airlines, Arise, Proparco, and others have played an important role in supporting this innovative initiative, contributing to the growth and success of fintech ecosystems across Africa.