Taking place in Cape Town on Wednesday, November 26, 2025, the competition will see one startup walk away with a $50,000 equity investment and access to a global network of mentors and investors.

The announcement follows two days of rigorous semi-final pitches held on October 28 and 29, where young innovators from eight African countries showcased products bolstering financial technology across the continent. 

Ten startups stood out for their creativity, impact potential, and market readiness.

The finalists include:

1. mystocks.africa (Botswana);
2. Credify Africa Inc (Uganda);
3. Logistify AI (Kenya)
4. Kutana Technologies Ltd (Ghana);
5. Investa Farm (Kenya);
6. Black Swan (Mauritius);
7. Mighty Finance Solution Inc (Zambia);
8. Devdraft AI (Zambia);
9. Kanzu Finance Ltd (Uganda); and
10. Farmsky (Kenya).

According to Ashwin Ravichandran, Portfolio Advisor and MAC lead at MEST Africa, this year’s cohort represents a new phase of African innovation. “Each year, the Challenge grows not only in reach but in the depth of innovation it attracts. We’re seeing founders build financial systems that are inclusive, intelligent, and unmistakably African. The Top 10 exemplify the kind of purposeful innovation driving Africa’s next wave of growth.”

Now in its seventh year, the MEST Africa Challenge focuses on FinTech ventures and startups embedding financial solutions into technology systems. 

The 2025 edition covers eight of Absa’s nine priority markets, which include Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Uganda, and Zambia, targeting businesses that enhance financial inclusion and digital transformation.

For Absa, the partnership shows its drive to enhance banking through technology. “Our ambition is to reimagine financial services through technology, and the innovations presented by these FinTechs showcase what’s possible,” said Tamu Dutuma, head of Strategy and Transformation for Technology at Absa Regional Operations (ARO). 

“Many of the solutions are directly relevant to our business, with the potential to enhance customer experience, drive efficiency, and accelerate transformation. We’re excited about the opportunity to turn some of these ideas into meaningful partnerships that deliver value at scale.”

MEST Africa’s long-standing focus on entrepreneurship development has impacted the continent’s tech sector since 2008, having trained over 2,000 entrepreneurs and invested in more than 90 startups.

“What stands out in the Top 10 is how digital innovation is being applied to real market challenges,” said Tawanda Chatikobo, head of Digital – ARO RBB. “From AI-driven insights to seamless payments, these solutions demonstrate how technology can unlock access, efficiency, and financial inclusion. Digital solutions are no longer a luxury – they have become an imperative for the financial sector.”

The 2025 MEST Africa Challenge finale will support the organisation’s mission to enable scalable African ventures, helping them transform industries and drive inclusive growth across the continent.

The competition recognises some of the continent’s most innovative startups in financial technology and other high-impact solutions that address Africa’s financial sector.

Now in its seventh edition, the challenge centres on the theme, “You Build, We Scale,” and seeks to empower founders ensuring access to finance across Absa’s eight key markets which include Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Uganda, and Zambia.

The selected startups are developing solutions that cut across payments, credit access, cross-border trade, agri-fintech, and financial literacy, all aimed at rethinking how money moves and works for Africans.

Ashwin Ravichandran, portfolio advisor at MEST Africa and MAC Lead, described the semi-finalists as visionary entrepreneurs whose ideas merge technology with community-focused problem-solving. 

“Each of these founders represents a unique path toward reimagining how finance works for Africans,” he said. “Their ideas pair technology with empathy, proving that lasting change comes from solving real problems within their own communities. We’re proud to provide a platform that connects them with investors, mentors, and global opportunities.”

Absa’s collaboration with MEST emphasises its focus on driving digital inclusion and innovation across Africa’s financial ecosystem. 

Speaking on the announcement, Tawanda Chatikobo, head of Digital for Absa Regional Operations (ARO), Retail and Business Banking, said: “Congratulations to the top 20 finalists and to all applicants. The quality of submissions has been exceptional, showcasing the depth of innovation and entrepreneurial drive across Africa. These startups are not only solving real challenges; they’re building the foundation for inclusive growth and lasting impact. 

“Our partnership with MEST and our active participation in the MEST Africa Challenge 2025 reflect our commitment to open collaboration within the FinTech ecosystem. At Absa, we see ourselves as partners in this journey, guided by a purpose to make banking simpler, more accessible, and more relevant for our customers.”

The 20 startups, selected from hundreds of applications, include:

Botswana:

• mystock.africa – A retail investing platform offering Africans access to stocks, ETFs, and alternative assets.

Ghana:

• Brydge – Simplifying cross-border trade for African businesses.
• Kutana Technologies Limited – Enabling B2B payments and trade using stablecoins and AI-powered credit scoring.

Kenya:

• Logistify AI – Optimising procurement and supply chains for SMEs and cooperatives.
• Farmsky Ventures – Providing digital lending and crop insurance for smallholder farmers.
• Investa Farm – Offering voucher-backed loans for climate-resilient farm inputs.

Mauritius:

• Black Swan – Building credit scores for Africa’s unbanked using AI and alternative data.

Mozambique:

• Simulador Bancário – A platform for financial planning and loan simulations.

Uganda:

• Paytota – Simplifying fragmented digital payments through a unified payment gateway.
• Xzerra – Facilitating cashless transactions with biometric fingerprint technology.
• Kanzu Finance Limited – Providing digital banking solutions for cooperatives and microfinance institutions.
• Axiom Zorn – Enabling smallholder farmers’ access to finance and markets through data innovation.
• Credify Africa, Inc. – Bridging Africa’s SME finance gap with trade finance and logistics solutions.
• eMaisha Pay – Promoting financial inclusion for agro-traders and small businesses.

Zambia:

• Ebusaka Green Technology Limited – Turning waste to value through digitised recycling incentives.
• KreativBox Technology – Offering salary-backed loans to civil servants.
• Mighty Finance Solution Inc – Providing embedded digital loans for SMEs and women entrepreneurs.
• Devdraft AI – Supporting freelancers with cross-border payments using stablecoin wallets.
• Homer Price Agency Solutions Limited – Operating a digital banking network of over 550 agents nationwide.

Seychelles:

• Fusepay – A licensed Payment Service Provider building a digital finance hub for frontier markets.

The semi-finalists will present their pitches virtually in the week of October 27, 2025. Only 10 startups will proceed to the final round in Cape Town, South Africa, scheduled for 26 November 2025. 

The overall winner will secure a $50,000 equity investment, gain access to MEST Africa’s global mentorship network, and explore pilot opportunities with Absa’s business divisions.

Tamu Dutuma, head of Strategy and Transformation for ARO Technology, said the competition unearths ideas capable of accelerating digital transformation across the continent. 

“Through this challenge, we’re seeing solutions that are not only innovative but strategically aligned with Africa’s evolving technology landscape. Some of these ideas have the potential to accelerate digital transformation and unlock new value for our customers,” she said.

Since its founding in 2008, MEST Africa has supported more than 2,000 entrepreneurs and invested in over 90 startups. The MEST Africa Challenge is a key platform for identifying, nurturing, and scaling promising technology-driven ventures that are building Africa’s economy sustainably.

This year’s edition is dedicated exclusively to FinTech startups, spotlighting founders who are reimagining how money is moved, managed, and insured across the continent. 

Applications run July 30 to September 26, 2025, after which 20 semi-finalists and 10 grand-finalists will be selected. 

Benefits

The overall winner will secure a $50,000 equity investment and the opportunity to pilot with strategic partners at scale.

“The MEST Africa Challenge is where Africa’s boldest ideas find the opportunity to scale,” said Ashwin Ravichandran, Portfolio Advisor & MAC Lead at MEST Africa. “Our partnership with Absa gives these visionary founders the lift they need—connecting them to the capital, expertise, and networks that turn promising startups into sector-defining businesses and drive inclusive growth across the continent.”

With $30 million invested in more than 90 startups and 2,000 entrepreneurs to date, MEST is one of Africa’s most active early-stage tech investors. The 2025 edition of MAC deepens that impact through a strategic partnership with Absa that aligns the competition with the bank’s digital-finance priorities.

“Africa’s future will be shaped by bold ideas, local ingenuity, and scalable innovation. At Absa, we recognise the critical role entrepreneurs play in driving inclusive economic growth. This partnership with MEST reflects our commitment to backing those visionaries and shaping the future of financial services. It complements our digital transformation strategy and reflects our purpose of empowering Africa’s tomorrow, together, one story at a time,” said Omar Baig, managing executive, ARO Retail and Business Banking.

The collaboration between Absa and MEST aims to accelerate innovation by connecting FinTech startups with the resources and expertise needed to scale solutions that drive inclusive growth across Africa.

“Our partnership with MEST is a strategic step toward unlocking innovation that truly matters,” says Muhammad Ali Bhikhan, managing executive and chief information officer at Absa Regional Operations. “It will allow us to connect with visionary startups, build a strong talent pipeline, and collaborate on solutions that can drive meaningful digital transformation and long-term impact across the continent, he concludes.”

Who should apply to the Mest Africa Challenge 2025?

MAC 2025 invites early-stage startups in FinTech and other high-value, value-chain solutions that are already active in at least one of Absa’s priority markets, with countries including  Botswana, Uganda, Mauritius, Seychelles, Kenya, Mozambique, Zambia and Ghana. 

To qualify, a company must be three years old or younger, show minimum monthly recurring revenue of $5,000, and have raised no more than $1 million to date. Each venture should have at least two co-founders, be able to pitch in English, and, while not mandatory, Delaware registration is considered an advantage.

How to apply

Founders can submit a short online application, including a three-minute video pitch, via the website from July 31, 2025. Virtual semi-finals will take place in late October, and the top ten teams will present live in Cape Town at the Grand Finale in late November.