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.

Monday, the Nest Innovation Technology announced a strategic partnership with UnternemerTUM on driving innovation and entrepreneurship in Africa through the Africa Meets Bavaria program.

This is a two-year Bavarian State Chancellery-backed project connecting Bavaria with Africa to foster place-based innovation and entrepreneurial collaboration.

It empowers young African tech talents to innovate locally while enabling Bavarian companies to tap into emerging African markets.

The project aims to address some of the most pressing global challenges, including sustainability, mobility transformation, and climate change.

By working on local solutions to these challenges, participants contribute to the sustainable development and economic growth of their home countries.

This project is done in partnership with UnternemarTum, which has been announced by Financial Times as Europe’s leading start up hub for 2024-2025.

The initiative brings together leading innovation hubs across Africa, including:

• The Nest Innovation Technology Park (Nigeria)
• MEST Africa (Ghana)
• Impact Hub Kigali (Rwanda)
• iHub Nairobi (Kenya)

Together, these hubs, alongside UnternehmerTUM, are building a new wave of African entrepreneurs, promoting talent, and providing a launchpad for groundbreaking businesses.

“Nigeria is full of brilliant entrepreneurs. What’s often missing is access—the right structures, the right networks, and the right resources. This partnership is about breaking those barriers and ensuring our entrepreneurs are positioned to succeed globally,” said Oluwajoba Oloba, co-founder of The Nest.

We are excited about this as this partnership unlocks a co-creation and cross-pollination engagement between our university labs in Nigeria and UnternehmerTUM.

This is very much in line with the objective of the Federal Ministry of Communications and Digital innovation and a critical element of the Nigeria Startup Act.

The finalists were selected from a cohort of 40 highly competitive Fintechs that made it to the semi-final stage of the competition.

This year’s challenge attracted over 1,550 applications from 70 countries in Africa and other global regions.

The finalists will showcase their innovative solutions at the Ecobank Fintech Challenge Grand Finale, scheduled for 27 September 2024, at the Ecobank Pan African Centre in Lomé, Togo.

The event will be streamed live on Ecobank Group’s social media channels, allowing a global audience to participate. Finalists of the challenge will compete for the US$50,000 ultimate prize during this highly anticipated event.

Speaking at the Semi-Final, Jeremy Awori, chief executive officer of Ecobank Group, remarked,

“The finalists in this year’s Ecobank Fintech Challenge have showcased exceptional talent and innovation; and we look forward to welcoming them to the Finale. At Ecobank, we’re committed to collaborating with these business builders to develop products and services that will benefit our customers and contribute to our continent’s progress”.

Showcasing the future of African fintech, here are the exceptional finalists of the 2024 Ecobank Fintech Challenge:

• BuuPass, Kenya
• Daba Finance,Ivory Coast
• EasyEquities, South Africa
• Exuus, Rwanda
• Melanin Kapital Neobank, Kenya
• MiaPay, Togo
• PaySika, Cameroon
• PROBOUTIK, Senegal
• Sawport Video Banking as a Virtual Branch, Nigeria
• Sproutly, Nigeria
• Vaultpay, Democratic Republic of the Congo
• YMO Africa, Guinea

The Ecobank Fintech Challenge, a flagship initiative of the Ecobank Group, organised for seven consecutive years, continues to serve as a premier continental platform for promoting innovation and collaboration between Fintechs and the pan-African Bank’s cross-border markets spanning 35 countries.

The challenge remains a significant event, attracting key players within the fintech ecosystem and beyond.

It provides a unique opportunity for fintech entrepreneurs to address challenges such as reaching scale, navigating an uncertain regulatory environment, and managing scarcity of funding.

In addition to financial rewards, the challenge offers Ecobank’s expertise in diversified market operations and the right solutions to scale across its pan-African footprint and international presence.

Since inception, 60 fintech startups have been inducted into the Ecobank Fintech Fellowship.

The Ecobank Fintech Challenge is designed in partnership with international advisory firm Konfidants and is supported by various partners including Huawei, Proparco, TechCabal, BlueSpace, Afrilabs, Africa Fintech Network, MEST Africa, Naija Startups, Expand In Africa and Founders Africa.

This year’s Grand Finale will bring together fintechs, regulators, investors, financial institutions, global technology companies, tech hubs, entrepreneurs, and industry experts.

Ecobank invites all key stakeholders within the Fintech ecosystem, and members of the general public to register for the Grand Finale via this link.

These startups, selected from a pool of 40 contenders spanning Ghana, Kenya, Nigeria, Senegal, and South Africa, cover diverse sectors such as fintech, health tech, e-commerce, and edtech. This comes after rigorous pitch sessions, showcasing their resilience and innovation.

Letaji (Kenya), a startup in the construction industry, is an online marketplace simplifying the procurement of building materials, enhancing direct connections between homeowners, contractors, and hardware stores with top suppliers.

Chestify AI (Ghana) on the other hand is a platform facilitating seamless connections and support among clinical professionals, enhancing patient care through innovative solutions.

OneHealth (Nigeria) leads the health tech sector by providing an integrated platform for virtual consultations, connecting patients with doctors and diagnostic centers while managing prescriptions and test results online.

Sanya (Senegal) stands out in IT edutainment, offering a unique combination of educational and entertainment digital products, boosting a community-based approach to tech learning for companies.

Koa Academy (South Africa) pioneers the future of online education with its innovative approach to digital learning, positioning itself at the forefront of educational technology in the region.

The much-anticipated final program, where these finalists will vie for the grand prize, is scheduled for the end of January. MEST Africa will organise and host the event, bringing together a network of entrepreneurs, investors, and partners.

Ashwin Ravichandran, Portfolio Advisor at MEST, expressed excitement about the upcoming finals, noting, “The top 5 finalists of the 2023 MEST Africa Challenge are a testament to the remarkable innovation and potential within Africa’s tech ecosystem.”

The MEST Africa Challenge, a flagship initiative of MEST Africa, plays a key role in nurturing aspiring and early-stage tech startups across the continent. As a comprehensive training program, seed fund, and network of hubs, MEST Africa is dedicated to empowering the next generation of African tech startup innovators.

This year’s challenge, in partnership with Absa Bank, a leader in African financial services committed to facilitating innovation and entrepreneurship, points to the collaborative effort driving Africa’s technological advancement.

The program is organised by pan-African training program, seed fund, incubator and hub, MEST Africa and is Africa’s go-to pitch competition for technology startups looking to get to the next level of their growth journey. 

The challenge provides a stage for technology startups to raise funding, build industry networks and gain international visibility that would serve them well in growing and expanding their businesses. 

MEST Africa Challenge has received thousands of applications from around the continent since its inception. It has spotlighted and impacted the growth of winning startups such as Tanzania’s Kilimo Fresh, Ghana’s OZE, South Africa’s Snode Technologies, Kenya’s Waya Waya, and Nigeria’s Accounteer.

Benefits 

The 2022 MEST Africa Challenge presents the following benefits to successful applicants:

• Funding of up to $50,000
• Perk prizes from MEST Strategic Partners
• Global visibility
• Build your networks
• Professional coaching
• Mentorship from experts
• Join the global MEST Community for lifetime benefits

Eligibility 

Interested startups must meet the following eligibility criteria:

• Pre-seed or seed-stage — have raised $100k total or less cumulatively since inception
• Currently generating revenue 
• Can demonstrate traction in one or more of the five MAC Markets (Ghana, Kenya, Nigeria, South Africa, Senegal)
• Has been in operation for 2 years or less
• Tech-enabled (software company)
• Industry agnostic
• Any business model (B2B, B2C, B2B2C, B2G etc…)

How to apply 

Applications for the 2022 MEST Africa Challenge are open till Tuesday, August 30, 2022. Join the Challenge to scale your startup globally.

MEST Express Startup Accelerator Programme is designed to ensure the speedy growth and stability of these upcoming businesses focused on rapid practical application and observable business outcomes.

Interestingly, its equity-free grant funding and access to investment opportunities makes the accelerator even more unique. Passionate founders who believe in the possibilities of the world’s success are MEST Express’ target.

Benefits 

• Top-performing startups will receive equity-free grant funding for sustained growth
• Startups will learn and apply strategies focused on rapid application & tangible outcomes
• Mentorship from industry professionals and sector experts
• Access to MEST Express’ community of experts, investors and founders

Eligibility 

To be eligible to participate in the programme, the starting must meet the following criteria:

• Must be an early to growth stage Ghanaian startup
• Must be 1-3 years in operation
• Must be a technology or tech-enabled business 
• Must have $100k or less in funding
• Must have a proven problem-solution fit
• Must be generating revenue
• Can demonstrate traction
• Can be any business model

The programme’s focus areas include: 

• Funding & Investment readiness
• Risk Management and Crisis Resilience 
• Product Management & Positioning
• Business and Revenue Modelling 
• Sales & Customer Acquisition
• Market Research & Competitive Analysis
• Marketing & Brand awareness
• Organizational Structuring

How to apply

To participate in the MEST Express Startup Accelerator, apply before the deadline on Sunday, July 10, 2022.