Ecobank Set to Offer $50,000 to Africans
The Ecobank Fintech Challenge identifies and partners Fintechs that are ready to scale and provides them with support and access to opportunities in Ecobank’s 33 African markets. The goal? To contribute to their growth as potential Pan African Fintech success stories.
The Challenge is open to all Fintechs on the African continent. Interested Fintechs can apply by sending details of their product as well as a demo here. These products must address one or more of a specific set of pain points which can be found here.
The selected finalists participate in the Ecobank Fintech Challenge Grand Finale. The ultimate winner for 2022 will be awarded a cash prize of $50,000. All finalists are inducted into the Ecobank Fintech Fellowship, which affords them the opportunity to explore deals, integration and commercial partnership with the Ecobank Group.
Benefits and Opportunities
Multinational Product Roll Out
Once in a lifetime opportunity to pursue integration with Ecobank and potentially launch products in Ecobank’s over 30 markets across Africa.
The ultimate winner will be awarded a cash prize of $50,000Start-ups may be selected by Ecobank as local country-level partner in any of Ecobank’s 33 country ecosystem.
Access To Ecobank’s Pan-African Banking Sandbox
Fellows will be given access to a dedicated team to support on the Ecobank’s APIs test to enable them improve their products for the pan-African market.
Founders will be inducted as Ecobank Fintech Fellows, granting them access and relationships to a vast network of global and African Accelerators and potential Investors as well as mentors.
Integration With Existing Ecobank Digital Offerings
The Challenge offers opportunities for Fintechs to potentially integrate with Ecobank’s existing digital offerings. The existing digital offerings include Ecobank Omni, Ecobank electronic financial supply chain(eFSC), Ecobank Xpress, Ecobank Mobile APP or USSD, MasterPass™ QR, mVISA™ & mCash, etc. You can learn more about these platforms HERE. We’d like applicants to pitch us how their solutions can add value to these existing Ecobank digital offerings.
Applicant’s Journey
Step 1
Late August – Mid-September 2022: Apply
Step 2
Late September 2022: Get
Shortlisted
Step 3
Mid-October 2022: Become a finalist
Step 4
Late October 2022: Pitch at Challenge event/win cash
Step 5
Late October 2022: Get Inducted into Ecobank Fintech Fellowship
Step 6
November 2022 – April 2023: Explore Integration & commercial partnership opportunities with Ecobank Group
Source: Opportunity Desk
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