The Ecobank Group, headquarted in Lome, Togo, employs over 14,800 people and serves more than 23 million customers in the consumer, commercial and corporate banking sectors across 33 African countries. Launched in 2017, the Ecobank Fintech Challenge is an annual competitive programme for Fintechs to explore market integration opportunities with the Ecobank Group. The Ecobank Fintech Challenge is designed in partnership with the advisory firm Konfidants and is supported by partners across Africa and globally.
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:
- SOUTH AFRICA (three companies): Always In-Touch Real-time, Franc Group and Ukheshe Payment Solutions
- INDIA (one company): Fluid AI
- GHANA (two companies): Growth Factor and Nokwary Technologies Limited
- RWANDA (one company): Leaf Global Corporation
- IVORY COAST (one company): Moja Ride
- MOZAMBIQUE (one company): Papersoft S.A
- TANZANIA (one company): PayChap
The finalists will pitch their products to a jury for the cash prizes for the top 3, worth $10,000 USD,
$7,000 USD, and $5,000 USD. 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.
Eddy Ogbogu, Group Executive, Operations & Technology 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.”
Ecobank Group has a banking license in France and representative offices in Addis Ababa, Ethiopia;
Johannesburg, South Africa; Beijing, China; London, the UK and Dubai, the United Arab Emirates. The Group
offers a full suite of banking products, services and solutions including bank and deposit accounts, loans,
cash management, advisory, trade, securities, wealth and asset management.