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Ecobank opens applications for 2024 fintech challenge, to award $50,000 prize

Ecobank Fintech challenge 2024

Pan-African financial services group, Ecobank, has opened applications for the 7th edition of its Fintech Challenge.

The annual competition will award $50,000 cash prize support to the winning startup and more cash prizes to the top three winners. Announcing the 2024 edition, Ecobank said the Challenge is a launchpad for African Fintech innovators and startups to scale up to the next grand level with full support from the bank.

It added that the Challenge brings together a diverse pool of Africa-focused innovations to solve Africa’s financial inclusion pain points.

Who can apply

Ecobank said the Fintech Challenge is open to all startups with innovative solutions addressing the needs of the African population and its diaspora.

According to the company, the Challenge was created to identify and support fintechs that are ready to scale up with resources, funding, partnerships, etc. in Ecobank’s 33 African markets.

Commenting on the initiative, the Chief Executive Officer of Ecobank Group Jeremy Awori, said,

“Building partnerships with fintechs is a catalyst for driving financial inclusion in Africa.

“We have enhanced this new edition of the Ecobank Fintech Challenge to continue to provide fintech entrepreneurs with a premier platform to showcase groundbreaking solutions, while creating unparalleled opportunities for growth and expansion across 35 markets in Africa.”

Ecobank added that last year’s competition attracted 1,490 entries of real quality. Successful applicants reaching the Grand Finale and awards ceremony in October will have the chance to join the highly coveted Ecobank Fintech Fellowship programme.

Applications for the Challenge are expected to close on July 7, 2024. Interested African fintechs can apply here.

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