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Applications Now Open for 7th Edition of $50K Ecobank Fintech Challenge

The 7th Ecobank Fintech Challenge is currently accepting applications from global fintechs with an emphasis on Africa as well as fintech developers and entrepreneurs from throughout Africa.

Early-stage and established firms are invited to apply for the 7th edition of the Ecobank Fintech Challenge, which will see teams work together with Ecobank across 35 African regions.

Official submissions for the 7th Fintech Challenge edition are now being accepted by Ecobank, a pan-African financial services group.

Every year, Ecobank partners with early-stage and established fintech businesses through this competition, which offers a US$50,000 grand prize and the opportunity to expand their ideas throughout 35 African countries.

Notwithstanding the fintech boom in Africa, a McKinsey analysis indicates that scale, navigating an unsteady regulatory landscape, and managing finance scarcity remain obstacles for fintech start-ups in the continent.

In addition to financial rewards, Ecobank’s experience in operating in a variety of markets and the ability to scale its pan-African footprint and international presence, including France, make the Ecobank Fintech Challenge a special chance for Fintech Entrepreneurs to address these issues.

The fact that 1,490 excellent entries were received in the previous year’s competition highlights the importance of this pan-African challenge. A cash reward of US$50,000 will be awarded to the ultimate winner of the extremely competitive Ecobank Fintech Fellowship program, which is open to successful applicants who make it to the Grand Finale and Awards Ceremony in October 2024.

Benefits of the Ecobank Fintech Challenge

  • Multinational product rollout: an opportunity to integrate their solutions with Ecobank, opening doors to potential product launches within Ecobank’s expansive 35-country Pan-African network.
  • Service provider partnerships: Selected fintechs may become Pan-African service partners within the Bank’s ecosystem.
  • Access to Ecobank’s Pan-African Banking Sandbox: Fellows will receive exclusive access to Ecobank’s cutting-edge APIs, enabling them to test and develop their products for the Pan-African market.
  • Priority access to Ecobank’s Venture Capital partners for funding exploration.

The Ecobank Fintech Fellowship has accepted 60 fintech firms since its founding. The worldwide consulting firm Konfidants collaborated with Ecobank to establish the Fintech Challenge, which has other partners supporting it.

How to Apply

 Interested applicants can submit their applications through the official website.

The deadline for entries is Sunday, July 7, 2024.

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