The 2024 Ecobank Fintech Challenge semi-final is scheduled for Wednesday, August 14, at the Ecobank Pan African Centre (EPAC) in Lagos. Forty applicants have been shortlisted.

This year’s challenge attracted over 1,550 applications from 70 nations; nevertheless, only 40 lucky applicants can participate in this week’s hybrid semi-finals.

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

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Jury selects fintech competition semi-finalists

A statement on Monday revealed that the semi-finalists were chosen after a jury evaluated the entries received for this year’s competition.

In the grand finale, there will be a Challenge for a $50,000 prize and a spot in the Ecobank Fintech Fellowship programme, which would significantly boost their innovations.

Through partnerships with Ecobank and its partners, Ecobank Fintech Fellows can access many options, including integrating their solutions with Ecobank and potentially opening doors for product launches inside Ecobank’s extensive 35-country Pan-African network.

Shortlisted fintechs may become Pan-African service partners within the Bank’s ecosystem. Fellows receive exclusive access to Ecobank’s innovative APIs, enabling them to test and develop their products for the Pan-African market.

They also have priority access to Ecobank’s Venture Capital partners for funding exploration.

Ecobank officials commend African fintech talents’ innovations.

Ms Djiba Diallo, the senior fintech advisor at Ecobank Transnational Incorporated (ETI), said, “I am impressed by the quality of this year’s applications. I recognize African talents and innovations.””

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He also congratulated the semi-finalists and expressed his enthusiasm for the upcoming semi-final event in Lagos, Nigeria, where the top finalists would be announced. He eagerly anticipated the exciting competition and showcase of innovative ideas that the event would bring.

The Managing Director/Regional Executive of Ecobank Nigeria, Mr Bolaji Lawal, commented that hosting this year’s Fintech Challenge semi-final is a great honour for them.

They are pleased to welcome prominent fintech players from across the continent and are particularly proud of the strong participation from Nigerian fintechs. Their efforts contribute to Africa’s financial integration and economic growth.

In Mr. Bolaji’s remark, he said, “We invite Nigerian fintechs to take advantage of the panel discussions while also using the opportunity to network and explore partnership opportunities that will support their growth,”.