The 2024 Ecobank Fintech Challenge has unveiled its 12 finalists, representing some of Africa’s most promising fintech companies. They will compete for the prestigious $50,000 grand prize and a coveted spot in the Ecobank Fintech Fellowship program.

The announcement was made during the first semi-final event, hosted at the Ecobank Pan African Centre in Lagos, Nigeria. Speaking at the event, Bolaji Lawal, Director/Regional Executive of Ecobank Nigeria, and Niyi Olagbami, Executive Director/Chief Risk Officer, introduced the finalists, highlighting the diversity and innovation of the selected companies.

Read also: Ecobank selects 40 top African fintech innovators.

A Pan-African Showcase of Fintech Excellence

The finalists, chosen from a pool of over 1,550 submissions from 70 countries, include Buupass (Kenya), MiaPay (Togo), Sawport Video Banking (Nigeria), EasyEquities (South Africa), PaySika (Cameroon), Exuus (Rwanda), Sproutly Africa (Nigeria) Daba Finance (Cote D’Ivoire), PROBOUTIK (Senegal), Melanin Kapital Neobank (Kenya), YMO Africa (Guinea), and VaultPay (Democratic Republic of Congo).

Each of these companies has demonstrated exceptional talent and the potential to impact the continent’s financial landscape significantly.

Jeremy Awori, CEO of Ecobank Group, praised the finalists for their creativity and entrepreneurial spirit. “The finalists in this year’s Ecobank Fintech Challenge have showcased exceptional talent and innovation, and we look forward to welcoming them to the finale,” Awori stated.

“Ecobank is committed to collaborating with these business builders to develop products and services that will benefit our customers and contribute to our continent’s progress.”

A Platform for Growth and Collaboration

Isaac Kamuta, Group Head of Payments Service, Cash Management & Client Access at Ecobank Group, emphasised that the challenge goes beyond competition. “This challenge is more than just a competition. It is an African initiative designed to identify, nurture, support, and collaborate with innovative businesses that want to scale across Africa,” Kamuta explained.

He underscored the importance of providing fintech startups with opportunities for technical integration, commercial partnerships, and access to Ecobank’s 35 African markets.

Kamuta further noted the significance of scaling across borders: “Nobody builds a business to remain in one country. You all want to build a business that has scale across Africa and globally.”

Read also: Ecobank announces $50,000 fintech challenge for African startups in 35 nations

Looking Ahead to the Grand Finale

The finalists will now prepare to present their solutions at the Ecobank Fintech Challenge Grand Finale, set to take place on September 27, 2024, at the Ecobank Pan African Centre in Lomé, Togo. The event will be streamed live on Ecobank Group’s social media channels, allowing a global audience to witness the culmination of this year’s challenge.

As the countdown to the grand finale begins, the finalists are eager to showcase their innovations and compete for the top prize. They know that a partnership with Ecobank could be the key to unlocking new markets and driving growth across the continent.