Applications for the Ecobank Fintech Challenge 2021 edition have commenced.
The Ecobank Fintech Challenge, powered by Ecobank Group, grants eligible African fintech entrepreneurs access to mentorship sessions, support and opportunities, which includes exploring deals, integrations and commercial collaborations with the Ecobank Group in over 30 African markets they operate in as well as its international market in France.
The pan-African banking group, in partnership with Konfidants -an advisory firm- and several partners across the African continent and globally, including Accion, Catalyst Fund, Nedbank VC, and Cellulant designed the annual fintech challenge in a bid to contribute to the success stories of African fintech.
The Operations and Technology Executive at Ecobank group, Dr Tomisin Fashina, stated
"We are firm believers that Africa's talent pool is enormous and requires specialized and targeted mentorships to crystallize fully and ready Fintech startups for business engagements.
Through the Ecobank Fintech Fellowship, Ecobank is creating a learning experience through mentorship sessions with in-house, high-level technical teams and with our global partners to help shape and reshape the strategy and focus of African fintechs.
- Shortlisted finalists will participate in the Ecobank Fintech innovation fair, whereby the top 3 finalists will receive cash prizes worth $15,000, $12,000 and $10,000, respectively.
- Selected finalists get a once-in-a-lifetime opportunity to collaborate with Ecobank to launch their products and become a local country-level partner in one of the pan-African bank's 33 country ecosystems.
- All finalists would be inducted as Ecobank Fintech Fellows, which grants them access to a vast network of global and African accelerators, potential investors and mentors.
- Access to a dedicated team to aid finalists with the Ecobank's API test to improve their product for the pan-African market.
- The Fintech Challenge is open to all Fintech startups and developers on the African continent and global "African-centered" fintechs.
- Applications will close on the 20th of September, 2021.
Interested applicants should visit https://ecobankfintechchallenge.com for more information.
Africa in focus
GDP: $1.686 trillion in 2020 compared to $1.77 trillion in 2019
Population: 1.136 billion in 2020 compared to 1.107 billion in 2019
GDP per capita: $1,483 in 2020 compared to $1,599 in 2019