Pan-African banking group Ecobank, late last month launched a challenge for African tech start-ups to build and deploy Fintech innovations and solutions across the continent.
The challenge is open to entrepreneurs, developers and innovators across 54 African countries and developers, providing them with an opportunity to win US$500,000 in funding as well as partner with Ecobank and roll out services across 36 countries.
According to Ecobank CEO Ade Ayeyemi, “Fintech is the future of banking” – which is why the institution is ramping up support and availing its vast market infrastructure to support Africa’s brightest innovators.
The top 20 finalists of the tech challenge will be invited to an awards ceremony and an innovation fair at the headquarters of Ecobank in Lomé, Togo.
The top 3 startups at the fair will win cash prizes worth US$10,000, US$7,000, and US$5,000 respectively.
The finalists will also be conferred Ecobank Innovation Fellows and will qualify to explore a once-in-a-lifetime partnership opportunity with Ecobank Group that include:
– Major start-up funding: worth US$500,000
– Multinational product roll-out: the most commercially viable start-ups to will be assisted to launch their product(s) in Ecobank’s 33 markets across Africa
– Mentoring and support
– Service provider partnership deals: to become pan African service partners within Ecobank’s country ecosystem.