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2018 Ecobank Fintech Challenge Opens for African Start-ups

By Dipo Olowookere

Leading pan-African banking group, Ecobank, is inviting African fintech entrepreneurs to enter its Ecobank Fintech Challenge.

Now in its second year, the initiative gives African start-ups the chance to promote their fintech solutions, and potentially to partner Ecobank in rolling-out their solutions across Ecobank’s 33 markets.

Ecobank is currently welcoming submissions from all start-ups and developers in any of Africa’s 54 countries to enter its 2018 Ecobank Fintech Challenge at http://EcobankFintech.com.

Ecobank Fintech Challenge was designed in partnership with the advisory firm Konfidants and is supported by several partners across Africa and globally. Applications for the competition will close on May 20, 2018.

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Ten finalists will be selected to participate in an Awards and Innovation Fair at the global headquarters of Ecobank in Lomé, Togo in July 2018.

Following a series of pitches from the finalists, a panel of judges will select the top three winners, who will receive cash prizes worth $10,000, $7,000, and $5,000 respectively.

All 10 finalists will also be conferred Ecobank Fintech Fellows and will qualify to explore opportunities to partner with Ecobank including multi-national product roll-out: the most commercially viable start-ups can launch their products in Ecobank’s 33 markets across Africa; service provider partner deals: start-ups with deep capabilities to become pan-African service partners within Ecobank’s ecosystem; and mentoring and networking support: founders will be conferred as Ecobank Innovation Fellows for a year, which grants them access to networking and mentoring from Ecobank’s vast global network of technology leaders, fintech experts, investors and management coaches.

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Group CEO of Ecobank Transnational Incorporated, Mr Ade Ayeyemi, reiterated Ecobank’s dedication to support innovations in banking and finance across the continent, stating, “We, at Ecobank, believe that the current winds of change led by technology and innovation will redefine how banks do business, and indeed the relationships people have with their money. We want to be at the forefront of this change, in partnership with Africa’s rising start-ups, and that is why we created the Ecobank Fintech Challenge.”

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Mr Eddy Ogbogu, Ecobank Group Executive for Operations and Technology said, “The maiden 2017 edition of the Challenge proved that Africa has an impressive army of highly capable fintech start-ups. Ecobank is looking forward to another successful competition.”

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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