Ecobank Shortlists 40 for Fintech Challenge Semi-Final

By Aduragbemi Omiyale

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

Over 1,550 applications from 70 countries were received for this year’s contest, but the lucky 40 have been chosen to partake in the hybrid semis this week.

The Ecobank Fintech Challenge is designed in partnership 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.

It was disclosed in a statement on Monday that the semi-finalists were picked after a jury reviewed the entries received for this year’s edition.

They will compete in the grand finale for a $50,000 prize and a spot in the Ecobank Fintech Fellowship programme which would provide a major boost for their innovations.

Ecobank Fintech Fellows have access to numerous opportunities through collaborations with Ecobank and its partners, potentially including an opportunity to integrate their solutions with Ecobank, opening doors to potential product launches within Ecobank’s expansive 35-country Pan-African network.

Selected fintechs may become Pan-African service partners within the Bank’s ecosystem. Fellows receive exclusive access to Ecobank’s cutting-edge 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.

“I am impressed by the quality of this year’s applications. I recognize the African talents and innovations. I also congratulate the semi-finalists and look forward to an interesting semi-final event in Lagos, Nigeria where we will announce the top finalists,” the Senior Fintech Advisor at Ecobank Transnational Incorporated (ETI), Ms Djiba Diallo, said.

The Managing Director/Regional Executive of Ecobank Nigeria, Mr Bolaji Lawal, while commenting, said, “Hosting this year’s Fintech Challenge semi-final is a great honour for us.

“We are thrilled 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.

“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,” he remarked.