Ecobank has announced the eleven start-ups which were shortlisted for the 2nd edition of the annual Ecobank Fintech Challenge. The startups include Wallet.ng from Nigeria, Lypa from Kenya, Nala from Tanzania, Litee from Benin Republic, SESO Global from South Africa,, InvestED from Sierra Leone, Eversend, France, Secapay from Nigeria, Virtual Identity from South Africa, MojiPay from Togo, and Germany’s Awamo.
The eleven startups will be honored at the Innovation Fair & Awards ceremony to be held at the global headquarters of Ecobank in Lomé, Togo on the 30th of August, 2018. At the ceremony, the startups will showcase their products to a jury of Ecobank Africa Fintech Prize. The top innovator and two runners-up will win cash prizes worth US$10,000, US$7,000, and US$5,000 respectively.
Ecobank Group CEO, Ade Ayeyemi, said: “At Ecobank our digital strategy is spectacularly successful and has changed the landscape of African banking, so it goes without saying that we see fintech as a vital component for the economic transformation of the continent and the prosperity of its citizens.’’ He also mentioned that Ecobank wants to do all it can to encourage the next generations of fintech entrepreneurs across the continent.
The eleven finalists will also be enrolled into the Ecobank Fintech Fellowship for a period of six months. During this period, the Ecobank Fintech Fellows will benefit from an opportunity to further explore partnerships with the Ecobank Group.
‘’Africa has a proud history of innovation, and today’s fintech start-ups are the potential giants of tomorrow. We’re delighted by the quality of our Fintech Challenge finalists and have high hopes that they will capitalise on the mentoring and support opportunities of the Ecobank competition on their journeys to future success.” Edy dOgbogu, Ecobank Group Executive for Operations and Technology said.
The Ecobank Fintech Challenge is designed in partnership with the advisory firm Konfidants and is supported by partners across Africa and the world.