Home Market African fintechs emerge as finalists in the Ecobank Fintech Challenge 2022

African fintechs emerge as finalists in the Ecobank Fintech Challenge 2022

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The six finalists of the fifth edition of Ecobank’s Fintech Challenge have been revealed. They are from Nigeria, South Africa, Senegal, the Democratic Republic of Congo, and Togo.

The six fintech that were chosen from a large pool of applicants were able to stand out from the crowd. They will compete for the grand prize of $50,000 at the Ecobank Pan African Centre’s Grand Finale on October 28.

Through the fifth edition of the competition, which is sponsored by Arise, the six finalists will be able to receive additional support from Ecobank. This will allow them to explore various opportunities in the financial industry.

The finalists for the 2022 edition, in alphabetical order, are:

• Cauri Money, Senegal

• DizzitUp, Togo

• MaishaPay, Democratic Republic of Congo

• Moni Africa, Nigeria

• Paycode, South Africa

• Touch and Pay, Nigeria

Through the fifth edition of the Ecobank Challenge, which is sponsored by arise, the finalists will be able to benefit from the bank’s Fintech Mentoring Programme. This initiative will help them explore various opportunities in the financial services industry

• Rolling out their products on a pan-African scale: an opportunity to further integrate with Ecobank and potentially launch their products or services in all or part of Ecobank’s 33-country pan-African ecosystem.

• Access to the Group’s pan-African Banking Sandbox to test and develop their products in the pan-African market.

• Priority access to Ecobank’s venture capital partners to explore funding opportunities.

According to Tomisin Fashina, the Group Executive of Technology and Operations at Ecobank, the number of applications for the company’s Fintech Challenge has increased significantly over the past couple of years. This shows a significant change in the attitude of Africans toward technological innovation.

The organizers of the competition would like to express their gratitude to all the participants for their participation. We look forward to working with them to promote financial inclusion and address the unique challenges of the continent.

Gavin Tipper, the CEO of Arise, said that fintech are vital to the development of new digital solutions that help improve the customer experience and reduce costs. He noted that the company’s investments in these organizations are based on their collaborative efforts to expand financial inclusion in Africa.

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