Tuesday, August 21Always On-point

Ecobank Invites African Fintech Startups To Apply For Their Funding Competition

Pan African bank, Ecobank has just called startups with Fintech solutions to apply for the Ecobank Fintech Challenge 2018. The competition is in its second year and last year over 850 contestants applied so competition will definitely be stiff.

Ecobank Fintech Challenge gives African startups a chance to promote their fintech solutions partner or an opportunity to partner Ecobank. If given a chance to partner with Ecobank, startups can help with solutions to be implemented in one of Ecobank’s 32 markets (Zim included).

The CEO of Ecobank Transnational Incorporated stated that the company is dedicated to supporting innovations in banking and finance across the internet:

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.

How to enter the competition?
Entrepreneurs, startups and developers from any of Africa’s 54 countries can apply for the competition.

There are six areas of interest and your startup should qualify in at least one of these:

Remittances
Digital Sales/Marketing
Offline mobile to mobile payments
Digital Onboarding/ Account Opening/ KYC
SME Intra-Africa Trade Platform
Multi-Channel Corporate Payments/ Collections Ecosystems
What are you competing for?
10 startups will be selected to participate in the Awards and Innovation Fair at the global headquarters of Ecobank in Lome, Togo in July 2018.

These 10 will go through a phase of pitches after which, a panel of judges will select the most impressive 3 from this list and award them $10 000, $7 000 and $5 000. The exposure to be gained from this might also be of value to startups that end up being in this top 10.

Where to apply.
Those interested can apply here. Applications will close on the 20th of May so there’s almost a month left for applications.-techzim

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