Ecobank announces 20 startups for the Fintech Challenge finals

Ecobank which is the leading independent pan African bank has selected twenty finalists for its Fintech Challenge, which aims to solve Africa’s most pressing banking issues.


The Fintech Challenge, which was announced earlier this year tasked technology startups to build and extend innovative fintech and banking solutions across Africa.

Hundreds of applications were submitted and after the assessment phase was completed, Ecobank has selected twenty startups across the continent for the finals.

An award ceremony and an innovation fair will hold at the global headquarters of Ecobank in Lomé, Togo next month where the finalists will then exhibit and defend their products in front of the judges for the final prize.

The winners will receive US$10,000, US$7,000, and US$5,000 respectively, and qualify for a partnership opportunity with Ecobank Group that’ll fetch US$500,000 in further funding, mentorship and networking support, and other benefits

The 20 start-ups selected are:

Nigeria: PiggyBank, KUDI, Wayagear Innovations, Paylater, PurseNG, IroFit Technologies, Electronic Settlement Limited, and Social Lender.

Ghana: DigiTeller, Invest Mobile, and Inclusive Financial TechnologiesTechnologies.

Kenya: MobiTill, Team SAFEPAY, Greenshoe, Shield Finance, and Circle Group Saving and Investment.

South Africa: Wallettec

Algeria: PAYVITE

United States: General Marchant

Burkina Faso: Minafa