Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


5 Kenyan startups picked as finalists in the Ecobank Fintech Challenge

Lomé, Togo, May 27 – Five Kenyan financial tech startups have made it to the finals of the ‘Ecobank Fintech Challenge,’ a competition for African technology start-ups launched in January 2017.

The five; MobiTill, TEAM SAFEPA, Greenshoe, Shield Finance and Circle Group Savings and Investment, will joing 15 other innovators from across the continent in an awards ceremony on June 21, at Ecobank headquarters in Lome.

At the ceremony, the start-ups will exhibit and pitch their products to a jury for the ‘Ecobank Africa Fintech Prize’, which will be awarded the top innovator and two runners-up. In addition to the fellowship program, the top three innovators will win cash prizes worth US$10,000, US$7,000, and US$5,000 respectively.

The 20 Ecobank Fintech Fellows will benefit from an opportunity to partner with the Ecobank Group that includes start-up funding worth up to US$500,000 for products that meet Ecobank’s investment criteria, multinational product roll-out support for the most commercially viable start-ups to launch their products across Ecobank’s 33 markets in Africa.

The startups will also get service provider & ecosystem partner deals for start-ups with deep capabilities to
become service partners within Ecobank’s ecosystem and technical & mentoring support.

Eddy Ogbogu, Ecobank Group Executive for Operations and Technology said the Fintech Challenge has been a huge success with over 850 start-ups and developers submitting products from all over Africa, as well as the US and Europe.

“As a pan-African bank, we want to help grow pan-African fintech companies. The Ecobank Group and its partners are looking forward to working with the 20 start-ups to help them mature into major African and global commercial success stories,” Group CEO Ade Ayeyemi added.

The other 20 start-ups are; (Nigeria), Digi Teller (Ghana), Wallettec (South Africa), , Invest Mobile (Ghana), KUDI(Nigeria), Wayagear Innovations Lagos (Nigeria), Paylater OneFi (Nigeria), PAYVITE (Algeria), PurseNG (Nigeria), IroFit(Nigeria), Inclusive Financial Technologies (Ghana), Electronic Settlement Limited(Nigeria), Social Lender(Nigeria), General Marchant (United States), Mi Nafa (Burkina Faso).

Ecobank Fintech Challenge is designed in partnership with the advisory firm Konfidants and
supported by partners across Africa and the world.

Advertisement. Scroll to continue reading.
Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...