Twelve African fintech startups have made it to the final round of the 2024 Ecobank Fintech Challenge. The finalists were announced at the Semi-Finals, which was held at the Ecobank Pan-African Centre in Lagos, with tie-ins from different countries such as France, Ghana, Côte d’Ivoire, Senegal, and Sierra Leone.
Now in its seventh year, the Ecobank Fintech Challenge is an annual initiative open to startups creating innovative solutions for Africans at home and in the diaspora. The challenge aims to identify and support these fintechs with resources, partnerships, funding, and market access.
The 2024 finalists were selected from 40 semi-finalists out of more than 1,550 applicants from 70 countries. Five hundred fifty-six startups with the most promising solutions made it out of the application round into the second round of screening. Of these 556, 40 startups were chosen to participate in the semi-final round.
The semi-finals culminated in a jury selection of the top 12 finalists. These 12 finalists will compete in the grand finale for a chance to win the $50,000 grand prize and a spot in the Ecobank Fintech Fellowship program. The 12 top finalists are;
1. Buupass (Kenya)
Buupass is a platform that digitises inter-city transport and allows users to compare, book, and pay for bus, train, and flight tickets. Founded by Sonia Kabra and Wyclife Omondi.
2. MiaPay (Togo)
MiaPay enables African merchants to collect digital payments, including mobile money and visa cards, in-store through a single mobile app. Founded by Tav Denkey Jr.
3. EasyEquities (South Africa)
EasyEquities is a low-cost investment platform. The fintech company lets users buy and sell local or international shares from an app. Founded by Charles Savage.
4. PaySika (Cameroon)
PaySika is a neo-microfinance bank that enables users to obtain virtual and physical visa cards, which they can load via mobile money or a bank account. Users can also receive salaries, pay bills, and shop internationally via one mobile app. Founded by Roger Ntafam, Khalil Jamai, and Stezen Bisselou-Nzengue.
5. Sawport Video Banking (Nigeria)
Sawport transforms physical bank branches into virtual branches and enables financial institutions to enhance the banking experience for their customers. Founded by Charlres Oligbo.
6. Exuus (Rwanda)
SAVE by Exuus helps unbanked Africans manage micro-savings, access micro-loans, and engage in micro-insurance within informal social savings groups. Founded by Shema Steve.
7. Daba Finance (Côte d’Ivoire)
Daba Finance is a multi-asset investment platform that allows investments in stocks, bonds, exchange-traded funds, savings products, and Venture Capital. Founded by Boum III JR and Anthony Miclet.
8. Proboutik (Senegal)
Proboutik is transforming the way informal businesses manage financing by digitising transactions, cash management, debt tracking, and more. Founded by Thierno Sakho and Abdoulaye Faye.
9. Melanin Kapital Neobank (Kenya)
Melanin Kapital creates financial access for small African businesses through climate action and carbon credits. Founded by Mélanie Keïta and Ian Minjire Kibira.
10. YMO Africa (Guinea)
YMO Africa is enhancing financial inclusion with its cutting-edge multi-service wallet and unique instant payment system. Founded by Barry Abdoulaye.
11. VaultPay (Democratic Republic of the Congo)
VaultPay is transforming finance in the DRC with a visa-powered digital wallet.
12. Sproutly (Nigeria)
Sproutly is financial management tool for African schools which offers invoice creation, payment tracking, loan access, and financial insights. They also provide families with various payment options and tuition credits. Founded by Pierre Nwoke, Maxwell Agu, and Prince Akachi
The 2024 Ecobank Innovation Fair and Grand Finale will take place on September 27, 2024, in Lomé, Togo. The winner will participate in the Ecobank Fintech Fellowship, which will run from October to December 2024.
Ecobank Fintech Fellows have access to Ecobank’s APIs to test and develop their products with Ecobank’s expansive 35-country Pan-African network. They also get the opportunity to integrate their solutions with the bank and access to Ecobank’s Venture Capital partners.
The Ecobank Fintech Challenge is run in partnership with international advisory firm Konfidant. It is supported by partners including Huawei, Proparco, TechCabal, BlueSpace, Afrilabs, Africa Fintech Network, MEST Africa, Naija Startups, Expand in Africa, and Founders Africa.
