At the Ecobank Fintech Challenge 2024, Ivory Coast’s Daba Finance secured the first place and a prize of $50,000.
Winners and Prizes
Ivory Coast’s Daba Finance emerged as the winner of the Ecobank Fintech Challenge 2024, receiving a prize of $50,000. Kenyan neobank Melanin Kapital secured the second place with $10,000, while Guinean fintech YMO took third place winning $5,000. For the first time, the general public was invited to vote for their favorite fintech, resulting in Togo's MiaPay winning the 'Public Choice Award'.
About the Challenge
The Ecobank Fintech Challenge 2024 featured 12 fintech startups, selected from a record 1,550 applications from 70 countries. The participants pitched their business ideas to a panel of five judges, evaluated on innovation, market potential, scalability, and team strength. Daba Finance stood out for its accessible investment platform, providing a one-stop-shop for trading stocks, bonds, and other financial products.
Ecobank's Role in Supporting Fintechs
All finalists, including the winners, were enrolled in the Ecobank Fintech Fellowship program, which offers access to investors and industry leaders, along with opportunities to test and develop solutions within Ecobank’s Banking Sandbox. Group CEO Jeremy Awori highlighted Africa as a global hub for fintech innovation, expressing pride in the Ecobank Fintech Challenge's role in advancing fintechs across the continent.
The Ecobank Fintech Challenge 2024 showcased remarkable innovation and creativity among African fintechs, supporting their growth and scalability. This year, Ivory Coast’s Daba Finance stood out as the winner, highlighting a significant step towards financial inclusion and strengthening the fintech industry in the region.
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