in Entrepreneurs, In The Hub, Opportunities, Press Releases, Startups

From 900 entries, here are the 5 finalists of the Ecobank fintech challenge

The grand finale is scheduled for 9th December 2021

by Tech in Africa November 25, 2021, 4:44 pm 770 Views

On Thursday, 11th of November, Ecobank Group announced the finalists of the fourth edition of its annual Fintech Challenge. The annual challenge is centered on Africa technology startups. This announcement was made at a virtual press conference.

This challenge is designed to help fintechs with Africa-focussed products to join forces with leading pan-African lenders to provide Africans with groundbreaking financial services. This year’s finalists came from five countries. The finalists were shortlisted from a pool of close to 900 fintechs that made it to the 2021 Fintech Challenge.

The finalists are now to pitch before a jury that will pick the most promising products. Prize awards for the top three finalists will be cash prizes of US$15,000, US$12,000, and US$10,000 respectively.

Here are today’s 2021 Ecobank Fintech Challenge Finalists:

Anadata Limited (Nigeria)

An automated address verification system using big data analysis to accelerate this process while improving recovery.

Motito (Ghana)

Provides financial inclusion through a buy-now-pay-later platform allowing SMEs to offer interest-free credit at point-of-sales.

Fourth line (Kenya)

Developed Pollen, a USSD ecosystem conducting cross-telecom payments and savings for the unbanked.

Trove Finance (Nigeria)

Built-in software (APIs & Tools) allowing African Individuals and financial institutions.

Oko Finance (Mali).

Offers small-scale farmers mobile-based new-generation index insurance and access to affordable loans, weather alerts, and farming tips.

Ecobank Fintech Challenge is designed as a partnership with advisory firm Konfidants and backed by partners across Africa and worldwide.