The Ecobank Group today announced the finalists from the 2020 Ecobank Fintech Challenge. The challenge, in its third edition, is designed to deepen collaboration between Ecobank and Fintechs with Africa focused products.
The 10 finalists Fintechs from 7 different countries, who emerged from a competitive pool of over 600 fintechs, will participate in an online Finale scheduled for August 21, 2020.
Amongst the 2020 finalists are two Ghanaian fintech companies, Norwary Technologies, and Growth Factor. Norwary Technology is a fintech company that focuses on Artificial Technology in the fintech space and Growth Factor is a fintech company whose product, Nvocia, helps small businesses with unpaid invoices to gain access to cash so that they can run their businesses.
The other 2020 Finalists include Always In-Touch Real-time ( South Africa), Fluid AI (India), Franc Group (South Africa), Leaf Global Corporation (Rwanda), Moja Ride (Ivory Coast), Papersoft S.A (Mozambique), Ukheshe Payment Solutions (South Africa), and PayChap Technologies (Tanzania).
The Finalists will pitch their products to a jury for the cash prizes for the top 3, worth US$10,000, US$7,000, and US$5,000. All the finalists will be enrolled into Ecobank’s Fintech Fellowship where they will spend the next 6 months exploring partnership opportunities which includes :
Multinational Product Roll Out
An opportunity to pursue collaboration with Ecobank and possibly launch products in Ecobank’s 33 African markets.
Service provider partnerships
A chance to become a pan-African service partner to Ecobank for Fintechs with the qualities to become product partners and offer joint services with Ecobank
Mentoring and Networking Support
Access to networking and mentoring opportunities within the Ecobank Group and its vast network of global and African partners
Integration with Existing Ecobank Digital Offerings
An opportunity to potentially integrate with Ecobank’s existing digital offerings.
Eddy Ogbogu, Group Executive, Operations & Technology said, “we congratulate the 10 Fintechs that have made it to the 2020 Finals. This is an impressive cast of innovators and we look forward to the Final event where we will honour them and potentially build productive collaborations.”
