Ecobank Group has announced the finalists of the 2021 Ecobank Fintech Challenge, which is designed to help Fintechs with Africa focused products join forces with the leading pan-African Group to provide Africans with groundbreaking financial services
This year’s final saw five finalists selected from various African countries.
The finalists, who emerged from a competitive pool of nearly 900 fintechs that entered the 2021 Fintech Challenge will participate in a virtual Finale to be held next month.
The 2021 finalists are:
• Anadata Limited from Nigeria – developed Chota, an automated address verification system that uses big sata analysis to accelerate the process while improving accuracy.
• Motito from Ghana – promotes financial inclusion in Africa through their ‘buy now pay later’ platform which allows small businesses to offer interest-free credit at point of sale.
• OKO FINANCE from Mali – offers new-generation index insurance to small holder farmers, that are mobile-based and include access to affordable loans, weather alerts and farming tips.
• Fourthline Limited from Kenya – developed Pollen which is designed to be a USSD ecosystem for conducting cross-telecom payments and savings for the unbanked.
• Trove Finance, from Nigeria – built software (APIs & Tools) that allows African Individuals and financial Institutions (banks, brokers and fund managers) access and trade US and Global stocks.
The finalists will pitch their products to a jury which will select the top three most promising products. The top three finalists will receive cash prizes of US$15,000, US$12,000 and US$10,000 respectively.
Tomisin Fashina, group executive, operations and technology, Ecobank Group, said, “The five finalists in this year’s edition have shown impressive products from a competitive group of nearly 900 applicants. I would like to personally congratulate them and express my excitement at the opportunity to work with them to bring their innovative ideas to fruition.”