By Ngozi Onyeakusi—Ecobank, the pan-African Bank, has announced that its first-ever Fintech Challenge semifinal event will be held in Lagos, Nigeria. Scheduled for Wednesday, August 14, the hybrid event will take place at the Ecobank Pan African Centre (EPAC) Lagos.

The 2024 “Ecobank Fintech Challenge had over 1,550 applications from 70 countries from which only 40 semi-finalists were shortlisted. After reviewing their applications, a jury has selected the top finalists who will be announced at the semi-final event. They will compete in the Grand Finale for a $50,000 prize and a spot in the Ecobank Fintech Fellowship program which would provide a major boost for their innovations.

Ecobank Fintech Fellows have access to numerous opportunities through collaborations with Ecobank and its partners, potentially including an opportunity to integrate their solutions with Ecobank, opening doors to potential product launches within Ecobank’s expansive 35-country Pan-African network. Selected fintechs may become Pan-African service partners within the Bank’s ecosystem. Fellows receive exclusive access to Ecobank’s cutting-edge APIs, enabling them to test and develop their products for the Pan-African market, and they also have priority access to Ecobank’s Venture Capital partners for funding exploration.

Djiba Diallo, Senior Fintech Advisor, Ecobank Transnational Incorporated (ETI) remarked “I am impressed by the quality of this year’s applications. I recognize the African talents and innovations. I also congratulate the semi-finalists and look forward to an interesting semi-final event in Lagos, Nigeria where we will announce the top finalists.”

Bolaji Lawal, Managing Director/Regional Executive of Ecobank Nigeria said he is glad that Nigerian affiliate was hosting the semi-finals, announcing an inspiring and thought-provoking panel of discussion with the Nigerian fintech community as a prelude to the hybrid event.

According to him, “Hosting this year’s Fintech Challenge semifinal is a great honour for us. We are thrilled to welcome prominent fintech players from across the continent and are particularly proud of the strong participation from Nigerian fintechs. Their efforts contribute to Africa’s financial integration and economic growth. We invite Nigerian fintechs to take advantage of the panel discussions, while also using the opportunity to network and explore partnership opportunities that will support their growth”.

The Ecobank Fintech Challenge, designed in partnership with international advisory firm Konfidants, is supported by a range of partners including Huawei, Proparco, TechCabal, BlueSpace, Afrilabs, Africa Fintech Network, MEST Africa, Naija Startups, Expand in Africa, and Founders Africa.