The Ivorian fintech startup Daba Finance has emerged as the victor of the Ecobank Fintech Challenge this year, securing a substantial reward of US$50,000. Ecobank, a prominent independent banking group with a pan-African presence, caters to over 32 million customers across various sectors, including consumer, commercial, and corporate banking, spanning 35 nations on the continent.
The Ecobank Fintech Challenge, now in its seventh iteration, is an annual competition that opens doors for both nascent and established startups to forge partnerships with Ecobank in its extensive network of 33 countries. This year’s challenge saw a dozen cutting-edge fintech startups vying for the judges’ approval and the coveted US$50,000 prize.
Daba Finance distinguished itself amidst stiff competition, clinching the top award with its innovative platform designed to democratize investing. The platform serves as a comprehensive hub for trading a variety of financial instruments such as stocks and bonds, making investment opportunities accessible to a broader audience.
In addition to the grand prize winner, the challenge recognized the achievements of two other fintech companies. Melanin Kapital from Kenya earned the second-place spot and a prize of US$10,000, while the Guinean fintech firm YMO came in third, receiving US$5,000.
For the first time in the history of the Ecobank Fintech Challenge, the public was invited to cast their votes for their favorite fintech contender. MiaPay from Togo captivated the public’s interest and was honored with the “Public Choice Award” for this year’s competition.
