• Wednesday, July 24, 2024
businessday logo


Meet Six finalists in the Ecobank Fintech Challenge 2022

Ecobank boosts leadership with top-level appointments

Ecobank Group, a private pan-African banking group, has announced the six finalists for the fifth edition of the Ecobank Fintech Challenge.

The finalists come from the Democratic Republic of Congo, Nigeria, Senegal, South Africa, and Togo, the six fintech stood out from a highly competitive pool of over 700 applicants from 59 countries in and outside Africa.

According to the Ecobank group, the six finalists will compete for the top price of $50,000 at the Grand Finale, which is being held at the Ecobank Pan African Centre in Lomé, Togo, on Friday 28 October 2022. Meet the finalist for the 2022 edition.

Cauri Money, Senegal

Lamine Tall is the Co-Founder and CEO of Cauri Money a cashless remittance platform helping African migrants move money from around the world into mobile wallets in Africa. It was founded in 2021 and is based in Dakar, Senegal.

Cauri Money provides digital banking services (bank accounts with official IBANs) to 20 million Africans and 93 million migrants from other geographies living in Europe. Cauri takes a social payment approach similar to popular services like Venmo, CashApp, and Chipper Cash (Kenya) enabling free peer-to-peer payments and seamless international remittances.

DizzitUp, Togo

DizzitUp is a blockchain-powered, carbon-free distributed utility infrastructure for solving electricity scarcity in Africa.

Founded on November 2018 by 3 senior serial entrepreneurs with African roots (Kezar Fidaly & Solofo Rafenombolatiana from Madagascar, and Cedric Nicolas from Congo), DizzitUp has been developing a blockchain-based decentralised marketplace, exclusively dedicated to African Merchants in Africa, powered by a USD stablecoin.

MaishaPay, Democratic Republic of Congo

MaishaPay was launched on October 4 2012 by Landry Foxkin in the Republic of Congo. MaishaPay is a mobile application offering financial services solutions via phone. Maisha is specially designed to meet the needs of more African people. The service can be used on any type of mobile phone and on all telecom networks, the fintech company aims to serve underserved merchants and consumers in developing countries.

Moni Africa, Nigeria

It was founded in 2021 by Femi Iromini and Dapo Sobayo Moni Africa. It is a community-powered digital finance platform for African SMEs and consumers that leverages the concepts of social trust and group responsibility to offer a range of financial services to those who otherwise would not be able to access them.

Paycode, South Africa

Paycode is a South African fintech that combines biometric digital identity and payments in one platform. By offering these two solutions, users are able to access financial services that include cash pay-outs, mobile money, remittances, insurance, micro-loans, airtime, electricity, and social grants.

Paycode was launched on December 31, 2014, in South Africa by Ralph Pecker.

Touch and Pay, Nigeria

Touch and Pay Technology Services Limited (TAP), is an NFC-powered payment and financial inclusion firm currently transforming the payment landscape in Nigeria by facilitating financial inclusion and ensuring 99.9 percent reliability in cashless transaction processes.

TAP was founded in 2019 by Michael Oluwole in Nigeria.