Nala, a Tanzanian based start-up which builds smartphone-based products that simplify mobile money transactions has emerged winners at the Ecobank Fintech Challenge.
The start-up was rewarded with a cash prize of USD$10,000 while USD$7,000, and USD$5,000 were given to Virtual Identity and Wallet.ng who came second and third respectively.
The Ecobank Fintech Challenge; a challenge that gives African Fintech start-ups a chance to promote their Fintech solutions, and potentially partner with Ecobank in rolling-out their solutions across Ecobank’s 33 markets.
11 Start-ups; Lypa (Kenya), Wallet.ng (Nigeria), Nala (Tanzania), Litee (Benin), SESO Global (South Africa), InvestED (Sierra Leone), Eversend (France), Secapay (Nigeria), Virtual Identity (South Africa), MojiPay (Togo), and Awamo (Germany) pitched their Fintech ideas to Judges at the Awards and Innovation Fair at Ecobank’s HQ in Togo. Nigeria’s IroFit won the 1st edition of Ecobank Fintech Challenge.
See Also: African Fintech Unconference set for Stellenbosch in September
Ecobank also enrolled the winners, and other eight finalists to their Ecobank Fintech Fellowship which will run for six months. During this fellowship, the start-ups will further explore partnerships with the Ecobank Group which include; Multinational product roll-out support, Service provider & ecosystem partner deals, and Technical & mentoring support from Ecobank’s global network of technology leaders, Fintech experts, investors and management coaches.
More Tech Stories:
- Nine African Start-ups, 2 Others Emerge Finalists at the Ecobank Challenge 2018
- Amazon Becomes Second U.S. Company to Reach $1 trillion
- AFest 2018 line-up announced
- Republic of Benin Joins Uganda, Zambia In Taxing Its Citizens For Internet
- Kenyan Based Logistics Platform, Bwala Africa Closes Ksh24 Million Debt Financing, Launches Bwalapay