ABIDJIAN–Ecobank, the leading pan-African financial services group, announced Daba Finance, the Ivorian Fintech, as the Grand Winner of its flasghip Ecobank Fintech Challenge 2024.
Twelve (12) innovative fintech startups competed to impress the esteemed panel of five judges for the US$50,000 prize. The judges, comprised of renowned industry experts, evaluated the finalists based on criteria such as innovation, market potential, scalability and team strength.
After fierce competition, Daba Finance takes home US$50,000 with its solution to make investing accessible to everyone by offering a one-stop investment platform for trading stocks, bonds, and other financial products.
BOUM III JR, CEO of Daba Finance, expressed immense gratitude for the opportunity and the recognition, stating, “Winning this challenge propels our mission to make investing and wealth building opportunities available for all. With Ecobank as our partner, we are accelerating the journey to making our innovation accessible to millions and bringing financial empowerment to the continent.”
The judges also rewarded two additional fintechs whose solutions made a lasting impression. Melanin Kapital from Kenya took second place, winning US$10,000 and Guinean’s fintech YMO secured third place with US$5,000. For the first time, the general public was given the opportunity to vote for their preferred fintech, and MiaPay from Togo won the “Public Choice Award” for this year’s edition.
The 12 finalists were carefully selected from a record 1,550 Fintech Challenge 2024 entrants from 70 countries, demonstrating the competition’s rising prominence over its seven years. This also showcases the impressive innovation and creativity, especially on the African continent.
At the Ceremony, all the finalists were enrolled into the prestigious Ecobank Fintech Fellowship programme, which provides them with valuable exposure to investors and industry leaders, access to Ecobank’s Banking Sandbox to test and develop their innovative solutions, with the possibility of scaling across the Bank’s large pan-African footprint.