Daba Finance Crowned Grand Winner of Ecobank Fintech Challenge 2024

Togo’s MiaPay also received the “Public Choice Award,” as voted on by the general public, a first for the competition.

Ecobank, the leading pan-African financial services group, has announced Daba Finance, a fintech startup from Côte d'Ivoire, as the Grand Winner of its prestigious Ecobank Fintech Challenge 2024. Out of twelve innovative startups, Daba Finance emerged victorious, securing a $50,000 prize for its one-stop investment platform that simplifies access to trading stocks, bonds, and other financial products, making investing accessible to all.

The competition featured a diverse group of startups evaluated by a panel of five judges, who based their decisions on innovation, market potential, scalability, and team strength. Boum III Jr., CEO of Daba Finance, expressed gratitude for the award, stating that it would further their mission to democratize investment opportunities and drive financial empowerment across Africa. "With Ecobank as our partner, we are accelerating our journey to making our innovation accessible to millions," said Boum.

In addition to Daba Finance, two other fintechs received special recognition. Kenyan startup Melanin Kapital took second place, winning $10,000, while YMO from Guinea secured third place with a $5,000 award. Togo’s MiaPay also received the “Public Choice Award,” as voted on by the general public, a first for the competition.

Ecobank’s Fintech Challenge continues to grow in prominence, attracting a record 1,550 entrants from 70 countries for the 2024 edition. This annual event, which began in 2017, has now enrolled 72 fintechs into its prestigious Ecobank Fintech Fellowship. The program offers access to Ecobank’s Banking Sandbox to test and develop innovative solutions, as well as valuable exposure to investors and industry leaders, with the potential to scale across the bank's vast pan-African network.

Jeremy Awori, Ecobank Group CEO, commended the participants for their groundbreaking contributions to fintech innovation, particularly in Africa, which he described as a global hub for digital financial solutions. “Ecobank’s Fintech Strategy focuses on leveraging our borderless pan-African digital platform to provide cutting-edge solutions that benefit millions of Africans. I’m immensely proud of the twelve finalists and excited to see how our collaboration will help them grow and scale,” Awori said.

The Ecobank Fintech Challenge 2024 was supported by a range of partners, including Konfidants, Proparco, Huawei, Asky Airlines, TechCabal, and others. Special thanks were extended to Asky Airlines, which provided round-trip tickets to the winners.

Since its inception, the Ecobank Fintech Challenge has received over 7,000 applications from innovators in 70 countries, underscoring the growing role of fintech in driving financial inclusion and innovation across Africa.