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Ivorian fintech company Daba Finance has been crowned the winner of the 2024 Ecobank Fintech Challenge, as announced by Ecobank, a prominent pan-African financial services group.
Kenya’s Melanin Kapital secured second place, earning a $10,000 prize, while YMO, a fintech based in Guinea, took third place and received $5,000. In a notable first, the public was invited to vote for their favorite fintech, with Togo’s MiaPay winning the “Public Choice Award.”
Expressing gratitude for the recognition, Daba Finance’s CEO, BOUM III JR, stated, “This win propels our mission to make investing and wealth-building accessible to all. With Ecobank as our partner, we are accelerating our journey to bring financial empowerment to millions across the continent.”
The Ecobank Fintech Challenge featured 12 innovative startups competing for the grand prize of $50,000, selected from a record 1,550 applications spanning 70 countries—marking the highest participation in the competition’s seven-year history. Organizers believe this surge in applications reflects the growing significance of the event and the remarkable innovation shaping fintech across Africa.
During the awards ceremony, Ecobank Group CEO Jeremy Awori praised Africa as a global hub for fintech innovation, continuously pushing the envelope to enhance convenience and develop new digitally enabled capabilities. He emphasized that Ecobank’s Fintech Strategy focuses on leveraging its borderless pan-African digital platform to deliver cutting-edge solutions that will benefit millions of Africans.
“I am particularly proud of our achievements with fintechs through the annual Ecobank Fintech Challenge. The quality of pitches from our twelve finalists has truly impressed me, and I congratulate Daba Finance for rising to the top. I eagerly anticipate how our collaboration will support their growth and scaling efforts,” he remarked.
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