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Cameroon’s Koree has achieved a groundbreaking victory in the 2023 Ecobank Fintech Challenge, becoming the competition’s first-ever female-led fintech winner. This historic win marks a significant milestone in the world of fintech.
The 2023 edition of the Ecobank Fintech Challenge witnessed participation from more than 1,400 fintechs spanning 64 countries, underscoring the competition’s growing popularity and global reach. Koree’s triumph came after intense competition from seven other finalists, including Flexpay Technologies (Kenya), IPOXcap AI (South Africa), Kastelo (South Africa), Kori Tech (Senegal), Smart Teller Technologies (Nigeria), Rubyx (Belgium), and Wolf Technologies (DRC).
The announcement of Koree’s victory was made during the Grand Finale held at Ecobank Group’s headquarters in Lomé, Togo. Koree’s winning solution, an exceptional card wallet payment system that digitizes merchant payments, secured the prestigious first-place prize of $50,000. This victory symbolizes the wealth of innovation and creativity thriving within the African fintech landscape.
Koree’s success has earned the company a substantial cash prize of $50,000. The first runner-up, Wolf Technologies, received $10,000, while the second runner-up, Flexpay Technologies, was awarded $5,000. Beyond the monetary rewards, all eight finalists, including Koree, have been inducted into the esteemed Ecobank Fintech Fellowship.
This exclusive program offers fintech companies a valuable opportunity to explore potential commercial partnerships with Ecobank, including seamless integration with the bank’s platforms and the potential for scaling up their fintech ventures across Ecobank’s presence in 35 African markets.
Jeremy Awori, CEO of Ecobank Group, expressed his enthusiasm about collaborating with the winning fintech, emphasizing the importance of forging sustainable partnerships to deliver convenient and affordable services to customers. Koree’s victory also holds broader significance, representing a triumph for innovation and diversity in the fintech landscape.
Magalie Gauze-Sanga, CEO of Koree, emphasized the impact of this win, stating, “We’re excited to work with Ecobank Group across its extensive footprint to further transform the financial landscape in Africa by digitizing cash-based payments. This will simultaneously empower millions of consumers and bring value to local brands and retailers.”
The Ecobank Fintech Challenge showcases the incredible talent within the fintech industry and reflects the collaborative spirit nurtured by various partners. Sponsors like Huawei, Asky Airlines, Arise, Proparco, and others have played a pivotal role in supporting this innovative initiative, contributing to the growth and success of fintech ecosystems across Africa.
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