“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

The Ecobank Group announces the winners of the 2020 edition of the Fintech Challenge

The 10 finalists have been officially admitted into Ecobank's Fintech Mentorship Program to explore business partnerships with the pan-African banking giant

The Ecobank Group announces the winners of the 2020 edition of the Fintech Challenge

Nokwary, Ukheshe and Growth Factor impressed the jury by winning the three prizes awarded; the 10 finalists were officially admitted into Ecobank's Fintech Mentorship Program to explore business partnerships with the pan-African banking giant.
The Ecobank Group (www.Ecobank.com) today announced the winners of the Ecobank Fintech Challenge competition after an exciting virtual event broadcast live from Accra, Ghana.

Nokwary Technologies won the competition, beating the other finalists. Ukheshe Payment and Solutions Growth Factor Technologies placed second and third respectively. The winners will receive respectively, according to their ranking from first to third place, cash prizes valued at US $ 10,000, 7,000 and 5,000.

Nokwary, from Ghana, is a Fintech company that uses Artificial Intelligence (AI) to promote financial inclusion. Its banking solution offers users the ability to transact in a language familiar to them using popular social networks such as Whatsapp.

South Africa-based Ukheshe, which came in second, bridges the gap between card payment systems and the cash-based economy. She created the world’s first card payment platform that allows unbanked merchants to accept and make digital payments.

In third place, Growth Factor is a Fintech company that provides trade finance solutions designed for micro, small and medium enterprises (MSMEs) to drive financial inclusion and growth. Its Nvoicia solution solves small businesses' cash flow problems caused by late payments, ensuring payment within 24 hours when dealing with buyers. 



Ade Ayeyemi, Managing Director of Ecobank Group, congratulated the winners for their innovation and welcomed all beneficiaries of the 2020 Program: “The quality of the products and presentations we saw at the competition this year was impressive. It is obvious that the banking sector in Africa is taking on a new dimension thanks to these FinTech companies which are leading by example. This is why we are so proud to have given them the opportunity to participate in this year’s competition and we are happy to work with them next year. We hope that we can establish some lasting partnerships that will help improve the lives of Africans across the continent. "

Dennis Asamoah Owusu, CEO and Co-Founder of Nokwary Technologies, said, “I was more than delighted. Our company is rather young; to be recognized at this level was really empowering and is proof that we did well to focus on developing inclusive technology from the start. It is also very encouraging that a big bank like Ecobank places such importance on financial inclusion and is ready to support and promote innovative cutting edge technologies in this area. We are looking to work with Ecobank to deliver an AI-first technology-based digital banking platform through WhatsApp, as well as other innovative solutions for Ecobank customers. " 



This year’s finalists were selected from over 600 excellent applicants from Africa, Europe, North America and Asia. The ten (10) finalists have been officially admitted to Ecobank's Fintech Mentorship Program, a one (01) year program that will give them the opportunity to explore the possibilities of business partnerships with the Ecobank group, and possibly launch and deploy products in the 33 countries of the continent where Ecobank is present.

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