Twelve innovative startups vied for the top prize in the competition, which awarded Daba Finance US$50,000 for its pioneering investment platform.

Daba Finance’s platform simplifies access to trading stocks, bonds, and other financial products.

A panel of five industry experts judged the finalists, assessing the startups based on innovation, market potential, scalability, and team strength.

Daba Finance’s win was a testament to its goal of making investment opportunities accessible to all.

CEO BOUM III JR celebrated the victory, saying, “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.”

In addition to Daba Finance’s victory, Melanin Kapital from Kenya secured second place and a prize of US$10,000, while Guinean fintech YMO took third place.

This year’s competition also included a “Public Choice Award,” which went to MiaPay from Togo, voted for by the general public.

The Ecobank Fintech Challenge 2024 attracted a record 1,550 entrants from 70 countries, highlighting its growing reputation as a leading platform for fintech innovation.

All finalists were inducted into the Ecobank Fintech Fellowship, giving them access to Ecobank’s Banking Sandbox for testing and developing their solutions, along with exposure to investors and industry leaders.

Jeremy Awori, Group CEO of Ecobank, expressed his admiration for the quality of the competition and congratulated Daba Finance on their well-deserved win.

“I am incredibly impressed by the standard of pitches from our finalists. Daba Finance stood out, and I am excited to see how our partnership will help them scale,” Awori remarked.

Ecobank’s Fintech Challenge, launched in 2017, has received over 7,000 applications from fintech innovators worldwide, with 72 startups so far joining the Ecobank Fintech Fellowship.