Daba Finance has been crowned the Grand Winner of the Ecobank Fintech Challenge 2024, earning $50,000 for its innovative investment platform.
Competing against twelve start-ups, Daba Finance impressed judges with its mission to make investing accessible to all.
CEO Boum III JR celebrated the win as a major step toward financial empowerment in Africa.
In a vibrant atmosphere buzzing with excitement, the Ecobank Group made an important announcement.
They declared Daba Finance as the Grand Winner of the highly anticipated Ecobank Fintech Challenge 2024.
This Ivorian fintech company stood out among twelve innovative start-ups vying for the $50,000 prize.
As the competition unfolded, a panel of five esteemed fintech experts assessed each participant.
They focused on criteria like innovation, market potential, scalability, and team strength.
The stakes were high, and the atmosphere crackled with anticipation as the finalists presented their groundbreaking solutions.
In the end, Daba Finance won the grand prize for its platform that makes investing accessible to everyone.
This one-stop investment solution offers a seamless way to trade stocks, bonds, and various financial products.
Boum III JR, the CEO of Daba Finance, expressed heartfelt gratitude for the recognition.
He stated: “Winning this challenge propels our mission to make investing and wealth-building opportunities available for all.
“With Ecobank as our partner, we are accelerating access to our innovation for millions.
“Also, we are promoting financial empowerment across the continent”.
Moreover, the judges also recognised two other outstanding fintechs.
Melanin Kapital from Kenya secured second place and won $10,000, while YMO from Guinea took third place with a prize of $5,000.
Daba Finance Opens New Opportunities
For the first time, the public had the chance to vote for their favorite fintech, and MiaPay from Togo won the “Public Choice Award” for this edition.
Ecobank noted that they chose the twelve finalists from a record 1,550 entrants representing 70 countries.
This highlights the growing significance of the competition over its seven-year history.
At the awards ceremony, the Ecobank Fintech Fellowship programme welcomed all finalists.
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This initiative offers them valuable exposure to investors and industry leaders.
Additionally, it provides access to Ecobank’s Banking Sandbox for testing their innovative solutions.
There are also opportunities for scaling across the bank’s extensive pan-African network.
Mr. Jeremy Awori, the Group CEO of Ecobank, celebrated the innovation flourishing in Africa.
“The continent is a hotbed for fintech innovation, constantly pushing boundaries to enhance convenience and establish new digitally enabled capabilities,” he stated.
He expressed pride in the achievements of the fintechs participating in the Ecobank Fintech Challenge.
“I am hugely impressed by the quality of the pitches from our twelve finalists, and I congratulate Daba Finance for reaching the top of the podium.
“I look forward to seeing how our collaboration will help them grow and scale,” he added, emphasising the bright future ahead for fintech innovation in Africa.
