{"id":13287,"date":"2023-10-11T12:13:11","date_gmt":"2023-10-11T12:13:11","guid":{"rendered":"https:\/\/techandbiz.com.ng\/tab-backup\/?p=13287"},"modified":"2023-10-11T12:14:07","modified_gmt":"2023-10-11T12:14:07","slug":"koree-a-cameroonian-fintech-emerges-as-winner-of-the-2023-ecobank-fintech-challenge","status":"publish","type":"post","link":"https:\/\/techandbiz.com.ng\/tab-backup\/2023\/10\/11\/koree-a-cameroonian-fintech-emerges-as-winner-of-the-2023-ecobank-fintech-challenge\/","title":{"rendered":"Koree, a Cameroonian Fintech Emerges as Winner of the 2023 Ecobank Fintech Challenge"},"content":{"rendered":"

Koree from Cameroon is the competition\u2019s first ever female-led fintech winner having beaten eight other finalists to claim the top prize of US$50,000; Wolf Technology from Democratic Republic of Congo came in second, winning US$10,000, while Kenya\u2019s Flexpay Technologies were the second runner-up, taking home US$5,000; the 2023 edition drew participation from over 1,400 fintechs spanning 64 countries.<\/em><\/p>\n

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Pan-African Banking Group, Ecobank Group, has announced\u00a0Koree, a fintech company based in Cameroon, as the overall winner of the 2023 Ecobank Fintech Challenge. The announcement was made by a distinguished panel of judges during the competition\u2019s Grand Finale at the bank\u2019s headquarters at the Pan African Centre in Lom\u00e9, Togo.<\/p>\n

 <\/p>\n

Koree emerged winner after facing fierce competition from seven other fintechs, all of whom pitched their innovative fintech solutions to an independent panel of five judges. These eight finalists were carefully selected from an initial pool of over 1,400 fintechs from 64 countries, underscoring the significant growth in popularity of the competition since its inception six years ago, as well as the wealth of innovation and ingenuity, particularly on the African continent.<\/p>\n

 <\/p>\n

The eight finalists are Flexpay Technologies (Kenya), IPOXcap AI (South Africa), Kastelo (South Africa), Koree (Cameroon), Kori Tech (Senegal), Smart Teller Technologies (Nigeria), Rubyx (Belgium) and Wolf Technologies (DRC) .<\/p>\n

 <\/p>\n

Koree was declared the ultimate winner after three judging rounds and will receive a cash prize of US$50,000 for this outstanding achievement. Wolf Technologies, who were the first runner-up, will take home US$10,000, while Flexpay Technologies, second runner-up, receives US$5,000.<\/p>\n

 <\/p>\n

The Ecobank Fintech Challenge cash prize is one of the most substantial no-strings-attached fintech cash prizes available in Sub-Saharan Africa, specifically aimed at encouraging innovation within the fintech sector. With their card wallet payment solution that digitizes merchant payments, Koree impressed the judges, securing their well-deserved victory.<\/p>\n

 <\/p>\n

The winner, along with the other seven finalists, were inducted into the prestigious Ecobank Fintech Fellowship. This unique programme offers fintech companies the opportunity to explore potential commercial partnerships with Ecobank, including the possibility of seamless integration with the bank\u2019s platforms and the potential for scaling up their fintech ventures across Ecobank\u2019s 35 African markets.<\/p>\n

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We extend our warmest congratulations to Koree, the first ever female-led fintech winner of our challenge<\/p><\/blockquote>\n<\/div>\n

 <\/p>\n

Jeremy Awori, Chief Executive Officer, Ecobank Group, said: \u201cThis year’s eight finalists have demonstrated exceptional innovation and promise. We look forward to collaborating with them to develop groundbreaking products, services and solutions that will ultimately benefit our valued customers and contribute to the advancement of our continent. We are convinced that forging sustainable partnerships with fintechs and the overall tech ecosystem remains a viable strategy in our pursuit of delivering convenient, affordable services to our customers.\u201d<\/em><\/p>\n

 <\/p>\n

Acknowledging the winner, Jeremy Awori added, “We extend our warmest congratulations to Koree, the first ever female-led fintech winner of our challenge, for their outstanding victory and innovative contributions to the fintech landscape. We look forward to a greater collaboration.”<\/p>\n

 <\/p>\n

Mr. Awori delivered his remarks during the Grand Finale, which was also attended by Madam Cina Lawson, Minister of Digital Economy and Transformation, Republic of Togo. In his speech, Mr. Awori expressed Ecobank\u2019s profound gratitude to the jury and conveyed appreciation to the sponsors and partners, including Huawei, this year\u2019s gold sponsor, Arise, Proparco, Asky Airlines, Jeune Afrique and The Africa Report.<\/p>\n

 <\/p>\n

Of special note, sponsor Asky Airlines, which flies to 28 destinations across Africa, awarded free roundtrip tickets to the top three winners. Asky CEO, Esayas Woldemariam handed over the tickets to the winners during the event.<\/p>\n

 <\/p>\n

Magalie Gauze-Sanga, CEO of Koree, expressing her excitement of winning the Fintech Challenge, commented: \u201cKoree winning the Ecobank Fintech Challenge is a triumph for innovation and for diversity. We are very proud that the technological innovation we have been implementing in Cameroon for many years has been rewarded, and it is also noteworthy that this is the first time a woman has won the Ecobank Fintech Challenge prize. We\u2019re excited to work with Ecobank Group across its large footprint to further transform the financial landscape in Africa by digitizing cash-based payments while simultaneously empowering millions of consumers and bringing value to local brands and retailers.<\/em>\u201d<\/p>\n

 <\/p>\n

Since its inception in 2017, the Ecobank Fintech Challenge has attracted over 5,500 submissions from fintech innovators representing 64 countries across its six editions. Out of this impressive pool of talent, 60 exceptional fintechs have been inducted into the Ecobank Fintech Fellowship.<\/p>\n

 <\/p>\n

Other partners in this year\u2019s challenge include Konfidants, TechCabal, Africa Fintech Network, ALX Ventures, Afrilabs, MEST Africa, Africa Business Angels Network, BlueSpace, and Naija Start-ups.<\/p>\n","protected":false},"excerpt":{"rendered":"

Koree from Cameroon is the competition\u2019s first ever female-led fintech winner having beaten eight other finalists to claim the top prize of US$50,000; Wolf Technology from Democratic Republic of Congo came in second, winning US$10,000, while Kenya\u2019s Flexpay Technologies were the second runner-up, taking home US$5,000; the 2023 edition drew participation from over 1,400 fintechs […]<\/p>\n","protected":false},"author":1,"featured_media":13288,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[],"class_list":["post-13287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/13287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/comments?post=13287"}],"version-history":[{"count":0,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/13287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media\/13288"}],"wp:attachment":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media?parent=13287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/categories?post=13287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/tags?post=13287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}