Ivorian fintech startup, Daba Finance, has emerged as the grand winner of the 2024 Ecobank Fintech Challenge, securing the top prize of US$50,000. The victory came after a fierce competition that saw twelve innovative fintech startups from across Africa pitch their solutions to a panel of five industry judges.
Daba Finance stood out for its groundbreaking investment platform, which makes trading stocks, bonds, and other financial products more accessible to the general public. This solution aims to democratize investing, providing a one-stop platform for users looking to grow their wealth through various financial products.
The startup’s CEO, Boum III JR, expressed his excitement about the win, stating, “This victory propels our mission to make investing and wealth-building opportunities available to everyone. Partnering with Ecobank allows us to scale and bring our innovation to millions across the continent.”
Earlier, Ecobank had named the twelve startups that made it to the finals of the Fintech Challenge, each vying for the grand prize.
Read also: 12 startups named finalists of Ecobank Fintech Challenge.
The event also recognized other fintechs besides Daba Finance. Melanin Kapital from Kenya took second place, earning US$10,000, while Guinean fintech YMO claimed third place with a prize of US$5,000. Additionally, MiaPay from Togo won the “Public Choice Award,” a new category introduced this year, where the general public voted for their favorite fintech.
Ecobank’s Group CEO, Jeremy Awori, lauded the quality of the competition, noting that the high standard of pitches demonstrated the exceptional level of innovation in Africa’s fintech space. “Daba Finance’s win highlights their potential to transform the investment landscape in Africa, and we’re excited to help them scale their solution through our pan-African platform,” Awori remarked.
The Ecobank Fintech Challenge, now in its seventh year, is a platform designed to identify and support fintech startups with the potential to drive financial inclusion across Africa. All finalists, including Daba Finance, will join the prestigious Ecobank Fintech Fellowship, gaining access to Ecobank’s extensive resources, including its Banking Sandbox, and exposure to key investors and industry leaders.
