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A Record 1,490 Fintechs entered the Ecobank Fintech Challenge 2023 with Eight (8) reaching the Final

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Ecobank Fintech Challenge

This is the sixth edition of this international competition, with the highest number of applications on record

LOMÉ, Togo, August 24, 2023/APO Group/ — 

Eight finalists emerged from an impressive pool of 1,490 Fintechs drawn from 64 countries in and beyond Africa; the Grand Finale will take place on 6 October at the Ecobank Group Pan African Centre (www.Ecobank.com) in Lomé, Togo; all finalists will be admitted into the Ecobank Fintech Fellowship Programme; the overall winner of the Ecobank Fintech Challenge will receive a cash prize of US$50,000, in addition to being admitted into the Fellowship Programme.

Over 1,400 Fintech startups from 64 countries across Africa and beyond applied for this year’s Ecobank Fintech Challenge with eight of them making the cut to the final where they will compete for the ultimate prize. This is the sixth edition of this international competition, with the highest number of applications on record.

Ecobank Group, Africa’s leading pan-African banking group, said this year’s applications had more than doubled compared to last year’s 703 applications received from 59 countries. In 2022 Nigeria’s fintech startup, ‘Touch and Pay’, wowed the jury with their ‘Cowry App’ to win the top prize of US$50,000.

The eight finalists who emerged from the fiercely competitive pool will compete for the coveted top prize of US$50,000 at the Grand Finale, which is scheduled to take place at the Ecobank Pan African Centre in Lomé, Togo, on 6 October 2023.

The 2023 Ecobank Fintech Challenge finalists in alphabetical order are:

  • Flexpay Technologies (Kenya) – FlexPay offers customers a merchant-embedded saving-based purchase experience called Save Now, Buy Later.
  • IPOXCap AI (South Africa) – FinanceGPT is a financial analysis platform for frontier markets. It processes structured and unstructured financial data to generate actionable insights, using advanced algorithms for financial forecasting, health monitoring and valuation.
  • Kastelo (South Africa) – Provides a democratised solution through diversified products, focusing on transaction, savings and forex offerings, aimed at banking the underbanked in emerging markets through client-centric solutions.
  • Koree (Cameroon) – Koree is a card wallet application that addresses sub-Saharan Francophone Africa spare change scarcity by digitising cash merchant payments, while empowering millions of African consumers through an incentive reward system.
  • Kori Tech (Senegal) – Koripass is an E-wallet linked to physical payment accessories such as
    bracelets, stickers and keychains. It enables quick and easy merchant payments
    using NFC and QR Code technology. No internet or smartphone required.
  • Smart Teller Technologies Limited (Nigeria) – Empowering cooperative digital banking, IT services, and online bill payments for seamless services.
  • Rubyx (Belgium and Senegal) – Rubyx enables digital lending solutions for service providers in emerging markets to bridge the financing gap that faces informal entrepreneurs and small businesses to fund their activities.
  • Wolf Technologies (Democratic Republic of Congo) – Makuta is a state-of-the-art application that provides a simple, convenient and secure electronic money transfer and payment experience.

Ecobank Group Chief Executive Officer, Jeremy Awori, who will be hosting the Fintech Challenge final for the first time said: “We are encouraged by the very high number of applications received for the sixth edition of our Ecobank Fintech Challenge. The significant increase in the number of participants reflects the growing impact of our investments in the fintech space, and on our operations and fintech initiatives across Africa. The finalists went through a rigorous process, and we look forward to the pitches of the eight competitors vying for the top prize and ultimately partnering with the Ecobank Group.”

On his part, Dr. Tomisin Fashina, Ecobank Group Executive, Operations and Technology, congratulated the eight finalists of the 2023 Ecobank Fintech Challenge and said, “We are proud to support the development of fintechs to drive digital banking transformation across Africa and beyond. The ever-increasing level of participation – from just 412 applications in 2018 to 1,490 submissions this year – reflects the richness of the untapped innovation and talent that exists across our continent.”

As in previous editions, all the finalists in the 6th edition will be inducted into the Ecobank Fintech Fellowship Programme which offers:

  • Product roll-out on a pan-African scale: Providing the opportunity to explore product and business integration with Ecobank and potentially launch products or services in all or part of Ecobank’s 35-country pan-African ecosystem.
  • Access to Ecobank’s pan-African Banking Sandbox: Opportunity to test and develop products in the pan-African market.
  • Priority access to Ecobank’s venture capital partners: Opportunity for access to funding.

The Ecobank Fintech Challenge recognises and promotes groundbreaking African fintech start-ups. The initiative is consistent with Ecobank’s Fintech strategy of building partnerships with African fintechs to help transform digital finance and banking.

The 2023 edition of the Ecobank Fintech Challenge is co-sponsored by Huawei, Arise Invest, Asky Airlines and Proparco, and supported by ALX Africa, , ABAN Angels, Africa Fintech Network, MEST Africa, Bluespace, Naija Startups, Jeune Afrique, TechCabal and Konfidants.

For more information on the competition, please visit https://EcobankFintechChallenge.com.

Distributed by APO Group on behalf of Ecobank Transnational Incorporated.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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