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Koree Emerges First Female-led Fintech to Win Ecobank Fintech Challenge

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Cameroon’s Koree has emerged as the winner of the 2023 Ecobank Fintech Challenge, marking a historic moment as the competition’s first-ever female-led fintech champion.

The 2023 edition of the Ecobank Fintech Challenge witnessed participation from over 1,400 fintechs spanning 64 countries, underscoring the competition’s growing popularity and global reach. Koree’s victory came after facing stiff competition from seven other finalists, including Flexpay Technologies (Kenya), IPOXcap AI (South Africa), Kastelo (South Africa), Kori Tech (Senegal), Smart Teller Technologies (Nigeria), Rubyx (Belgium), and Wolf Technologies (DRC).

The announcement of Koree’s triumph was made during the Grand Finale at Ecobank Group’s headquarters in Lomé, Togo. It celebrated Koree’s outstanding card wallet payment solution, which digitizes merchant payments and secured the top prize of $50,000. This victory underscores the abundance of innovation and creativity thriving within the African fintech landscape.

 
 
Magalie Gauze-Sanga, CEO of Koree, receiving $50,000 prize money

Koree’s win earned the company a significant cash prize of $50,000. Furthermore, the first runner-up, Wolf Technologies, received $10,000, while the second runner-up, Flexpay Technologies, was awarded $5,000. Beyond the monetary rewards, all eight finalists, including Koree, were granted entry into the prestigious Ecobank Fintech Fellowship.

This exclusive program provides fintech companies with a priceless opportunity to explore potential commercial partnerships with Ecobank, including seamless integration with the bank’s platforms and the potential to scale up their fintech ventures across Ecobank’s 35 African markets.

Jeremy Awori, CEO of Ecobank Group, expressed his excitement about collaborating with the winning fintech and underscored the importance of forging sustainable partnerships in delivering convenient and affordable services to customers. Notably, Koree’s victory holds broader significance, symbolizing a triumph for innovation and diversity within the fintech landscape.

Magalie Gauze-Sanga, CEO of Koree, emphasized the impact of the win, stating, “We’re excited to collaborate with Ecobank Group across its extensive footprint to further transform the financial landscape in Africa by digitizing cash-based payments. Simultaneously, we aim to empower millions of consumers and bring value to local brands and retailers.”

The Ecobank Fintech Challenge serves as a testament to the remarkable talent within the fintech industry and reflects the collaborative spirit fostered by various partners. Sponsors such as Huawei, Asky Airlines, Arise, Proparco, and others have played a pivotal role in supporting this innovative initiative, contributing to the growth and success of fintech ecosystems across Africa.

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