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Two of Sierra Leone’s leading fintech innovators have made their mark by advancing to the semi-finals in the prestigious EcoBank International Fintech Challenge 2024. They are among 40 fintech companies from across Africa that reached this critical stage of the competition.
However, despite their impressive achievements, the two Sierra Leonean innovators did not advance to the final round, which will take place in September in Togo. The announcement of the finalists was made on Wednesday, August 14, 2024, during a live-streamed event in Nigeria.
Engineer Sorieba Daffae, Esq., CEO of ‘Monime,’ is one of the semi-finalists. Daffae developed an application that allows users to collect payments from any mobile money platform, a significant innovation in the rapidly growing fintech landscape.
The other semi-finalist is Salton Massally, CEO of ‘MiKashBoks’ who has revolutionized traditional savings by digitizing the process and connecting users with financial institutions through an app. “Mi Kashbox is a pathway to financial inclusion. We are transforming mobile phones into bank branches,” Massally explained.
Although they did not reach the final, both innovators remain optimistic and determined, emphasizing their commitment to resilience and continued innovation.
Winston Williams, Executive Director and Head of Corporate Banking at EcoBank Sierra Leone highlighted the importance of the EcoBank Fintech Challenge as a Pan-African initiative aimed at supporting startups with innovative solutions that address the needs of Africa and its diaspora.
According to Williams, the challenge seeks to identify fintech startups ready to scale by providing them with resources, funding, and partnerships across EcoBank’s 35 affiliate markets. By nurturing these fintech success stories, the challenge contributes to Africa’s financial integration and economic development.
“The challenge attracted 1,550 global applicants, with 40 semi-finalists selected to advance. Finalists stand to gain benefits such as multinational product rollout, partnerships, access to a Pan-African banking sandbox, and a $50,000 prize for the winner,” Williams revealed.
Reflecting on the achievements of the Sierra Leonean semi-finalists, Williams expressed pride and optimism. “Seeing two of our own fintech startups advance to the semi-finals of the EcoBank Fintech Challenge fills me with immense pride. This accomplishment speaks volumes about the incredible talent and ingenuity present here in Sierra Leone,” he said.
Williams assured the semi-finalists of EcoBank’s continued support, stating, “Your journey so far is a shining example of what determination, innovation, and collaboration can achieve. We believe in you and are ready to support you every step of the way throughout the Fintech Challenge.”
He concluded by reaffirming EcoBank’s commitment to driving financial inclusion and fostering innovation across Africa, emphasizing that the journey is not just about competition, but about transforming lives and economies across the continent.
