In a resounding victory for fintech innovation, Daba Finance has emerged as the winner of the prestigious 7th Ecobank Fintech Challenge, held on Friday, September 27, in Lomé, Togo. The Cameroonian startup, founded by Boum III Junior in 2021, was chosen from a pool of 12 finalists, impressing a panel of judges with its mission to democratize investment across Africa. Daba Finance’s pitch showcased a platform designed to make investing in the continent’s private and public companies more accessible to individuals and institutions alike.
The Rise of Daba Finance
Since its inception, Daba Finance has positioned itself as a key player in Africa’s growing fintech landscape, offering a seamless way for users to invest in a variety of asset classes. The startup’s innovative approach to capital markets addresses a critical challenge on the continent: the gap between available capital and high-quality investment opportunities. With a focus on financial inclusivity, Daba enables investors at all levels to access curated strategies, helping both businesses and individuals build wealth through African markets.
Speaking after the competition, Boum III Junior, co-founder and CEO of Daba Finance, reflected on the achievement, saying, “This win is a testament to the potential of African fintech to change the investment landscape, making it easier for everyone to access opportunities that were once out of reach.” The company’s vision is rooted in the belief that unlocking Africa’s capital markets can significantly contribute to economic growth across the continent.
A Tough Competition and Well-deserved Recognition
The Ecobank Fintech Challenge, now in its seventh year, continues to be a key platform for fostering innovation in Africa’s financial services sector. The competition attracts fintech startups from across the continent and beyond, offering participants the opportunity to showcase groundbreaking solutions with the potential to transform the digital financial ecosystem.
This year, Daba Finance stood out with its technology-driven investment platform, which facilitates capital raising for businesses of all sizes and sectors. The startup’s vision of democratizing investment and making Africa’s capital markets more accessible struck a chord with the jury. Judges praised the platform’s ability to solve real-world problems, particularly its focus on bridging the investment gap in African markets.
The panel of five judges, consisting of financial experts and fintech industry veterans, posed rigorous questions during the five-minute pitch session, followed by a Q&A. Daba Finance’s detailed responses and the platform’s scalability ultimately secured the win, setting the stage for the startup’s continued growth in Africa’s fintech sector.
The Prize and Future Opportunities
As the winner of the challenge, Daba Finance took home the grand prize of $50,000, alongside several other key benefits. One of the most significant opportunities includes a pan-African product rollout, with the chance to integrate its platform into Ecobank’s extensive network, which spans 35 African countries. This integration could vastly expand Daba’s user base, offering the startup a direct path to scale its operations across the continent.
Additionally, Daba Finance will gain access to Ecobank’s sandbox, allowing it to test and refine its products in real-world market conditions using the bank’s APIs. This environment will provide invaluable insights as the company continues to develop its platform. Furthermore, Daba will also be introduced to Ecobank’s venture capital partners, opening doors to future investment opportunities that could accelerate its growth.
Jeremy Awori, CEO of Ecobank Group, highlighted the importance of the competition, noting that the Fintech Challenge has consistently played a pivotal role in identifying and nurturing top fintech talent across Africa.
With this victory, Daba Finance cements its role as a key player in the ongoing transformation of Africa’s financial services. The startup’s platform not only offers access to investment opportunities but also serves as a critical tool for economic empowerment, enabling individuals and institutions to participate in the continent’s rapidly evolving financial markets.
As Africa’s fintech ecosystem continues to mature, Daba’s success in the Ecobank Fintech Challenge highlights the potential for homegrown startups to lead the charge in solving some of the continent’s most pressing financial challenges. With its mission to democratize investment, Daba Finance is well on its way to achieving its goal of becoming the go-to platform for African investors and businesses alike.
Looking ahead, the company plans to leverage its victory to expand its offerings and reach more users across Africa. Boum III Junior’s vision of a more accessible, equitable financial landscape for all may soon become a reality, thanks to the momentum generated by this significant win.
As Africa’s fintech revolution continues, Daba Finance’s journey serves as a reminder that innovation, when harnessed with purpose, can unlock vast potential — both for individuals and for entire economies.