By: Segun Lawal
Nala, Virtual Identity and Wallet.ng dazzle judging panel to be the three winners of the competition; All 11 finalists were officially inducted into the Ecobank Fintech Fellowship programme to explore commercial partnerships with the pan-African banking giant.
Winners of the 2018 Ecobank Fintech Challenge were announced at a ceremony held at Ecobank’s (Ecobank.com) headquarters in Lome, Togo on 30th August 2018.
Nala, from Tanzania, beat the ten other finalists to emerge as the overall winner of the competition. Virtual Identity from South Africa and Wallet.ng from Nigeria were the first and second runners up. They won cash prizes worth US$10,0000, $7,000 and US$5,000 respectively.
Nala, based in Tanzania, is a mobile money application that works offline, without an internet connection. Nala provides a unified user experience in which multiple financial services can be connected on one application. It can host multiple SIMs, enabing users to manage their spending and take control of their finances.
Second placed Virtual Identity is an innovative platform designed to disrupt traditional customer onboarding for banks. The process is fully digital, creating a virtual video conferencing link between the agent and the customer. Its easy to use web-based solution allows the client to complete tedious KYC processes from anywhere, making it both convenient and time saving.
The third placed prize winner, Wallet.ng, is a start-up providing an alternative bank for a growing generation of digital natives. Its core strength is building a banking platform that is as native to customers’ devices as Facebook and WhatsApp.
Ade Ayeyemi, Ecobank Group CEO praised the finalists for their innovative solutions and welcomed them to the Fellowship: “We are proud of the impressive start-ups that made it to our 2018 final. They are shining examples of the entrepreneurial spirit and creativity that will propel our continent’s global competitiveness in the commercial services markets, and I sincerely expect some, if not all, of them to be the business titans of tomorrow. They have my congratulations and we look forward to working closely with all eleven Fellows over the next year to deliver innovative banking services at better price-points that will improve the lives of Africans.”
This year’s Fintech Challenge was keenly contested with applications from over 412 innovative fintech entrepreneurs from across Africa, Europe, North America and Asia.
All eleven (11) finalists were inducted into the Ecobank Fintech Fellowship, a one-year business program where they can explore opportunities for commercial partnerships with the Ecobank Group, to launch and scale products across Ecobank’s 33 country markets in the continent.
Launched in 2017, the second year of the Ecobank Fintech Challenge brought together fintech start-ups and innovators, policy makers, investors and development organisations from across the world to network, witness the 2018 finalists’ exhibitions, and celebrate the induction of the finalists into the 2018 Ecobank Fintech Fellowship.
Also present at the finals was the Honourable Alhaji Dr. Ibrahim Awal Mohammed, Minister of Business Development of Ghana, who commended Ecobank for this initiative and urged more support for young African entrepreneurs to improve job creation on the continent.
The Ecobank Fintech Challenge and Fellowship is designed and managed by the advisory firm Konfidants and supported by FMO, Microsoft4Afrika, Accion Venture Labs, Cellulant and FinConecta. More information on the fellows, their innovations and the Innovation Fellowship can be found on the programme website at www.EcobankFinTech.com.
ADEDUNTAN, FIRSTBANK MD HEADLINES UNIVERSITY OF IBADAN (UI) MAIDEN GRADUATE CAREER FAIR
Nigeria’s premier financial Institution, First Bank of Nigeria Limited, has announced its sponsorship of the University of Ibadan (UI) Graduate Recruitment/Career fair which took place on Tuesday, 6 November 2018 at the University’s Conference Centre in Ibadan, Nigeria. The Graduate Recruitment/Career Fair is part of the activities lined up for the commemoration of the institution’s 70th Foundation Day Anniversary and 2018 Convocation Ceremonies.
The Career Fair was convened to promote the engagement between organisations, spanning diverse industries and exceptionally talent among the final year students of the University on career mentoring and ready for work tips. The Vice Chancellor of the University of Ibadan – Professor Abel Olayinka delivered the welcome address whilst the Managing Director of First Bank of Nigeria Limited, Dr Adesola Adeduntan who is an alumnus of the University gave the keynote lecture.
Other activities lined up for the event were the syndicate and coaching speed sessions. The Syndicate Session comprised four activities namely; Employability Skills, The Future of Work, Academic Pursuit – What and How? and Entrepreneurship/Startups. These sessions were driven to ensure the preparedness of the young graduates towards their career pursuit.
On the other hand, the Speed Coaching Session was used to share knowledge and solve problems quickly. There were experienced Human Resource professionals on ground to help the students in the areas of resume writing; aptitude test, assessment centres and interview preparation as well as searching for jobs.
According to the Group Head, Human Capital Management & Development, First Bank of Nigeria Limited, Rosie Ebe-Arthur, “the FirstBank-University of Ibadan Graduate Recruitment/Career Fair is a noble initiative we are pleased to identify with. Interestingly, this partnership is indeed a celebration of Firsts as the Graduate Recruitment/Career Fair is the first of its kind by the premier University and FirstBank, the premier Financial institution in the country. FirstBank’s participation in the event is indeed an avenue to identify young Nigerians with the right skillset that epitomises our vibrant and creative workforce.”
First Bank partners CFA Society for Ethics Challenge
First Bank of Nigeria Limited is partnering with CFA Society Nigeria for this year’s edition of its Ethics Challenge. The Ethics Challenge is a university outreach programme organised by CFA Society Nigeria for university students. It aims to promote the highest standards of ethics, education, and professional excellence in the investment industry. First Bank said in Lagos on Tuesday that the partnership aligned with the Corporate Responsibility and Sustainability strategic approach and the objective of the bank’s endowment programme – the Samuel Asabia Chair for Business Ethics at the University of Lagos
Mrs Folake Ani-Mumuney, its Group Head, Marketing and Corporate Communications, said the partnership would also showcase the bank’s support for education amongst youths and the drive for nation building.
Speaking on the event which would hold between Nov. 2 (Lagos and Abuja) and Nov. 3 (Lagos only), Ani-Mumuney said: “It is part of the bank’s ambition to raise the next generation of financial analysts who will operate under the appropriate guiding principles.
“This partnership is an improvement of last year’s edition of the programme. We realise the need to carry out adequate engagement with students as regards business ethics.
“That way, we will be shaping the future of the investment industry in Nigeria.
“With seven universities competing in the 2017 ethics challenge, CFA Society has set out to increase the impact of the 2018 version by expanding the number of participating universities from seven to twelve, including at least one West African university.’’
According to her, this year, the programme will run regional competitions in Abuja and Lagos before running a National Final in Lagos.
“Also, in line with its ‘Women in Investment Management Initiative’ and to encourage women inclusion, the CFA society has added a requirement that each team must be represented by an equal number of female and male students,’’ she said.
Ani-Mumuney said that she was optimistic that these two strategic improvements would position the competition to enable the bank make bigger impacts through the Ethics Challenge.
“Participating universities for the programme are Babcock University, Bowen University, Covenant University, Ekiti State University, Mountain Top University, Obafemi Awolowo University Ile-Ife, University of Benin and University of Calabar.
“Others are university of Ibadan as well as University of Lagos for the Lagos preliminary round, while the Abuja Based preliminary round will have University of Abuja, University of Maiduguri, University of Ilorin, University of Nigeria and Madonna University participating.
“The competition will take place in two rounds with the preliminary rounds taking place in Lagos and Abuja.
“Thereafter, two qualifiers from the Abuja region and four qualifiers from Lagos region will converge in Lagos for the grand finale,’’ she said.
UBA Receiving Entries For National Essay Competition
The UBA Foundation is now accepting entries for this year’s edition of the National Essay Competition. The first prize for the competition is a N2 million educational grant for the winner to study in any African university of his or her choice, a 100% increase from N1m which was awarded last year, while the second and third prizes have increased to N1.5 million and N1m educational grants respectively.
Applicants must be secondary school students, schooling in Nigeria and applications close on 2nd November, 2018.
Kindly use URL https://www.ubagroup.com/national-essay-competition
To apply, qualified candidates must:
1. Attach 1 passport photograph, a photocopy of their original birth certificate or a photocopy of international passport data page.
2. Submit their complete contact information (School Name and Address, Residential Address, Phone number and Email Address)
3. Send Handwritten entries (not more than 750 words) should be sent to:
UBA Foundation, UBA House, 57 Marina Street, Lagos Island, Lagos State.
Applications can also be sent to any UBA Branch in Nigeria
The educational grant is only applicable to students who intend to study in an African University.
LATE ENTRIES will not be accepted
Kindly use URL https://www.ubagroup.com/national-essay-competition
#National Essay Competition
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