On Friday, October 28, 2022, the 5th edition of Ecobank Fintech Challenge 2022 took place in Lomé. This time, Oluwole Michael from Nigeria, co-designer of the “Touch and Pay” solution, won.

The 5th edition of the Ecobank Fintech Challenge 2022 aims to promote African companies that are developing innovative digital technology in order to optimize a financial service. Indeed, Touch and Pay is a unique platform for payment and mobile services that captures online and online transactions and in a transparent manner.

For Togo's Minister of Digital Economy and Digital Transformation, Cina Lawson, this challenge is an opportunity for the country's start-ups. According to him, “The fact that a bank like Ecobank hosts this type of competition is useful and important because most of the start-up companies that have found funding on the continent are start-ups linked to fintech.” For his part, the managing director of the Ecobank Group, Ade Ayeyemi believes that “financial inclusion and transactions are essential for the development of the continent.”

It should be noted that the winner left with an envelope of 50,000 USD, approximately 32,575,000 CFA francs.