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Ghanaian tech company wins Ecobank ‘Fintech Challenge’
Ecobank Group has announced the winners of its Ecobank Fintech Challenge after an exciting virtual event streamed live in Accra. ‘Nokwary Technologies’, edged out the rest of the finalists to emerge winner of the competition.
The first and second runner up spots were taken by Ukheshe Payment, and Solutions Growth Factor Technologies respectively. The first to third place winners would receive cash prizes worth US$10,0000, $7,000 and US$5,000 respectively.
Nokwary, from Ghana, is a fintech that uses Artificial Intelligence (AI) to promote financial inclusion. Its AI Powered banking solution offers an opportunity for users to carry out transactions in a language to which they are familiar with through popular social media channels like Whatsapp.
South Africa based Ukheshe, which came second, provides a bridge between the card and the cash economy. It has created the world’s first card acceptance platform that allows unbanked merchants and traders to accept and make digital payments.
In third place, Growth Factor is a fintech company that provides trade financing solutions designed for Micro-Small and Medium Entities in order to encourage financial inclusion and growth.
Its ‘Nvoicia’ solution solves cash flow issues caused by delayed payments for SMEs, by enabling them to get paid in 24hrs when dealing with credit clients.
Ade Ayeyemi, Ecobank Group CEO, congratulated the winners on their innovation and welcomed all the 2020 Fellows.
“The quality of the products and pitches we saw in the final this year were amazing. Clearly it is evident that Banking in Africa is moving onto a new dimension with these Fintechs leading the way.
“That is why we are so proud to have had them in this year’s competition and are excited to engage further with them over the next year. It is our expectation that we will build a few lasting partnerships which will help improve the lives of Africans all over the continent,” he said.
Dennis Asamoah Owusu, CEO and Co-founder of Nokwary Technologies was excited about his victory.
“Our company is rather young and to be recognised like this on such a stage was really exciting as well as a validation for our focus on creating inclusive technology right from the start.
“It is also very encouraging to note that a major bank like Ecobank places such a premium on inclusion and is willing to back and promote innovative and cutting-edge technologies towards that purpose,” he said.
He added that the company would work together with Ecobank to bring an ‘AI-first digital banking platform’ over WhatsApp, as well as other innovative solutions to Ecobank’s customers.
This year’s finalists made it through an extremely competitive pool of over 600 applicants across Africa, Europe, North America and Asia.
All 10 finalists have officially been inducted into the Ecobank Fintech Fellowship, a one-year programme which will give them the opportunity to explore opportunities for commercial partnerships with the Ecobank Group.
Ghana has made progress in the way it manages public resources and delivers services to citizens, with improvements in financial management and access to education and healthcare helping to raise its governance score.
The country ranked 92nd out of 133 countries worldwide and ninth in Africa in the 2026 Chandler Good Government Index (CGGI), according to a report released last Thursday.
The improvement offers a positive sign for Ghana, although the country still faces challenges in areas such as leadership, long-term planning and creating an attractive environment for businesses.
The index showed that Ghana’s performance in Financial Stewardship, which measures how governments manage public finances and maintain fiscal sustainability, almost doubled this year after declining between 2021 and 2024.
Its score in Helping People Rise, which looks at how government policies and services improve people’s lives, also increased for the second consecutive year, reflecting progress in areas including education and healthcare.
However, the country recorded declines in Leadership and Foresight and Attractive Marketplace, indicating areas where further attention may be needed.
Ghana’s performance comes at a time when several African countries are also making progress in governance. The report found that 71 per cent of African countries assessed in both 2025 and 2026 improved their overall scores.
Dinesh Naidu, Director of Knowledge at Chandler Governance Group, said the continent’s strongest gains were in financial management, followed by efforts to improve citizens’ lives.
He said the progress suggested that improvements in government capabilities were beginning to translate into tangible benefits, including better access to education and healthcare.
However, Africa continues to face significant challenges. Although average scores improved in six of the index’s seven pillars over the past year, the region’s overall average remains below its 2021 level.
The report also found that 23 of the 35 African countries assessed ranked outside the global top 100, while none made it into the top 50.
Globally, 61 per cent of the 120 countries assessed in both 2025 and 2026 recorded higher scores, representing the highest annual share of countries improving since the index began in 2021.
The Chandler Good Government Index assesses government capabilities and effectiveness across 133 countries, representing 94 per cent of the world’s population.
It uses 35 indicators grouped under seven pillars to help governments identify their strengths, recognise gaps and learn from the experiences of other countries.
Mr Naidu said rankings should not be treated as an end in themselves but as a guide to identifying areas that need improvement.
He said sustained progress depended on strong institutions, responsible use of public resources and the ability of governments to turn policies into meaningful outcomes for citizens.
For Ghana, the latest results point to progress in some important areas, while highlighting the need to strengthen other aspects of governance to ensure that improvements are felt in the daily lives of ordinary people.
By Esinam Jemima Kuatsinu
President John Mahama has arrived in Moscow, Russia, from Ethiopia to participate in the 3rd Russia-Africa Summit.
The summit is being hosted by Russian President Vladimir Putin.
During the visit, President Mahama will join fellow African leaders at the Economic and Humanitarian Forum and summit plenary sessions.
He is also scheduled to hold high-level bilateral talks with President Putin and attend a Kente exhibition organised by the Russia-Ghana Parliamentary Forum.
As part of the visit, the President will receive honorary doctorate degrees from the Russian University of Transport and the Peoples’ Friendship University of Russia.
He will also engage Russian businesses and state institutions to advance bilateral cooperation between Ghana and Russia.
By Edem Mensah-Tsotorme
