Africa: Mest Targets Fintech Startups in 2025 Africa Challenge

19 August 2025
Daba Finance (Abidjan)

TLDR

  • The Meltwater Entrepreneurial School of Technology (MEST) has launched applications for the seventh edition of the MEST Africa Challenge, this year focused on fintech
  • MEST runs a pan-African software training programme, seed fund, and incubator that supports early-stage technology ventures
  • Its annual challenge, now in its seventh year, awards winners $50,000 in equity funding alongside mentorship, workspace, marketing support, and other resources to scale

The Meltwater Entrepreneurial School of Technology (MEST) has launched applications for the seventh edition of the MEST Africa Challenge, this year focused on fintech.

Founded in Ghana in 2008 by entrepreneur Jorn Lyseggen, MEST runs a pan-African software training programme, seed fund, and incubator that supports early-stage technology ventures. Its annual challenge, now in its seventh year, awards winners $50,000 in equity funding alongside mentorship, workspace, marketing support, and other resources to scale.

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For the second year running, the competition has a dedicated sector theme, targeting fintech startups building solutions in digital payments, financial inclusion, insurtech, and value chain financing. Eligible ventures come from Botswana, Uganda, Mauritius, Seychelles, Kenya, Mozambique, Zambia, South Africa, and Ghana.

Applications are currently open, with shortlisted startups expected to pitch later this year for the equity investment and support package.

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Key Takeaways

MEST's decision to spotlight fintech reflects broader trends in Africa's startup ecosystem. According to Partech's Africa Tech Venture Capital Report, fintech attracted over 40% of total funding raised by African startups in 2023, with payments, lending, and insurance platforms driving investor interest. The continent's unbanked population--estimated at 350 million adults by the World Bank--continues to create opportunities for solutions that extend financial services to underserved consumers and small businesses. By tying equity funding with structured incubation support, the MEST Africa Challenge positions itself as a launchpad for regional fintechs that can expand across borders. Beyond capital, startups gain access to networks of investors, corporate partners, and alumni who have successfully scaled ventures. For founders navigating fragmented markets, these connections are often as critical as funding in building sustainable fintech businesses.

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