MEST Africa Launches 7th FinTech-Focused Pitch Competition with $50,000 Prize

The Meltwater Entrepreneurial School of Technology (MEST Africa) has officially opened applications for the 7th edition of its prestigious MEST Africa Challenge (MAC 2025), a continent-wide pitch competition designed to empower Africa’s most promising startups. This year’s edition uniquely spotlights FinTech ventures that are reshaping the landscape of financial services by innovating how money is moved, managed, and insured across Africa’s rapidly evolving economies.

Expanding Africa’s FinTech Ecosystem with Strategic Support

MEST Africa, a leading early-stage tech investor and incubator with over US $30 million invested in more than 90 startups and 2,000 entrepreneurs since its inception, is dedicated to scaling Africa’s entrepreneurial ecosystem. The MAC 2025 challenge builds on this legacy by zeroing in on startups developing high-impact financial technology solutions.

Applications for MAC 2025 will be accepted from July 30th through September 26th, 2025. Following the application period, a rigorous selection process will identify 20 semi-finalists, who will compete virtually in late October. From there, the 10 grand-finalists will advance to the highly anticipated live Grand Finale event scheduled for late November in Cape Town, South Africa. The overall winner will receive a US $50,000 equity investment alongside the unique opportunity to pilot their solution at scale with leading strategic partners.

Partnership with Absa Elevates Competition Impact

This year, the competition is further strengthened by a strategic partnership with Absa Group Limited, one of Africa’s foremost banking institutions. Absa’s involvement aligns MAC 2025 closely with its own digital finance transformation priorities, positioning the competition as a powerful catalyst for innovations that promote inclusive economic growth and broaden financial access across the continent.

Ashwin Ravichandran, Portfolio Advisor and MAC Lead at MEST Africa, emphasized the synergy: “The MEST Africa Challenge is where Africa’s boldest ideas find the opportunity to scale. Our partnership with Absa gives these visionary founders the lift they need—connecting them to the capital, expertise, and networks that turn promising startups into sector-defining businesses.”

Omar Baig, Managing Executive of Absa’s Africa Regional Operations Retail and Business Banking division, echoed this sentiment: “Africa’s future will be shaped by bold ideas, local ingenuity, and scalable innovation. This partnership with MEST reflects our commitment to backing those visionaries and shaping the future of financial services.”

Criteria and Eligibility: Who Should Apply?

MAC 2025 invites early-stage startups from the FinTech sector and other high-value value-chain solutions. Eligible companies must be operational in at least one of Absa’s priority markets, including Botswana, Uganda, Mauritius, Seychelles, Kenya, Mozambique, Zambia, and Ghana. To qualify, startups must:

• Be three years old or younger

• Demonstrate a minimum monthly recurring revenue of US $5,000

• Have raised no more than US $1 million in funding to date

• Have at least two co-founders actively involved

• Be able to present pitches in English

While registration in Delaware is not mandatory, it is considered an advantage in the selection process.

Application and Competition Timeline

Prospective participants can apply by submitting an online application form, which includes a three-minute video pitch, at https://apo-opa.co/40P2V41 starting July 31, 2025. The selection committee will review submissions and announce the 20 semi-finalists who will compete in virtual pitch sessions in late October.

The top 10 finalists will then gather in Cape Town for the grand live pitch event in late November, where they will have the chance to present their business to a panel of expert judges drawn from the investment, tech, and financial sectors. The winner will be awarded the US $50,000 equity investment and receive mentorship and partnership opportunities designed to accelerate growth and market entry.

Driving Pan-African Innovation and Inclusive Growth

Muhammad Ali Bhikhan, Managing Executive and Chief Information Officer at Absa Regional Operations, highlighted the strategic importance of this collaboration: “Our partnership with MEST is a strategic step toward unlocking innovation that truly matters. It allows us to connect with visionary startups, build a strong talent pipeline, and collaborate on solutions that can drive meaningful digital transformation and long-term impact across the continent.”

The MAC 2025 edition offers startups not only financial investment but also access to a robust network of mentors, potential customers, and partners, including Absa’s extensive footprint across Africa. By targeting FinTech—a sector pivotal to economic inclusion—MEST and Absa aim to empower startups that are expanding access to financial services, enhancing digital payments, improving insurance accessibility, and ultimately fostering economic empowerment.

About MEST Africa

Since its launch, MEST Africa has become one of the continent’s most active early-stage investors and entrepreneurial training programs, committed to nurturing innovative African founders who are driving technology-led growth across diverse sectors. The annual MEST Africa Challenge has grown into a key platform for discovering and supporting some of the continent’s most promising startups.

With MAC 2025, MEST Africa and Absa invite visionary FinTech entrepreneurs across the continent to seize this opportunity to scale their businesses, connect with industry leaders, and transform the future of financial services in Africa. Interested founders are encouraged to apply promptly as the application window opens on July 30th, 2025.