MEST Africa Challenge 2025: $50,000 equity prize for FinTech innovators
Early-stage African startups building fintech or fintech-enabled solutions are invited to apply for the seventh edition of the MEST Africa Challenge 2025 (MAC). This initiative is powered by Absa and organised by MEST Africa. Eligible startups operating in any of Absa’s priority markets stand a chance to win $50,000 in equity, secure investor exposure and pitch during the grand finale in Cape Town, South Africa.
Since 2018, MEST Africa Challenge has helped launch high-impact ventures across fintech, agritech, and edtech turning early-stage ideas into investable businesses.
Throughout its six previous editions, the competition has accelerated the growth of numerous high-impact ventures and fostered a thriving network of innovators. They aim to replicate this success in the MEST Africa Challenge 2025.
In 2022, Absa joined as a headline partner, a partnership that brought greater strategic interest, audience reach, and financial infrastructure to the contest. Since then, the collaboration between MEST Africa and Absa has shaped MAC’s identity as a gateway for fintech entrepreneurs seeking seed investment and market expansion.
Past winners
Since its inception, the MEST Africa Challenge has highlighted high-potential startups that are driving innovation across the continent. Each winner receives $50,000 in equity funding along with access to MEST’s extensive support network.
In 2024, Ghana’s SAYeTECH won the challenge with its mechanised threshers designed to assist smallholder farmers. The 2023 winner was South Africa’s Koa Academy, a virtual learning platform specifically tailored for African students in grades 4 to 12.
In 2022, the prize went to Senegal-based Kwely for its B2B platform that helps African brands reach global markets. Earlier editions featured notable ventures such as Kilimo Fresh from Tanzania, which connects farmers to hotels and export markets. Finalists like Accounteer from Nigeria, OZE from Ghana, and Waya Waya from Kenya have also gained significant traction through this challenge.
Who can apply
Early-stage technology startups are eligible to apply for the Mest Africa Challenge 2025 if they meet all of these criteria:
- Operate in one of Absa’s priority markets: Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Uganda, or Zambia
- Earn at least $5,000 in monthly recurring revenue (over the past 6 months)
- Be less than three years old
- Have raised no more than $1M in total equity funding
- Have at least two full-time team members
- Offer fintech or embedded fintech products (e.g., smart credit, wallets, agritech finance)
- (Optional) Be registered as a Delaware C-Corp
Benefits
Selected finalists in the MEST Africa Challenge 2025 will receive:
- US$50,000 equity investment awarded to the grand prize winner
- Regional visibility through Demo Day exposure and media coverage
- Networking opportunities within MEST Africa and Absa-sponsored ecosystems
- Mentorship support, connections, and follow-up access to MEST’s founder community
Key dates to remember
- Applications for the MEST Africa Challenge 2025 officially opened on Monday, August 4, 2025
- Application closes on Friday, September 26, 2025
- Shortlisted applicants will be notified by Friday, October 10, 2025
- The virtual semi-finals scheduled for the week of Monday, October 27, 2025
- The grand finale is set for the week of Monday, November 24, 2025, in Cape Town, South Africa.
How to apply
The MEST Africa Challenge 2025 competition begins with an online application, which requires basic company information, traction metrics, and a three-minute video pitch outlining the startup’s solution, market opportunity, and team.
Out of all the submissions, the top 20 startups are chosen to participate in a virtual semi-final round. From this group, 10 outstanding startups will advance to the grand finale, where they will pitch live at Demo Day in Cape Town, South Africa. At this final stage, one winner will receive a $50,000 equity prize, while all finalists will benefit from valuable exposure, investor interest, and connections within the ecosystem.
Do you have an innovative business (small, mid-scale business or startup) that adds value, creates opportunities or solves bold problems? Then you`ve got a story worth telling? Shoot us an email with SUBJECT “Story Worth Telling (+Name of Business)” to [email protected]
