Cape Town: The Meltwater Entrepreneurial School of Technology (MEST Africa) has announced the launch of the MEST Africa Challenge 2025, targeting FinTech startups across the continent. This initiative is in collaboration with Absa and aims to spotlight innovative founders who are transforming how money is moved, managed, and insured in Africa.
According to African Press Organization, applications for this year's challenge are open from July 30 to September 26, 2025. Following the application period, 20 semi-finalists and 10 grand-finalists will be selected. The winner will receive a US $50,000 equity investment and the chance to scale their operations through partnerships with strategic stakeholders.
Ashwin Ravichandran, Portfolio Advisor and MAC Lead at MEST Africa, emphasized the challenge's role in providing a platform for Africa's most ambitious ideas. The collaboration with Absa is set to empower these startups by connecting them to essential resources and networks that can help them grow into influential businesses.
MEST Africa, with a history of investing US $30 million in over 90 startups and supporting 2,000 entrepreneurs, continues to be a prominent player in early-stage tech investment in Africa. The 2025 challenge aligns with Absa's digital-finance strategy, enhancing the competition's impact.
Eligible startups should be early-stage FinTech companies or offer high-value, value-chain solutions. They must operate in at least one of Absa's priority markets, including Botswana, Uganda, Mauritius, Seychelles, Kenya, Mozambique, Zambia, and Ghana. Companies should be no older than three years, have a minimum monthly recurring revenue of US $5,000, and have raised no more than US $1 million. Each startup should have at least two co-founders, and while not mandatory, Delaware registration is advantageous.
Applications can be submitted online, accompanied by a three-minute video pitch. The semi-finals will be held virtually in late October, culminating in the Grand Finale in Cape Town in late November.
