Pan-African challenge opens for fintech entrepreneurs

Applications have opened for the seventh edition of the Mest EST Africa Challenge (MAC 2025), a startup pitch competition focused this year on financial technology. The initiative, led by the Meltwater Entrepreneurial School of Technology (Mest Africa) in partnership with Absa, aims to support early-stage fintech startups across the continent.

4 Aug 2025

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Startups have until 26 September 2025 to apply. Twenty semi-finalists will be selected for virtual pitch rounds, with ten finalists invited to compete in person at the Grand Finale in Cape Town in November. The winner will receive a $50,000 equity investment and the opportunity to pilot their solution with strategic partners.

Focus on FinTech innovation in Africa

This year’s challenge highlights startups that are reshaping how money is moved, insured or managed on the continent. Eligible startups must be no older than three years, with a minimum recurring monthly revenue of $5,000 and total funding raised under $1m.

Operations must be active in at least one of Absa’s key markets: Botswana, Uganda, Mauritius, Seychelles, Kenya, Mozambique, Zambia, or Ghana.

Applications must include a three-minute pitch video and can be submitted via Mest's online portal.

Strategic partnership with Absa

Backed by Mest's experience investing in over 90 African startups, the 2025 challenge is supported by Absa to align with its broader digital finance strategy.

Both organisations say the initiative is intended to deepen innovation ecosystems and connect startups with capital, mentorship, and product testing opportunities.

“This partnership is about connecting with startups that can drive meaningful digital transformation,” said Muhammad Ali Bhikhan, chief information officer at Absa Regional Operations.

The competition forms part of Mest and Absa’s shared goal to support inclusive growth and fintech development across Africa’s emerging markets.