The partnership between Absa and the Meltwater Entrepreneurial School of Technology (MEST Africa) is expected to play a significant role in driving innovation and entrepreneurship across the continent. Through the MEST Africa Challenge 2025, the two organisations are working together to identify, support and invest in tech-driven startups that are solving critical challenges through scalable, local solutions.
Absa, as the exclusive sponsor of this year’s challenge, is aligning the initiative with its broader digital transformation strategy and commitment to inclusive finance. The bank sees innovation and entrepreneurship as central to the continent’s long-term growth and recognises the need to support visionary founders with the tools, networks and capital to help them build resilient, impactful businesses. MEST Africa, which has trained over 2,000 entrepreneurs and invested in nearly 100 startups since its founding in 2008, brings deep experience in nurturing early-stage companies and building strong innovation pipelines.
“Africa’s future will be shaped by bold ideas, local ingenuity and scalable innovation. At Absa, we recognise the critical role entrepreneurs play in driving inclusive economic growth. This partnership with MEST reflects our commitment to backing those visionaries and shaping the future of financial services. It complements our digital transformation strategy and reflects our purpose of empowering Africa’s tomorrow, together, one story at a time,” said Omar Baig, Managing Executive for Absa Regional Operations (ARO) Retail and Business Banking.
This year’s challenge is focused on fintech and adjacent value chains, with a goal to support startups that are helping to expand access to financial services and build smarter, more connected ecosystems. The competition targets businesses operating in eight key markets where Absa has a regional presence. These include Botswana, Uganda, Mauritius, Seychelles, Kenya, Mozambique, Zambia and Ghana. The application window opened on the 4th of August and will run until 26 September.
Startups that meet the eligibility criteria are encouraged to apply. To qualify, applicants must be early to growth-stage companies that have been operating for less than three years. They should have a monthly recurring revenue of at least US $5,000 and a history of consistent revenue for at least six months. Additionally, the startups must have raised less than US $1 million in cumulative funding and be registered either as a Delaware C-corp or in a neutral jurisdiction. Each team must have at least two co-founders or founding team members and must be able to present their pitch in English.
Once applications close, 20 semi-finalists will be selected and later narrowed down to 10 finalists who will be invited to pitch at the grand finale in November. The winning startup will receive a US $50,000 seed equity investment to support scaling and expansion. In addition to funding, the programme offers mentorship, strategic business support and access to a broader network of stakeholders in the tech and finance sectors.
The sector focus reflects both organisations’ priorities. Absa is looking to advance solutions that improve credit access, combat financial fraud, simplify payments, support investment and promote financial literacy. There is also an interest in platforms that enable trade, deliver value-added services, enhance customer experience and explore cross-sector applications such as agri-tech and insurtech.
MEST Africa views the challenge as a gateway for startups to enter new markets, validate their ideas and connect with potential investors and partners. The partnership with Absa brings added strength, enabling the selected founders to tap into corporate knowledge, operational expertise and a continent-wide network. This model is designed not only to support individual companies but also to contribute to building a more robust entrepreneurial ecosystem in Africa.
For Absa, the initiative supports its goal of becoming a digitally enabled financial institution that uses technology to create simpler, faster and more inclusive services. The collaboration with MEST is a strategic investment in future talent and innovation capacity across Africa and a step toward accelerating the deployment of solutions that can serve a wider customer base.
The MEST Africa Challenge 2025 presents a unique opportunity for founders to gain visibility and momentum in a competitive market. It reflects a growing shift across Africa towards stronger private-sector support for startups, especially in high-growth sectors like fintech. With structured mentorship, funding and opportunities to pilot real-world solutions, the programme is expected to deliver long-term value both for the participating entrepreneurs and the broader economies in which they operate.
By combining resources and strategic direction, Absa and MEST Africa are helping build a more inclusive and dynamic innovation landscape across the continent. Their partnership demonstrates how corporate institutions and entrepreneurial hubs can work together to unlock potential and drive meaningful change at scale.
