Wema Bank Awards N300 Million to 11 Winners in Tech Innovation Contest

Wema Bank has awarded N300 million to 11 winning teams at the seventh edition of its Hackaholics innovation program. This event, themed ‘Festival of the Future,’ took place recently in Lagos and aims to support technology-based solutions for economic and social issues.

The competition attracted over 5,300 participants, generating more than 1,600 ideas across seven locations in Nigeria, including Uyo, Kano, and Lagos. From these, 59 participants were selected, and 21 finalists were chosen to compete for prizes in four categories: Startup/Ideathon, Social Impact, Women-Led, and Hackathon.

The overall winner was Tony Nwose, who received a grand prize of N60 million for his agricultural technology solution that connects farmers with processors and markets. In the Startup/Ideathon category, Emmanuel Adeboje won N40 million for his education-focused innovation, while David Lawani took home N20 million for his platform that improves access to arbitration.

In the Social Impact category, Kabir Olaosebikan won N40 million for turning plastic waste into building materials. Samuel Shonubi and Oluwaseyi Akinlolu also received prizes for their technology solutions aimed at improving communication and mental wellness, respectively.

Zainab Boluwatife Adeagbo won N20 million in the Women-Led category for her digital healthcare solution, while Kelvin Nnadi received N30 million for his AI-powered medical diagnostic innovation in the Hackathon category.

Wema Bank’s Managing Director, Moruf Oseni, emphasized the bank’s commitment to supporting entrepreneurs and innovative ideas that can drive economic growth. He stated that the funding reflects their belief in the potential of young innovators to create impactful solutions.

Nwose expressed his excitement about the award, noting that it would help expand his agricultural technology solution and improve connections between African farmers and international buyers. Since its launch in 2019, Hackaholics has become a significant platform for nurturing entrepreneurial talent across Africa, with over 21,000 applicants in total.