The grand conclusion of the fifth edition of Wema Bank’s premier youth and startup-focused tech competition, Hackaholics, has been revealed. Wema Bank is Nigeria’s most innovative financial institution and the forerunner of Africa’s first totally digital bank, ALAT.
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Wema Hackaholics is a ground-breaking program that was started in 2019 with the goal of empowering Nigerian kids to be creative and enterprising by giving them a platform to realize their tech-driven ideas. On November 27, 2024, Hackaholics 5.0 will have its much-anticipated grand finale with the topic “Meta Idea: Capitalizing Africa’s Growth Through Innovation.”
By utilizing the continent’s economic potential through innovation and digital transformation, this year’s theme seeks to demonstrate how tech-driven solutions can support Africa’s development. The nation’s top innovators from tech communities and colleges will come together for the grand finale.
These entrepreneurs will present their Digi-Tech solutions that address pressing issues and advance the social and economic development of Africa. The event is expected to be the result of months of intense competition, teamwork, and mentoring, giving young people’s tech ideas a chance to grow. Moruf Oseni, MD/CEO of Wema Bank, outlined the bank’s aim for Hackaholics and announced the date of the grand finale.
Hackaholics is a movement that aims to give Nigerian youth the tools, connections, and resources they need to spearhead Africa’s digital revolution. It is more than just a competition. This year’s Meta Idea topic is an exhortation to young innovators to look beyond the here and now and create solutions that would leverage Africa’s development. We look forward to seeing how our participants imagine and create the Africa of the future.
“At the grand finale, participants will compete for exciting cash prizes, grants, and access to Wema Bank’s extensive network of investors, mentors, and industry experts,” the MD/CEO added in reference to the rewards.
This year’s rewards are valued at ₦75,000,000. Prizes totaling ₦30,000,000 will be awarded to the winning team, ₦20,000,000 to the first runner-up, and ₦15,000,000 to the second runner-up. In order to promote gender diversity in tech innovation, we will also give the female-led team a special grant of ₦10,000,000 in prizes.
He came to a conclusion. Wema Bank’s dedication to using innovation and entrepreneurship to shape Africa’s future is demonstrated by its Hackaholics initiative. Over 10,000 aspiring tech innovators and entrepreneurs from all over Nigeria have participated in Hackaholics 5.0, which started with a statewide call for entries earlier this year. 34 innovators from all places will present their ideas at the pre-pitch stage prior to the grand finale, which is planned to take place in Lagos, after 2,297 applications were received from 8 physical pitch centers and 1 virtual pitch center.
Wema Bank has given young people a forum through Hackaholics to transform their inventiveness and spirit of entrepreneurship into practical technological solutions that tackle Africa’s most urgent problems. With an impact on thousands of young minds, Hackaholics has developed into one of Nigeria’s biggest and most significant tech competitions throughout the years.
In addition to grants and monetary awards, the competition gives winners access to industry networks, mentors, and tools to assist them expand their discoveries internationally. This program is a crucial component of Wema Bank’s larger plan to use technology to propel socioeconomic development in Africa.
Interested parties can sign up at https://hackaholics.wemabank.com/grandfinale to attend the grand finale.
