Wema Bank Invests N70 Million in Africa’s Youth with Tech Competition “Hackaholics 5.0”

Wema Bank, a leader in digital banking innovation, has announced a significant investment in Africa’s future with the launch of the 5th edition of their popular tech competition, Hackaholics 5.0.

With a total cash prize pool of over N70,000,000, Hackaholics 5.0 aims to empower young innovators across Africa to develop digital solutions that drive progress and prosperity for the continent.

Building on the success of previous editions, Hackaholics 5.0 expands its reach to tour 10 universities across Africa. This grand-scale competition offers a platform for young minds to bring their tech-driven ideas to life, fostering entrepreneurship and creating sustainable businesses.

The theme, “Meta-Idea: DigiTech Solutions for Africa’s Prosperity,” emphasizes the competition’s focus on practical solutions that address real-world challenges faced by Africans. Wema Bank’s commitment to innovation extends beyond its own products and services. Through Hackaholics, they actively support the development of a new generation of tech leaders equipped to tackle Africa’s specific needs.

“Empowering Lives Through Innovation” is a core value for Wema Bank, as highlighted by Tunde Mabawonku, Executive Director of Retail and Digital Business. He emphasizes how Hackaholics bridges the gap in Africa’s innovation landscape by fostering collaboration and customer-centric solutions.

Solomon Ayodele, Wema Bank’s Head of Innovation, elaborates on the theme, stating it challenges young people to develop “extraordinary ideas” that offer practical solutions for African problems.

Hackaholics 5.0 signifies Wema Bank’s dedication to empowering Africa’s youth and shaping a brighter future through technological innovation.