…Over N70,000,000 cash prize earmarked for Youths Across Africa in Hackaholics 5.0.
Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has officially announced the launch of the 5th edition of its flagship youth and startup-focused tech competition, Hackaholics.
This announcement was made at the press conference to announce Hackaholics 5.0 held at the Bank’s Head Office in Lagos on Thursday, April 18th, 2024.
Hackaholics is an annual tech and innovation competition birthed by Wema Bank in 2019. This groundbreaking annual Hackathon provides a platform for young Nigerians with tech-driven ideas to bring their game-changing ideas to life, scale their ventures and access a wider market for these tech-enabled solutions. Hackaholics has, over 4 editions, transformed thousands of lives and businesses across the country, helping Nigerian Youth to build their own Startups, create sustainable sources of income and gain a competitive edge on the global tech and innovation scene.
Themed “Meta-Idea: DigiTech Solutions for Africa’s Prosperity”, the 5th edition of Hackaholics pledges a total cash prize of over N70,000,000 for top innovators across Africa. This grand scale edition will be executed over a six-month period, touring 10 Universities across Africa and challenging the Youth to pitch unique, innovative and practical Digi-Tech solutions to positively impact the acceleration of progress, development and prosperity not just in Nigeria but across the African continent.
Reaffirming the bank’s commitment to championing innovation and empowering innovators, Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, emphasised the role of Hackaholics in bridging the gaps in Africa’s macroeconomic landscape through innovation.
According to him, “Our mission as a bank is very clear, ‘Empowering Lives Through Innovation’ and this is the exact purpose behind Hackaholics. Within the bank, we have transformed the status quo and redefined the standards with cutting-edge solutions and technology, hence our position as Nigeria’s most innovative bank, but we didn’t end there. With Hackaholics, we have taken our innovation drive outside the bank, empowering youth for success and facilitating the development of transformative solutions tailored to the needs of diverse Nigerians and even the African populace. By embracing innovation, fostering a culture of collaboration, and prioritising customer-centricity, we have and will continue to transform and position Wema Bank as a digital leader, in action, products and services. Our aspirations are not merely about implementing new technologies; they are about fundamentally transforming how we operate, to be Simple, Seamless, Convenient and Reliable in service to our customers.
“Hackaholics aligns with the sustainability vision of the bank, ‘Developing Digital Solutions for Societal Impact’. Over the years, we have been privileged to not only peek into some very insightful ideas, lifechanging products and companies that have been created via this platform but also drive sustainable growth in every vertical of the Nigerian economy. This year, we aspire to expand into Pan-African frontiers, taking the magic from the Hackaholics train beyond Nigeria. As Walt Disney said, ‘ideas come from curiosity’. So how can we improve the health sector across Africa? How can we transform the education sector? How can we drive positive change across various verticals? Hackaholics is the platform that not only challenges creative minds and piques curiosity to bring those ideas to life, but also provides invaluable tools and resources to amplify the ideas, taking them from Idea to Product for the world to benefit. Interestingly, Hackaholics itself came and began as an idea. And today it has metamorphosed into the formidable Platform we see today. With Hackaholics, we are on the way to birthing and discovering another Unicorn in Africa, and I hope that you will stick with us as this journey unfolds”, Mabawonku said.
Expatiating on the details of Hackaholics 5.0, Wema Bank’s Head of Innovation, Solomon Ayodele added, “The theme for this year is ‘Meta-Idea: DigiTech Solutions for Africa’s Prosperity’. The theme is anchored on two principal factors—The Meta Idea and African Prosperity. We are challenging the youth to develop extraordinary ideas that will proffer practical solutions to our local problems as Africans. This year, we are widening our scope across the six geopolitical zones in Nigeria, and we are also touching Africa. As you may know, we launched the Hackaholics Digital Summit last year, culminating the Hackaholics 4.0 journey in grand style.
“This year, you’re going to experience the Coachella of the tech industry at our Hackaholics 5.0 grand finale tech festival, and the journey begins today. For this year’s Hackaholics, we are not limiting entries to any specific verticals. Any verticals you can think of will be accepted. Our focus for Hackaholics 5.0 is the brilliance of your mind so we leave it to you to discover a problem area that matters and develop an innovative solution that will drive positive impact. Our goal is to birth solutions that address diverse aspects of real-world challenges, and you have the opportunity to be a part of this transformative journey. To submit your entry please visit https://hackaholics.wemabank.com/register”.
Wema Bank has rightfully earned its acknowledgement as Nigeria’s leading innovative bank and with the bank’s unique range of innovative solutions designed for societal impact constantly proliferating, the bank is guaranteed to retain this position for a long time. Through Hackaholics 5.0, Wema Bank is taking on the mantle of enabling Nigerian Youth and aspiring Startup Owners to also become innovators, championing national development and the prosperity of the entire African Continent, all through this one revolutionary hackathon, Hackaholics 5.0.