Wema Bank has said that it will further stimulate entrepreneurship, attract investment, and accelerate Nigeria’s economic development by fostering a thriving technology ecosystem that complements the creative economy with the sixth edition of its Hackaholics 6.0.
Tunde Mabawonku, the Executive Director, Retail and Digital Business at Wema Bank, revealed this recently at a conference in Lagos. He also made a call for applications for the sixth edition of the bank’s Hackaholics initiative.
Hackaholics 6.0 focuses on attracting “bold, cutting-edge solutions” in key sectors like AI, blockchain, renewable energy, customer experience, and cybersecurity.
He explained that the initiative aligns with the bank’s strategic vision for its 80th anniversary in 2025, while it serves as a platform for developing solutions that address critical economic challenges.
According to him, the programme has the potential to generate innovations that create new avenues for economic activity and job creation and has recorded past successes in areas like transportation and healthcare.
He emphasised that with the initiative, the bank focuses on Science, Technology, Engineering and Mathematics (STEM) education and technological innovation as essential for future economic competitiveness.
Similarly, Babatunde Mumuni, Chief Transformation Officer at Wema Bank, said that the bank had continued to give support to innovative start-ups to progress.
In his words, “From inception to date, we have had a total of 18 winners, and we have given out about 200,000 U.S. dollars in grants to all the winners.
“As the years have passed, we have continued to increase the prize money. And note that by saying grants, the focus of the bank has been to find ways to empower these guys to progress.”
Head of Innovation at Wema Bank, Solomon Ayodele, said the theme of the 2025 innovation programme is “Steep beyond algorithms, engineering, disruptive innovation.”
According to him, the initiative aims to position Africa at the forefront of global technology and will feature a dual-track approach for technical talent and high-growth startups, focusing on verticals like customer experience and financial inclusion.
He explained that Regional hackathons would be held across Nigeria’s six geopolitical zones and Lagos, culminating in a grand finale.
Expanding its reach, he said that the programme would also include events in Accra, Ghana, and Kigali in Rwanda, acknowledging the growing number of applications from these regions.
Ayodele emphasised the programme’s accessibility, welcoming applications from various tech professionals and startups.
He noted that finalists would have the opportunity to join an accelerator programme, gaining access to resources and potential funding.
Past participants, such as Sophia Sadeeq, Chief Executive Officer (CEO) of MyTherapistng, and Ugonna Ginigeme, CEO of FIGO, shared their success stories.