Wema Bank Launches 5th Edition of Hackaholics Tech Competition with Over N70 Million in Prizes

Wema Bank's Hackaholics 5.0 competition offers over ₦70 million in prizes for African youth to develop digital solutions promoting Africa's prosperity. The competition aims to empower innovators and drive economic growth across the continent.

author-image
Trim Correspondents
New Update
Wema Bank Launches 5th Edition of Hackaholics Tech Competition with Over N70 Million in Prizes

Wema Bank Launches 5th Edition of Hackaholics Tech Competition with Over N70 Million in Prizes

On April 18, 2024, Wema Bank, Nigeria's inventive bank, launched the 5th edition of Hackaholics, a tech competition offering over N70 million in prizes for African youth to develop digital solutions promoting Africa's prosperity. The competition, themed 'Meta Idea DigiTech Solutions for Africa's Prosperity', will be executed over a six-month period, touring 10 universities across Africa and challenging the youth to pitch unique, innovative, and practical digital tech solutions to positively impact the acceleration of progress, development, and prosperity in Africa.

Hackaholics is an annual tech and innovation competition birthed by Wema Bank in 2019 that has impacted the lives of more than 150,000 young Nigerians on the continent. Over the past 4 editions, Hackaholics has transformed thousands of Nigerian lives and businesses, helping youth with interests spread across different areas to build their own startups, create sustainable income sources, and gain a competitive edge on the global tech and innovation scene.

Why this matters: The launch of Hackaholics 5.0 highlights Wema Bank's commitment to championing innovation and empowering innovators in Africa. The competition aims to bridge the gaps in Africa's macroeconomic landscape through innovation and provide opportunities for young Africans to showcase their skills and ideas, driving economic growth and development across the continent.

Wema Bank's Executive Director of Retail and Digital Business, Tunde Mabawonku, emphasized the bank's commitment to fostering youth development and talent through initiatives like Hackaholics. "Wema Bank is reportedly pulling all the stops to make this edition the grandest ever," Mabawonku stated, highlighting the bank's dedication to supporting young innovators in Africa.

The 5th edition of Hackaholics offers a total cash prize of over N70 million for top innovators across Africa. With Wema Bank as the pioneer of Africa's first fully digital bank ALAT, the competition aligns with the bank's focus on leveraging digital solutions to drive progress and prosperity on the continent. As the competition kicks off its tour of 10 African universities, young innovators are positioned to pitch their game-changing ideas and potentially scale their ventures to new heights through the support and platform provided by Hackaholics.

Key Takeaways

  • Wema Bank launches 5th edition of Hackaholics, a tech competition with N70M in prizes.
  • Hackaholics aims to develop digital solutions to drive Africa's prosperity and progress.
  • Competition to be held across 10 African universities, impacting over 150,000 young Nigerians.
  • Wema Bank committed to fostering youth innovation and talent through Hackaholics.
  • Competition aligns with Wema's focus on digital solutions to drive progress in Africa.