Wema Bank Earmarks N70m Cash Prizes For 5th Hackaholics Winners
Wema Bank has announced a generous N70 million in cash rewards for the winners of the 5th edition of its Hackaholics competition, a showcase of innovation and technological prowess. Initiated in 2019, Hackaholics has rapidly become a cornerstone event for young Nigerians in the tech sphere, providing a platform for the realization of dynamic tech-driven initiatives.
The grand prize of N30 million awaits the Hackaholics champion, with the first and second runners-up receiving N20 million and N15 million, respectively. Moreover, a special N10 million cash gift is designated for the winner of the Women Category, underlining the bank’s commitment to gender inclusivity in technology and entrepreneurship.
During a press conference held at the bank’s headquarters in Lagos, Wema Bank’s management illuminated the transformative impact of the past four editions of Hackaholics. They detailed how the competition has redefined the prospects for Nigerian youth, enabling the birth and growth of startups, fostering sustainable incomes, and elevating Nigeria’s status on the global tech and innovation stage.
This year’s event, themed ‘Meta-Idea: DigiTech Solutions for Africa’s Prosperity,’ aims to address the macroeconomic challenges plaguing Africa through innovative technology solutions. Tunde Mabawonku, the executive director of Retail and Digital Business at Wema Bank, highlighted the bank’s enduring mission of empowering lives through innovation. “By leveraging on our innovative culture, we’ve not only redefined our operational paradigms but also extended our drive beyond the confines of our bank,” Mabawonku stated, emphasizing the bank’s commitment to digital excellence and customer-centricity.
Detailing the objectives of Hackaholics 5.0, Solomon Ayodele, Head of Innovation at Wema Bank, pointed to a widened ambit for this year’s edition, extending invitations across Nigeria and the broader African continent. Ayodele’s remarks underscored the competition’s inclusive ethos, inviting entries that address a spectrum of local and continental challenges without restriction to specific industry verticals.
The initiative underscores Wema Bank’s pioneering legacy, notably as the progenitor of Africa’s first fully digital bank, ALAT. Through Hackaholics 5.0, Wema Bank reaffirms its dedication to championing a new generation of Nigerian and African innovators and entrepreneurs, determined to contribute to national development and continent-wide prosperity through technological innovation.
Aspiring participants and tech enthusiasts are encouraged to the bank’s website to submit their entries, joining a groundbreaking movement towards digital transformation and socio-economic empowerment. With Hackaholics, Wema Bank continues its journey of fostering a culture of innovation and excellence, aimed at enriching lives and enhancing business success across Africa.
