Wema Bank to support startups, innovators with N70m cash

Wema Bank has given about N70million to support start-ups and innovators under its youth and startup-focused tech competition programme, tagged Hackaholics 5.0.

This was announced at the bank’s Head Office in Lagos, on Thursday, April 18, 2024.

Hackaholics is a yearly tech and innovation competition brough up by the bank.

The “Hackathon” gives a platform for young Nigerians with tech-driven ideas to bring the ideas to life, scale their ventures and access a wider market for these tech-enabled solutions.

The 2024 edition, themed: “Meta-Idea: DigiTech Solutions for Africa’s Prosperity”, pledges a total cash prize of over N70million for top innovators across Africa.

Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, stressed on the role of Hackaholics in bridging the gap in Africa’s macroeconomic landscape through innovation.

He said: “Our mission is to ‘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.

“With Hackaholics, we have taken our innovation drive outside the bank, empowering youths 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 in 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.”

BEB