Wema Bank, a leading innovative financial institution and the pioneer of Africa’s first fully digital bank, ALAT, has announced the grand finale of its youth-focused tech competition, Hackaholics 5.0. Scheduled for November 27, 2024, in Lagos, the event will reward participants with a total prize pool of ₦75 million under the theme “Meta Idea: Catalyzing Africa’s Growth Through Innovation.”
Since its launch in 2019, Hackaholics has served as a platform for Nigerian youth and startups to transform tech-driven ideas into impactful solutions. The competition has grown into one of the country’s most influential tech events, engaging over 10,000 young innovators and entrepreneurs this year alone.
Speaking about the event, Wema Bank’s MD/CEO, Moruf Oseni, emphasized the competition’s role in fostering Africa’s digital transformation. “Hackaholics is more than a competition; it’s a movement to equip Nigeria’s youth with the skills, networks, and resources needed to drive Africa’s digital transformation. This year’s theme challenges young innovators to think beyond the present and design solutions that will capitalize on Africa’s growth,” he said.
The grand finale will see participants pitch innovative Digi-Tech solutions addressing real-world challenges. Out of over 2,297 applications received from 8 physical and 1 virtual pitch centers nationwide, 34 innovators have advanced to the pre-pitch stage leading up to the finale.
The competition offers cash rewards, grants, and access to Wema Bank’s network of investors, mentors, and industry leaders. The prize breakdown includes ₦30 million for the winning team, ₦20 million for the first runner-up, and ₦15 million for the second runner-up. Additionally, a special ₦10 million grant will be awarded to a female-led team, promoting gender diversity in tech innovation.
Hackaholics continues to serve as a vital platform for empowering youth to address Africa’s pressing challenges through technology. The program provides mentorship, networking opportunities, and resources to help participants scale their innovations globally.
The event highlights Wema Bank’s commitment to leveraging technology for socio-economic growth, positioning Hackaholics as a catalyst for Africa’s future innovation landscape.
Interested individuals can register to attend the grand finale via [hackaholics.wemabank.com/grandfinale](https://hackaholics.wemabank.com/grandfinale).