Wema Bank has launched hackaholics 7.0 and unveiled new tracks and millions in grants for African Startups.
NewsOnline Nigeria reports that Wema Bank has announced the seventh edition of its flagship innovation programme, Hackaholics, introducing three competition tracks, seven innovation verticals, and millions of naira in grant prizes for startups and young innovators across Africa.
The announcement was made on Wednesday during a press conference held at the bank’s headquarters in Lagos.
Launched in 2019, Hackaholics is Wema Bank’s technology and youth-focused initiative aimed at helping young Africans transform innovative ideas into viable businesses.
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According to the bank, the initiative has supported more than 10,000 startups, engaged over 50,000 participants, developed more than 100 technology solutions, and awarded grants worth over $500,000 to outstanding innovators over the past six editions.
The seventh edition, themed “Powering Possibilities,” is expected to be the largest in the programme’s history.
Applications are now open to innovators with technology-driven solutions across seven focus areas: Financial Inclusion, Healthcare, Digital Transformation, Education, Sustainability, Social Impact, and the Future of Work.
Participants can apply under one of three categories: the Startup Pitch Competition, Hackathon, and the newly introduced Social Impact Track through the official Hackaholics application portal.
Following the application phase, Wema Bank will embark on a nationwide innovation tour covering 10 pitch centres across Nigeria’s six geopolitical zones, where shortlisted innovators will present their solutions for a chance to qualify for the grand finale.
Speaking at the launch, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said the initiative reflects the bank’s commitment to driving innovation, empowering young people, and supporting Africa’s digital economy.
“At Wema Bank, we believe institutions have a responsibility beyond providing financial services. We must create opportunities, provide resources, enable innovation, and support the ecosystems that will shape tomorrow’s economy.
“Through Hackaholics, we continue to invest in the next generation of innovators, strengthen Nigeria’s innovation ecosystem, and provide young people with a platform to transform their creativity into impactful solutions,” Oseni said.
Also speaking, the bank’s Divisional Executive for Business Support, Tajudeen Bakare, encouraged young Nigerians to seize the opportunity to build innovative businesses.
“As we launch Hackaholics 7.0, we are opening another chapter of opportunities for young innovators to challenge themselves, explore their creativity, and become startup founders.
“We encourage every young Nigerian with innovative ideas to take advantage of this platform as we continue to build an ecosystem where innovation thrives and young people create solutions that shape the future,” he said.
Wema Bank said participation in Hackaholics 7.0 is free and open to Nigerian youths with innovative technology solutions.
Interested applicants can submit their entries through the Hackaholics portal, while updates on the competition will be published on the bank’s official website and social media platforms.
