‘Hackaholics Reflects Commitment To Africa’s Innovation Future’

The managing director and CEO of Wema Bank, Moruf Oseni, reaffirmed the bank’s commitment to empowering the youth of Africa as the Bank flagship innovation initiative, Hackaholics continues to invest in the next generation of innovators and strengthen Nigeria’s tech ecosystem.

Oseni stated this at the announcement of Bank seventh edition of its flagship innovation initiative, Hackaholics 7.0, themed ‘Powering Possibilities’.

Since its inception in 2019, Hackaholics has emerged as a vital platform for young Africans, designed to nurture creative, game-changing, tech-driven ideas and products. The initiative has made remarkable strides, discovering thousands of innovative solutions, supporting over 10,000 startups, engaging 50,000 participants, developing more than 100 solutions from the ground up, and awarding $500 million in grant prizes to winners from previous editions.

Hackaholics 7.0 will kick off with an open call for applications, inviting young Africans with innovative tech solutions across seven sectors: Financial Inclusion, Healthcare, Digital Transformation, Education, Sustainability, Social Impact, and Future of Work.

Oseni emphasised the Bank’s motivation for Hackaholics and its seven-year journey, expressing Wema Bank’s dedication to fostering innovation, empowering youth, and driving economic growth across Africa.

He stated, “at Wema Bank, we believe that our responsibilities go beyond providing commercial services. We aim to create meaningful opportunities, equip innovators with the necessary resources, and support the ecosystems that will shape today’s youth and tomorrow’s economy.”

Oseni added, “this commitment is what has fueled the evolution of Hackaholics from its inception to the present. Through Hackaholics, we are investing in the next generation of innovators, igniting a wave of innovation that will make a difference in people’s lives, bolstering Nigeria’s innovation ecosystem, and providing youth with a platform to harness their creativity. The impact we’ve made is evident in the numbers.”

The divisional executive, Business Support at Wema Bank, Tajudeen Bakare added, “as we launch Hackaholics 7.0 today, we are opening up a new phase of opportunities for more Nigerian youth to challenge themselves, explore their creativity and become startup founders.”

He encouraged every young Nigerian with a passion for innovation to leverage the opportunity that the Bank has carefully curated through Hackaholics and get ahead of the curve in today’s dynamic work landscape.

According to him, together, we can continue to build an ecosystem where innovation flourishes, opportunities expand, and young people are empowered to create solutions that shape the future.