With the sixth edition of its Hackaholics 6.0, Wema Bank has stated that it will further encourage entrepreneurship, draw in investment, and quicken Nigeria’s economic growth by cultivating a flourishing digital ecosystem that supports the creative economy.
This was recently disclosed at a conference in Lagos by Tunde Mabawonku, the Executive Director, Retail and Digital Business of Wema Bank. Additionally, he issued an application call for the sixth iteration of the bank’s Hackaholics program. The goal of Hackaholics 6.0 is to draw in “bold, cutting-edge solutions” in important fields including cybersecurity, blockchain, AI, renewable energy, and customer experience.
Mabawonku clarified that the program is in line with the bank’s strategy plan for its 80th anniversary in 2025 and provides a forum for creating answers to pressing economic issues. He claims that the program has demonstrated success in the past in sectors like healthcare and transportation and can provide innovations that open up new opportunities for economic activity and job creation. He underlined that the project is part of the bank’s commitment to STEM education and technological innovation, which are critical for future economic competitiveness.
In the same vein, Babatunde Mumuni, Wema Bank’s Chief Transformation Officer, stated that the bank has persisted in helping creative start-ups advance. He said: “From inception to date, we have had a total of 18 winners, and we have given out about 200,000 U.S. dollars in grants to all the winners. As the years have passed, we have continued to increase the prize money. And note that by saying grants, the focus of the bank has been to find ways to empower these guys to progress.”
“Steep beyond algorithms, engineering, disruptive innovation” is the subject of the 2025 innovation program, according to Solomon Ayodele, head of innovation at Wema Bank.
Mumuni claims that the program will have a dual-track strategy for technical talent and high-growth businesses, with an emphasis on sectors like financial inclusion and customer experience, to put Africa at the forefront of global technology. He clarified that there would be a grand finale after regional hackathons in Lagos and Nigeria’s six geopolitical zones, BrandSpur technology and information news reports.
In recognition of the increasing volume of applicants from these areas, he stated that the program would also feature events in Accra, Ghana, and Kigali, Rwanda, therefore broadening its scope. Ayodele underlined how accessible the program is and invited applications from companies and a range of tech experts.
Finalists would have the chance to enrol in an accelerator program, which would provide them access to resources and possible money, he said. Former attendees highlighted their success stories, including Ugonna Ginigeme, CEO of FIGO, and Sophia Sadeeq, CEO of MyTherapistng.
