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Wema Bank has awarded N300 million to 11 innovators whose technology-driven solutions address challenges in agriculture, healthcare, education, environmental sustainability and other critical sectors of the economy, as part of efforts to support entrepreneurship, job creation and economic growth.
The beneficiaries emerged from 5,329 participants who submitted 1,632 innovative ideas during the seventh edition of the bank’s Hackaholics programme, which culminated in a grand finale themed ‘Festival of the Future’, recently held in Lagos.
Founder of Niteon, Tony Niteon Nwose, clinched the N60 million grand prize for developing an agricultural technology platform that connects farmers to processors, financial services and markets, while providing opportunities to expand production and access international buyers.
The competition, held across seven pitch centres in Uyo, Kano, Yaba College of Technology, Benin, Ibadan, Enugu and Lagos, produced 59 participants from the nationwide selection exercise, with 21 finalists eventually shortlisted to compete in four categories: Startup/Ideathon, Social Impact, Women-Led and Hackathon.
In the Startup/Ideathon category, Emmanuel Adeboje of Acceede emerged first runner-up, winning N40 million for an education-focused solution, while David Lawani of All-Arbitrates received N20 million for developing a digital platform to improve access to arbitration and dispute resolution.
Kabir Olaosebikan of Craft Planet won N40 million in the Social Impact category for an innovation that converts plastic waste into sustainable building materials, while Samuel Ayomide Shonubi of SocialSign received N30 million for developing sign language technology to improve communication and digital inclusion for people with hearing impairments.
Oluwaseyi Whyte Akinlolu of Harthio secured N20 million for a mental wellness solution, completing the winners in the category.
In the Women-Led category, Zainab Boluwatife Adeagbo of MamaAlert emerged winner, receiving N20 million for a digital healthcare solution designed to improve women’s access to timely medical services, while Precious Zino of URI won N10 million for an artificial intelligence-powered marketing platform that helps businesses improve customer engagement.
The Hackathon category was won by Kelvin Nnadi of Neural Forge, who received N30 million for an AI-powered medical diagnostic solution, followed by David Campbell of Nexa AI, who won N20 million for an AI-powered customer intelligence platform.
Uti Henry of Vhorde received N10 million for IRIS, an AI-powered smart glasses innovation designed to help visually impaired people navigate their surroundings independently.
Speaking at the grand finale, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said the N300 million investment demonstrated the bank’s determination to move beyond recognising innovative ideas to providing the financial and institutional support required to transform them into commercially viable enterprises.
“At Wema Bank, we believe that the future of our economy will be shaped by the ideas we recognise, nurture and invest in today. Across Nigeria, young innovators are developing remarkable solutions to challenges in agriculture, healthcare, education, financial services and several other sectors. Our responsibility is to ensure that these ideas receive the support and resources required to translate into meaningful impact,” he said.
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Oseni explained that the programme was designed to identify promising entrepreneurs and provide them with funding, mentorship, industry exposure and access to networks capable of accelerating business growth.
“With Hackaholics 7.0, we are putting our money where our mouth is. The N300 million awarded to this year’s winners reflects our confidence in their ideas and our commitment to backing the next generation of entrepreneurs and technology leaders.
“We are investing in businesses that can create jobs, transform industries, unlock opportunities and contribute meaningfully to Nigeria’s economic growth.
“Through Hackaholics, we will continue to identify promising talent, support groundbreaking solutions and empower the people building a better future for Nigeria and Africa,” he added.
The overall winner, Nwose, said the prize would enable his company to expand its agricultural technology platform, improve access to credit for farmers and strengthen links between African producers and international markets.
“I feel super excited; I give praise to God at the end of the day. We built a solution that connects African farmers to international buyers,” he said.
He explained that the company also intended to provide financing that would enable farmers to expand from conventional cultivation into greenhouse production, while supporting local processing and export opportunities.
“And this shows that Wema Bank is backing companies that are building the future in Nigeria,” he added.
Since its introduction in 2019, Hackaholics has grown into an innovation and entrepreneurship platform through which Wema Bank identifies and supports emerging technology businesses.
According to the bank, the initiative has attracted more than 21,000 applicants across seven editions, engaged over 50,000 participants, supported more than 10,000 startups across three countries and contributed to the development of more than 100 solutions.
The bank said the latest N300 million funding package formed part of its continuing commitment to helping promising businesses move beyond the idea stage, develop commercially sustainable products and contribute to Nigeria’s economic development.
