Wema Bank has rewarded 11 winning teams with N300 million at the seventh edition of its Hackaholics innovation programme to accelerate the development and commercialisation of technology-based solutions to economic and social challenges.
The funding was unveiled at the grand finale of Hackaholics 7.0, themed ‘Festival of the Future’, which was recently held in Lagos.
According to a statement from the lender, the competition attracted 5,329 participants and generated 1,632 ideas and innovative solutions across seven pitch centres in Uyo, Kano, Yaba College of Technology, Benin City, Ibadan, Enugu and Lagos.
Following the nationwide selection exercise, 59 participants emerged, while 21 finalists were shortlisted through a multi-stage evaluation process to compete for prizes across four categories: Startup/Ideathon, Social Impact, Women-Led and Hackathon.
The overall winner, Tony Nwose, founder of Niteon, received the N60m grand prize for his agricultural technology solution connecting farmers to processors, financial services and markets.
In the Startup/Ideathon category, Emmanuel Adeboje of Acceede emerged first runner-up, receiving N40m for his education-focused innovation, while David Lawani of All-Arbitrates came third, pocketing N20m for his digital platform designed to improve access to arbitration and dispute resolution.
In the Social Impact category, Kabir Olaosebikan of Craft Planet emerged as the winner, receiving N40m for his innovation that converts plastic waste into sustainable building materials.
Samuel Shonubi of SocialSign came second, receiving N30m for his sign language technology solution aimed at improving communication and digital inclusion for people with hearing impairments, while Oluwaseyi Akinlolu of Harthio secured third place with N20m for his mental wellness solution.
n the Women-Led category, Zainab Boluwatife Adeagbo of MamaAlert took the top prize of N20m for developing a digital healthcare solution aimed at improving women’s access to timely medical services.
Precious Zino of URI finished second, earning N10m for her artificial intelligence-driven marketing solution, which enables businesses to enhance customer engagement and expand their digital reach.
In the Hackathon category, Kelvin Nnadi of Neural Forge emerged as the overall winner, receiving N30m for his AI-powered medical diagnostic innovation.
David Campbell of Nexa AI secured the second position and a N20m prize for his AI-powered customer intelligence solution, while Uti Henry of Vhorde came third, winning N10m for IRIS, an AI-enabled smart glasses innovation designed to help visually impaired people navigate their environment independently.
Speaking at the event, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said the funding demonstrated the bank’s commitment to providing tangible support for entrepreneurs developing solutions to critical economic challenges.
He said, “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.
“With Hackaholics 7.0, we are putting our money where our mouth is. The N300m 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.”
The overall winner, Nwose, said the award would support efforts to expand his agricultural technology solution and strengthen its capacity to connect African farmers to international buyers.
He said, “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, and we didn’t just stop there. We want to be able to provide credit for them to grow from horizontal farming to greenhouse, so beyond just export, beyond just straight finances, we then want them to be able to process locally.
“And this shows that Wema Bank is backing companies that are building the future in Nigeria.”
Since its launch in 2019, Hackaholics has evolved into a platform for identifying and supporting entrepreneurial talent across Africa.
According to the bank, the initiative has recorded 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 over 100 solutions from scratch.
The latest edition featured innovations spanning agriculture, healthcare, education, environmental sustainability, financial services and artificial intelligence, highlighting the growing role of technology-driven enterprises in addressing development challenges.
The bank added that the N300m investment was part of its sustained commitment to helping emerging businesses move beyond the idea stage through funding, mentorship, industry exposure and access to networks needed to scale their solutions.
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