Wema Bank Launches Hackaholics 7.0 with $500K Grants

Wema Bank officially launched Hackaholics 7.0 during a press conference held at the bank's headquarters in Lagos. This initiative, which began in 2019, focuses on technology and aims to help young Africans transform innovative ideas into viable businesses.

The bank plans to support 10,000 startups and engage 50,000 participants to develop 100 technological solutions. A total of $500,000 in grants will be awarded to outstanding innovations from past editions.

The theme for this seventh edition is "Power Possibilities," and it is expected to be the largest program in its history. Applications are open for technology-driven solutions across seven focus areas, including financial inclusion, healthcare, digital transformation, education, sustainability, social impact, and future work.

The initiative includes a startup pitch competition and a newly introduced social impact track. Following the application phase, Wema Bank will conduct a nationwide innovation tour covering 10 pitch centers across Nigeria's six geopolitical zones.

Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank, emphasized the bank's commitment to driving innovation and empowering young people in Africa's digital economy.