Wema Bank has awarded a total of $200,000 in grants to 18 innovative startups that emerged as winners in its flagship hackathon, Hackaholics. The initiative is part of the bank’s commitment to fostering technological advancements and entrepreneurship by providing funding, mentorship, and market access to emerging businesses.
Speaking at a press conference in Lagos to announce applications for the sixth edition of Hackaholics, Wema Bank’s Chief Transformation Officer, Babatunde Mumuni, reaffirmed the institution’s dedication to supporting innovative enterprises. He noted that since the program’s inception, the bank has consistently increased prize money to help winners scale their ideas into viable businesses.
Beyond financial support, Wema Bank is expanding its innovation drive by collaborating with governors in the Southwest region to strengthen local tech ecosystems. The partnership aims to leverage technology for the transformation of food systems, enhancing agricultural productivity and efficiency.
The bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, highlighted the role of technology in addressing inefficiencies and improving market access within the agricultural sector. He emphasized Wema Bank’s commitment to fostering agritech solutions that can accelerate transformation in food production and distribution.
With Hackaholics gaining momentum, Wema Bank continues to position itself as a key player in driving innovation and supporting the next generation of entrepreneurs in Nigeria’s technology and agribusiness sectors.
