TechPression

Tag: Hackaholics

  • Wema Bank celebrates innovation and inclusion at Hackaholics 5.0 finale

    Wema Bank celebrates innovation and inclusion at Hackaholics 5.0 finale

    Wema Bank convened the grand finale of Hackaholics 5.0, on November 27, 2024, a technology competition that aims to empower startups and youth in Africa. This event, entitled “Meta-Idea: DigiTech Solutions for Africa’s Prosperity,” underscored the potential of technology to confront societal challenges and stimulate economic development.

    Held as a testament to Wema Bank’s commitment to innovation, Hackaholics 5.0 attracted a diverse audience of participants, government officials, tech enthusiasts, and industry leaders. The event served as a platform for showcasing transformative ideas and celebrating ingenuity.

    Read also: Winners emerge from Zenith Bank hackathon, receive N77.5m

    How Wema Bank is empowering lives through innovation

    Since its inception in 2019, Hackaholics has become a significant platform for fostering creativity and entrepreneurship. Aligning with Wema Bank’s mission of “Empowering Lives Through Innovation,” the competition bridges gaps in Africa’s macroeconomic landscape by supporting the continent’s brightest minds.

    Hackaholics achieved a milestone this year with a record-breaking 4,310 applications from innovators across Africa. Participants addressed issues spanning health, education, agriculture, and financial services, presenting cutting-edge solutions to complex challenges.

    Wema Bank’s goals in driving STEM excellence in Africa

    In his keynote address, Mr. Moruf Oseni, the MD/CEO of Wema Bank, emphasised the significance of investments in STEM (Science, Technology, Engineering, and Mathematics) for Africa’s development.

    “No nation has successfully transitioned to First World status without significant investment in STEM,” he remarked. Oseni called on private and public stakeholders to foster an environment that nurtures technological innovation, emphasising that initiatives like Hackaholics catalyse this process.

    Wema Bank’s commitment to innovation is evident in its launch of Nigeria’s first fully digital bank, ALAT, which continues to serve as a springboard for tech-driven solutions. This year’s Hackaholics finalists competed for a prize pool exceeding ₦70 million, underscoring the bank’s dedication to empowering the youth.

    Keynote highlights: The role of women in digital transformation

    A standout moment of the event was the keynote speech by Debola Deji-Kurunmi, founder of Emerge Coaching Africa and a transformational leader. She spoke passionately about the role of women in Africa’s digital revolution and urged more inclusive investments in female-led tech ventures.

    Deji-Kurumi highlighted the existing funding gap in tech ecosystems, where only 5% of VC funding reaches female founders. She proposed strengthening tech ecosystems for women through mentorship, funding, and education. Her vision extended to redefining technology as a sector and an enabler across industries.

    Read also: NearSwipe Ltd, 9 other startups win N29.5 million in FirstBank’s Fintech Summit 6.0

    Beyond competition: Hackaholics’ broader impact

    Hackaholics 5.0 was not just about competition. It offered participants mentorship, networking opportunities, and exposure to a vibrant community of innovators. Over the years, the initiative has directly engaged over 1 million participants across Africa, fostering a robust innovation ecosystem.

    The finale also featured thought-provoking panel discussions, a showcase of Wema Bank’s corporate vision, and the celebration of groundbreaking startups set to redefine Africa’s tech landscape.

    Hackaholics 5.0 encapsulated Wema Bank’s ethos of innovation and its vision for Africa’s prosperity. By providing a platform for creative minds and advocating for technological advancement, the competition continues to be a beacon of hope for Africa’s future. As the event concluded, one message stood out: with suitable investments and collaborative efforts, Africa’s potential knows no bounds.

  • Yusuf wins 2023 MoMo Hackathon

    Yusuf wins 2023 MoMo Hackathon

    Oluwapelumi Yusuf won the first MTN MoMo Hackathon in Nigeria. Yusuf won the $5,000 grand prize for coming up with Rova Pay, which uses MoMo APIs and has features beyond financial transactions.

    With Rova Pay, customers can easily make purchases anytime, anywhere, using automated USSD, which eliminates the need for internet access and typing in codes by hand.

    Read also: MoMo PBS Limited Begins Operations in Nigeria

    How MoMo Got It Started

    Tech developers, entrepreneurs, and innovators from a wide range of fields gathered at Four Points by Sheraton, Oniru Chieftaincy Estate, Victoria Island, Lagos, on Friday, October 27, 2023, to work on finding ways to speed up financial inclusion and the digitisation of payments in Africa.

    The MoMo Hackathon is necessary for the Nigerian fintech industry, according to Chief Commercial Officer of MoMo PSB, Elsa Muzzolini. “At MoMo, we believe that innovation thrives not just within our brand but within the collective of stakeholders. We are providing developers with the tools and resources to reach those who are excluded from financial services or believe financial services are not personalised to their requirements. We work together to promote financial inclusion. Making MoMo available to Nigerian innovators, we help them create life-changing apps.

    Yusuf wins 2023 MoMo Hackathon

    After winning the MoMo Hackathon 2023, Oluwapelumi Yusuf said, “I am thrilled and honoured. Visiting remote Nigerian villages and seeing the constraints of internet connectivity for fundamental apps, especially payment, inspired me to create this solution. I realised I needed to help financial inclusion and bridge this gap.” 

    The MoMo Hackathon had more than just Oluwapelumi Yusuf, who stood out. Favour Ajie Divine and Marvis Igbokwe worked together to make MoMo Cash, which won second place and a cash prize of USD 3,000. Isaac Odinaka Franklin’s answer, Clique Plus Pay, won third place and a cash prize of USD 2,000.

    The top 12 competitors also got gifts and were invited to represent Nigeria in the MoMo Hackathon at the Pan African grand finals.

    Nigeria, Ghana, Uganda, Ivory Coast, Cameroon, Rwanda, Eswatini, Congo Brazzaville, Guinea Conakry, Zambia, Benin, South Africa, and South Sudan were just some of the 14 African countries that sent developers to the hackathon. They had the chance to help shape the future of digital finance and give millions of people access to complete, life-changing financial services.

    The MoMo Hackathon is still a big part of how financial technology is improved, giving smart people chances to make a real difference in the field.

  • Nigerian digital bank Alat invites entries for ‘Re-imagine’ project to boost ICT talents

    Nigerian digital bank Alat invites entries for ‘Re-imagine’ project to boost ICT talents

    ALAT by Wema, Nigeria’s leading digital bank, has issued a call for entries for the 2023 edition of its hackathon event.

    This effort is a component of the Hackaholics 4.0 “Re-imagine” project, which seeks to identify and develop tech talent.

    This year’s edition aims to explore the boundless possibilities of emerging technologies while utilising its neo-bank proposal to significantly widen the student and youthful ecosystem, deepen the bank’s brand and position the brand to recruit and retain tech talent.

    Alat Hackaholics 4.0 event

    The Hackaholics programme is a youth-focused competition for entrepreneurs and innovators with game-changing tech-driven or tech-enabled concepts and products who want to develop and rapidly scale their enterprises.

    It is geared towards young Nigerians who use their coding, product curation, and pitching skills to solve major societal issues in several businesses.

    During the campaign, the bank intends to involve 10,000 tech entrepreneurs, produce 5,000 ideas, establish six pitch centres, and receive over one million visitors. This year, the winner will receive $10,000.

    Read also: Lagos Startup Expo holds in May 20 2023

    This year’s Hackaholics edition is expanding its scope and exploring other verticals, such as education, environment, civic tech, insurance, government technology, health, gender-based violence, fintech, financial inclusion, and entertainment, in order to cover more ground in regard to societal issues.

    “We want to encourage young minds who can build solutions beyond just naira and kobo; we want people who can solve real-world problems around civic-tech, gov-tech, converting gender-based violence, entertainment, and health, and this is why we chose the theme “Re-imagine,” said Solomon Ayodele, Head of Innovation at ALAT by Wema.

    Each centre will choose 40 teams, but only ten will pitch. Six universities will host this round of live pitches: Lagos State University, University of Benin, Babcock University, Nile University, Abuja, University of Abuja, and the Federal University of Technology, Akure.

    The finale will take place at the University of Lagos. In addition, a select group of participants will receive a two-day excursion to explore the operations of leading organisations in their solution vertical.

    How to apply

    The Hackaholics competition is open to any Nigerian youth who is currently working on a solution. This category comprises non-programmers and those without a Computer Science degree.

    Your solution, competition, target market, and the team must be summarised (a minimum of 3). Every interested applicant must have an ALAT account.

    Shortlisted applicants will be invited to the incubation session, which is sponsored by Amazon, Microsoft, Endeavour Africa, and others.

    Data Protection Stakeholders to speak at ‘PrivCon Nigeria 2023’

    Opportunities 

    These innovators and startup founders will benefit from the live pitches and incubation sessions, including:

    • Give funds to innovators and startup founders to establish and scale their solutions. 
    • Product development and integration will benefit from the hackathon. 
    • Teams and solutions will be highly visible. 
    • Give founders access. 
    • Provide founders with mentoring and guidance.  
    • Learn from industry leaders.

    A committee of industry experts will select the winners of the $7 million in cash prizes in the grand finale from the selected contenders’ unique ideas.

    The winner receives $3 million, the first runner-up receives $2 million, and the second runner-up receives $1 million. The first women-led startup receives $1 million.