Wema Bank Unveils 7th Hackaholics Edition, Featuring Three Competition Tracks, Seven Focus Areas, and Multi-Million Naira Grant Rewards

Wema Bank, Nigeria’s longest-standing indigenous financial institution and a pioneer in digital banking through its flagship platform ALAT, has unveiled the 7th edition of its innovation program, Hackaholics. The announcement was made on July 1, 2026, during a press briefing held at the bank’s headquarters in Lagos, Nigeria.

Since its debut in 2019, Hackaholics has grown into one of Africa’s leading youth and tech innovation platforms. The initiative was created to empower young Africans with bold, technology-driven ideas by providing them with a space to develop, test, and scale their solutions. Over the years, it has uncovered thousands of innovative concepts, supported more than 10,000 startups, engaged over 50,000 participants, helped build upwards of 100 solutions from the ground up, and awarded substantial grant funding—amounting to $500 million—to multiple winning teams across its previous six editions. With Hackaholics 7.0, Wema Bank aims to deliver its most impactful edition yet.

Branded “Powering Possibilities,” this year’s edition will begin with an open invitation for applications from young innovators across Africa. Participants are encouraged to submit solutions aligned with seven key focus areas: Financial Inclusion, Healthcare, Digital Transformation, Education, Sustainability, Social Impact, and the Future of Work. Entries will be submitted through the official portal, hackaholics.wemabank.com, and categorized into three participation tracks: the Startup Pitch Competition, a Hackathon segment, and a newly introduced Social Impact track.

Following the application phase, the program will embark on a nationwide tour covering 10 pitching hubs across Nigeria’s six geopolitical zones. At each location, participants will present their ideas, compete for top positions, and earn a chance to advance to the grand finale, where the overall winners of Hackaholics 7.0 will be crowned.

Speaking at the launch, Wema Bank’s Managing Director and CEO, Moruf Oseni, emphasized the institution’s long-term commitment to fostering innovation, empowering young people, and driving economic progress across Africa. He noted that Hackaholics reflects the bank’s broader responsibility beyond traditional banking—focused on enabling ecosystems where creativity and innovation can thrive, while equipping young people with opportunities to shape the future economy.

Also commenting at the launch, Tajudeen Bakare, the bank’s Divisional Executive for Business Support, described Hackaholics 7.0 as a gateway for young Nigerians to transform ideas into viable ventures. He encouraged aspiring innovators to take advantage of the platform to build, compete, and position themselves for success in an increasingly digital world.

Hackaholics 7.0 is free to enter and open to young Nigerian innovators with scalable tech-driven ideas. Applications are currently being accepted via hackaholics.wemabank.com, with ongoing updates available through Wema Bank’s official website and its social media channels @wemabank and @alat_ng.