Wema Bank Unveils Hackaholics 7.0, Introduces Three Innovation Tracks and Multi-Million Naira Grants for Young Tech Entrepreneurs
Wema Bank, Nigeria’s oldest indigenous national bank and pioneer of Africa’s first fully digital bank, ALAT, has officially launched the seventh edition of its flagship innovation programme, Hackaholics, introducing three competition tracks, seven innovation verticals and millions of naira in grant prizes for outstanding young innovators.
The announcement was made during a press conference held on Wednesday, July 1, 2026, at the bank’s headquarters in Lagos.
Since its inception in 2019, Hackaholics has evolved into one of Nigeria’s leading innovation platforms, providing young Africans with opportunities to transform bold, technology-driven ideas into viable businesses. Over the past six editions, the initiative has supported more than 10,000 startups, engaged over 50,000 participants, developed over 100 innovative solutions and rewarded outstanding innovators with grants valued at over $500 million.
The 2026 edition, themed “Powering Possibilities,” promises to be the biggest yet, with an expanded structure designed to deepen innovation and entrepreneurship across Nigeria.
Applications are now open to young Africans with innovative technology solutions across seven key sectors: Financial Inclusion, Healthcare, Digital Transformation, Education, Sustainability, Social Impact, and the Future of Work.
Participants can register through the dedicated portal under any of three categories: the Startup Pitch Competition, Hackathon, or the newly introduced Social Impact Track, which aims to reward innovations addressing pressing societal challenges.
Following the application phase, Wema Bank will embark on a nationwide innovation tour spanning 10 pitch centres across Nigeria’s six geopolitical zones. Successful participants from each regional hub will qualify for the grand finale, where winners of Hackaholics 7.0 will emerge.
Speaking during the launch, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, reaffirmed the bank’s commitment to nurturing innovation, empowering young people and driving economic growth across Africa.
According to him, institutions have responsibilities beyond providing financial services, stressing that Wema Bank remains committed to creating opportunities, supporting innovation ecosystems and equipping young people with the resources needed to shape the future.
He noted that Hackaholics has become a strategic platform through which the bank continues to invest in the next generation of innovators while strengthening Nigeria’s growing technology ecosystem.
Also speaking, Wema Bank’s Divisional Executive for Business Support, Tajudeen Bakare, described the launch of Hackaholics 7.0 as the beginning of another wave of opportunities for Nigerian youths to showcase their creativity, develop scalable solutions and build successful startups.
He encouraged aspiring innovators across the country to seize the opportunity, noting that the programme is designed to equip participants with the platform and exposure needed to thrive in today’s rapidly evolving digital economy.
Hackaholics 7.0 is free to enter and open to Nigerian youths with innovative ideas and technology-driven solutions. Interested applicants can submit their entries through the programme’s online application portal, while updates on the competition will be available via Wema Bank’s official website and social media channels.