Nigeria’s Wema Bank has announced 11 winners of its Hackaholics 7.0 innovation competition, with ₦300 million in awards aimed at supporting emerging technology startups and young entrepreneurs across the country.
The grand finale, held in Lagos on November 6, 2026, brought together promising innovators competing for financial support, recognition and opportunities to develop their businesses.
Held under the theme “Festival of the Future,” the competition celebrated innovative solutions in agriculture, education, artificial intelligence, healthcare and environmental sustainability.
Agritech Startup Niteon Wins ₦60 Million
Agricultural technology startup Niteon emerged as the overall winner, securing the competition’s top award of ₦60 million.
The venture, associated with founder Tony Niteon Nwose, focuses on connecting farmers with agricultural processors, financial services and markets.
Its technology aims to address challenges facing Nigerian farmers, including limited market access, financing difficulties and fragmented agricultural supply chains.
Other Startups Receive Major Awards
Education-focused startup Acceede and environmental technology company Craft Planet were each awarded ₦40 million.
Craft Planet develops solutions that transform plastic waste into building materials, while Acceede focuses on improving access to education through technology.
SocialSign, which develops sign-language accessibility solutions, and Neural Forge, an artificial intelligence-powered medical diagnostics venture, were among the startups recognised with ₦30 million awards.
Other winners included All-Arbitrates, Harthio, Nexa AI, MamaAlert, Vhorde and URI.
Over 5,000 Participants Join Competition
According to figures released by Wema Bank, Hackaholics 7.0 attracted 5,329 participants who submitted 1,632 innovative ideas across seven pitch centres.
Following several rounds of evaluation, 21 finalists advanced to the grand finale in Lagos, where 11 ventures emerged as winners.
The competition provided a platform for young innovators to showcase their projects, connect with industry experts and attract support for business development.
Wema Bank Strengthens Support for Nigerian Startups
Through Hackaholics, Wema Bank is positioning itself as a supporter of Nigeria’s growing technology and entrepreneurship ecosystem.
The initiative aims to encourage innovation, promote digital transformation and provide emerging businesses with opportunities to develop sustainable solutions.
The ₦300 million award announcement represents a significant commitment to startup development. However, publicly available reports do not establish when all recipients will receive their awards or whether every allocation will be paid entirely in cash.
Nigeria’s Innovation Ecosystem Gains Momentum
Nigeria remains an important centre for African financial technology and digital innovation, with entrepreneurs increasingly developing solutions in banking, agriculture, healthcare and education.
Wema Bank’s Hackaholics competition reflects growing interest among financial institutions in supporting emerging technologies beyond traditional banking services.
For young African entrepreneurs, the competition highlights the opportunities that innovation, mentorship and financial support can create.
Have Your Say
Should more African banks invest directly in young technology startups, or should governments take greater responsibility for financing innovation?
Share your opinions and questions in the comments. We welcome your contributions to discussions about Africa’s technology and financial future.
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Gideon is a Cameroonian-born tech enthusiast who has been actively involved in web3 and blockchain development in Africa for over 5 years. He is a CAN News reporter, covering articles on web3, blockchain, cryptocurrency, and other related topics within the continent.
