Ecobank Nigeria has reaffirmed its commitment to youth empowerment, innovation and entrepreneurship with the successful hosting of the grand finale of the InnovateX Hackathon, its flagship innovation challenge powered by Blaze by Ecobank in partnership with Heave Ventures and Verve.

Held in Lagos on Friday, the competition brought together some of Nigeria’s brightest undergraduate innovators, culminating in the emergence of Team Vhorde as the overall winner. Other top-performing teams were E-Nation (first runner-up), Konvoy (second runner-up), Kredo (third runner-up), and Aselabs (fourth runner-up).

All 20 finalist teams received cash prizes in recognition of their innovation and outstanding performance. Team Vhorde received N5 million, while the first and second runners-up were awarded N4 million and N3.5 million respectively. Even the team placed 20th received N500,000, reflecting Ecobank’s commitment to encouraging innovation at every level. In total, the Bank distributed N22 million in prize money to the finalists.

The grand finale marked the culmination of a rigorous innovation journey that attracted 168 teams comprising 672 students from 90 universities across Nigeria. Following a highly competitive selection process, 20 finalist teams drawn from Lagos, Port Harcourt and Abuja advanced to the final stage, where they pitched innovative solutions addressing challenges across multiple sectors.

Speaking at the event, Kola Adeleke, Executive Director, Commercial and Consumer Banking, Ecobank Nigeria, said the InnovateX Hackathon was established to provide a platform for young Nigerians to transform ideas into practical solutions capable of addressing real-world challenges. “InnovateX was created to give young Nigerians a platform to transform ideas into practical solutions to real-world challenges across banking, technology, business and society. The diversity of ideas emerging in areas such as financial technology, artificial intelligence, sustainability, digital services, education and enterprise solutions demonstrates the breadth of innovation taking place among our young people.”

According to Adeleke, the initiative goes beyond identifying winners. “Our objective goes beyond identifying winners. We want to help nurture ideas, develop entrepreneurial capabilities and connect promising innovators with the resources, mentorship and networks they need to succeed.”

He further emphasized Ecobank’s commitment to developing the next generation of innovators and entrepreneurs. “At Ecobank, we recognise that young people are not merely the leaders of tomorrow; they are innovators, entrepreneurs and contributors to economic growth today. As a pan-African bank, we believe that digital transformation and innovation are essential to expanding opportunities, improving access to financial services and creating sustainable economic value.”

Also speaking, Victor Yalokwu, Head, Products and Analytics, Ecobank Nigeria, described InnovateX as an extension of Blaze by Ecobank’s commitment to empowering young Nigerians. “The InnovateX Hackathon is driven by Blaze, our dedicated youth proposition that serves as a vehicle for young people to express their talents, ideas and abilities to drive economic growth. Through Blaze, we continue to create opportunities that empower the next generation of innovators and entrepreneurs.”

Yalokwu highlighted other youth-focused initiatives under Blaze, including the Campus Ambassadors Programme, which provides students with stipends and opportunities to develop leadership and entrepreneurial skills while serving as brand ambassadors on their campuses.

He noted that all 20 finalist teams were rewarded for their creativity, resilience and innovation, with Ecobank committing N22 million in prize money to support the participants and encourage the growth of their ideas.

Speaking on behalf of the winning team, Henry Uti of Team Vhorde expressed appreciation to Ecobank and its partners for creating the opportunity.

“Winning the InnovateX Hackathon is both an honour and a huge motivation for our team. This platform has shown us that young Nigerians have the creativity and capacity to build solutions that can transform industries and improve lives. We are grateful to Ecobank, Blaze, Heave Ventures and Verve for believing in young innovators and providing an opportunity to showcase our ideas.”

The InnovateX Hackathon forms part of Ecobank’s broader strategy to support innovation, entrepreneurship and digital transformation by providing young Nigerians with access to funding, mentorship, industry exposure and growth opportunities.

Wema Bank, Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has announced November 6, 2026, as the date for the grand finale of Hackaholics 7.0, its flagship innovation platform.

Themed “Festival of the Future.” The grand finale will bring together innovators, technology leaders, startup founders, investors and other key players in Nigeria’s innovation ecosystem for an immersive celebration of ideas, technology and the possibilities shaping the future.

Beyond the much anticipated announcement of this year’s Hackaholics Finalists, the event will feature innovation showcases, interactive experiences and conversations exploring how emerging technologies are transforming the way people live, work, build and create.

Designed to go beyond the traditional innovation competition, the Festival of the Future will provide a platform for participants and attendees to experience emerging technologies, discover innovative solutions, connect with industry players and engage in conversations about the opportunities and challenges of a rapidly evolving world. The event will also recognise and celebrate outstanding innovators whose ideas have demonstrated the potential to address real-world challenges and create meaningful impact.

Speaking on the significance of the grand finale and the inspiration behind the Festival of the Future, Wema Bank’s MD/CEO, Moruf Oseni, explained that the concept builds on the Bank’s commitment to creating a future of possibilities while encouraging Nigerians to take a more active role in shaping that future.

“The world is changing at an unprecedented pace. Artificial intelligence and emerging technologies are transforming industries, businesses and everyday life, creating opportunities that would have been difficult to imagine just a few years ago. The question is no longer simply what the future holds, but how prepared we are to shape it.

“This thinking inspired the Festival of the Future. We want to create an experience that brings innovation closer to people, encourages meaningful conversations and challenges us to think differently about how we will live, work, build and create in the years ahead,” he said.

Reaffirming Wema Bank’s commitment to supporting innovation and empowering young Nigerians, Oseni noted that Hackaholics has continued to evolve beyond a competition into a platform for discovering talent, nurturing ideas and connecting innovators with opportunities.

“Since we launched Hackaholics, our goal has remained consistent; to provide young Nigerians with the platform, resources, opportunities and support they need to transform their ideas into practical solutions. We believe that the future of innovation in Nigeria must be driven by the talent, creativity and potential of our people.

“With Hackaholics 7.0, we are taking that commitment further. Beyond recognising outstanding ideas, we want to bring together the people, conversations and experiences that can inspire the next generation of solutions. Our ambition is to continue building an ecosystem where innovation thrives, possibilities are unlocked and Nigeria is better positioned for the future,” he added.

Launched on July 1, 2026, under the theme “Powering Possibilities,”Hackaholics 7.0 commenced with a nationwide pitch centre tour designed to discover and support innovative ideas from young Nigerians across different regions of the country.

The four-month tour attracted 5,329 participants and 1,632 innovative ideas and solutions, with pitch centres hosted across seven locations: Uyo, Kano, Yabatech, Benin, Ibadan, Enugu and Lagos.

Through three distinct tracks; the Ideathon, Hackathon and Social Impact, the initiative provided opportunities for students, graduates, technology enthusiasts, developers and social innovators to present solutions addressing challenges across different sectors. The Ideathon focused on promising ideas, the Hackathon provided a platform for technology developers and builders, while the Social Impact track recognised solutions designed to deliver measurable value to society.

At the conclusion of the nationwide tour, 59 participants emerged from the various pitch centres, reflecting the diversity of ideas, talent and innovation discovered throughout the programme.

As Hackaholics 7.0 progresses towards its final stage, the 59 finalists will be further shortlisted to 20, who will present refined versions of their solutions at the Pre-Pitch scheduled for November 4, 2026.

On November 5, the participants will embark on an Ecosystem Tour powered by Wema Bank, providing an opportunity to visit other top institutions within the technology and innovation ecosystem, interact with industry professionals and gain practical insights ahead of the grand finale.

The journey will culminate on November 6 at the Festival of the Future, where the top innovators will be recognised and celebrated.

Through Hackaholics, Wema Bank continues to demonstrate its commitment to driving innovation, supporting entrepreneurship and creating opportunities for young Nigerians to contribute meaningfully to economic development.

Boost Africa, a joint initiative of the European Investment Bank (EIB) and the African Development Bank (AfDB), supported by the European Union, is launching “From Capital to Impact,” a communications campaign highlighting the achievements of the initiative and the experiences of innovative Nigerian businesses supported through its venture capital investments.

Running from 1 November to 31 December 2026, the campaign will bring the impact of
Boost Africa closer to the public through entrepreneurial success stories, investment
insights, digital storytelling and media engagement.

Launched to address financing challenges facing innovative African businesses, Boost Africa has helped strengthen the continent’s venture capital ecosystem by investing in funds that provide financing and strategic support to promising startups and growing enterprises.

The initiative demonstrates how development finance can help mobilise private investment and enable businesses to develop solutions, expand operations, reach new markets and create employment opportunities.

Putting Businesses and People Behind the Numbers

At the heart of the campaign are stories of Nigerian businesses whose growth journeys
illustrate the wider impact of investment.

The campaign will feature companies including Daya, ChipMango and TradeDepot, highlighting their innovations, entrepreneurial journeys and experiences working with venture capital funds supported by Boost Africa.

From developing cross-border financial infrastructure to strengthening digital commerce and creating opportunities for technology talent, these businesses demonstrate how investment can support solutions to real economic and societal challenges.

Through founder interviews, beneficiary success-story videos, digital content and editorial features, the campaign will explore not only the financing received by businesses but also the expertise, networks and strategic support that help them grow.

From Investment to Measurable Impact

Boost Africa’s achievements extend beyond the capital committed to venture funds.

According to EIB-reported results as of December 2023, the initiative had invested €88 million, supported approximately 15,000 jobs and helped mobilise nearly €400 million in additional investment across Africa.

These figures illustrate the potential of development finance to catalyse private investment and strengthen the businesses contributing to Africa’s economic transformation.

The campaign will connect these broader achievements with the experiences of Nigerian entrepreneurs, investors, employees and customers, demonstrating how investment translates into tangible opportunities.

Amplifying Africa’s Entrepreneurial Success Stories

The From Capital to Impact campaign will feature a coordinated programme of social media storytelling, video documentaries, thought-leadership articles and online media publications.

It will also provide perspectives from venture capital fund managers on the importance of patient capital, technical expertise, business networks and investment partnerships in helping African enterprises scale.

By making investment outcomes more visible and accessible, the campaign aims to
strengthen public understanding of Boost Africa’s contribution to entrepreneurship,
innovation and sustainable economic development.

The central message is simple: the true value of investment is reflected not only in the capital deployed, but in the businesses strengthened, opportunities created and
impact made possible.

About Boost Africa

Boost Africa is a joint initiative of the European Investment Bank and the African
Development Bank, supported by the European Union. The initiative promotes
entrepreneurship and innovation across Africa by supporting venture capital funds investing in innovative startups and growing businesses, alongside complementary technical assistance and ecosystem support.

Media Contact

European Investment Bank
Press Office
press@eib.org
www.eib.org