Nigeria’s digital bank ALAT by Wema has opened application entries for the fourth edition of its hackathon program, with the theme, “Hackaholics 4.0 ‘Re-imagine’.

Announcing the commencement of entries for the program, the bank’s executive director, Digital services, Mr. Tunde Mabawonku said that just as the bank is constantly innovating by refining banking with ALAT, it is also poised to help individuals and organizations to innovate to make the country better.

In his words,

“Just as we redefined experiential banking with ALAT, Hackaholics is at the heart of our innovative project for startups. We are poised to host the largest campus hackathon this year. As we plan the next eight decades of Wema Bank, we need to innovate and help encourage others to innovate. We try to get the best and brightest and give the country ideas on how to transform our organizations to become world-class”.

Also speaking on the commencement of this year’s edition, the bank’s Chief Digital Officer Mr. Olusegun Adeniyi said the bank has successfully disrupted the digital banking ecosystem by producing the first digital bank and creating unique experimental banking with ALAT. He added that the hackathon program has been driven by the mindset of innovation.

This year workaholics 4.0 was launched with a push to bring together 10,000 young innovators from across Nigeria as well as Africa, with a mission to investigate the endless possibilities in emerging technologies while utilizing its neo-bank proposition to significantly expand the student and youth eco-system.

The bank plans to produce 5,000 solutions, create six pitch centers, and have almost one million footfalls during the campaign. For this year, the winner takes home N3,000,000 First runner-up N2,500,000, and Second Runner-up N1,500,000.

To cover more grounds regarding societal problems, this year’s Hackaholics edition is expanding its scope and exploring more verticals, which include Education, Climate, civic tech, Insurance, GovTech, Health, Gender-Based Violence, Fintech, Financial Inclusion, and Entertainment.

Participants can be part of this year’s Hackaholics 4.0 by registering on the website, to Join a diverse group of problem-solvers, developers, designers, and creative thinkers at this year’s edition to make a difference.

Application Process

Steps to follow

1. Click register now on the workaholic’s website
2. Input your solution details and information
3. Input your team members’ details
4. Submit your application and await your email.

Benefits Participants stand to gain

Hackaholics is a great opportunity for participants to learn and experiment. They stand to benefit  from the following ;

• Grand to build/ scale solutions
• Support for product and integration
• Visibility for your team/ solution
• Access to community of founders
• Coaching/ Mentorship for founders
• Learn from renowned industry expert

Investors King understands that as a way of honoring its commitment to inclusivity, women-led teams will be given recognition and rewards in this year’s edition.

Digital bank Opay has announced the reopening of its Lagos offices on Monday, March 20th, following a temporary closure due to the ongoing election.

Despite the slight adjustment to its business hours, Opay has been one of the most reliable financial institutions for many Nigerians, providing efficient electronic money transfers and other financial services.

In a statement released by the company, it said, “Our Lagos offices will not be open to customers today; (Friday 17th March) due to the upcoming elections in the state, however, all offices in other cities will be open for business.”

The company also encouraged customers to use its alternative channels, which will be available and accessible to them. This move is in line with Opay’s commitment to ensuring uninterrupted service delivery to its customers.

As the banking sector in Nigeria continues to evolve, digital banks like Opay are taking center stage with their innovative services, which are tailored to the needs of the average Nigerian.

With its reopening, Opay continues to solidify its position as a reliable and efficient financial institution that can be trusted to meet the needs of its customers.

Ride-hailing mobility company Bolt has rolled out plans to offer drivers in Nigeria the opportunity to earn extra income through its car branding initiative.

In a message sent to drivers, the company wrote,

“We are pleased to inform you about a unique opportunity to earn extra income through our car branding initiative. We are looking for drivers who are interested in advertising our brand on their vehicles.

“In exchange, you will receive weekly compensation for displaying our logo while you go about your normal driving routine. It’s a simple and easy way to earn extra cash.”

While this might seem like a good initiative, the President of the NLC-backed and government-approved Amalgamated Union of App-based Transport Workers Union (AUATWN) Comrade Ibrahim Ayoade disclosed that car branding may not be safe for Nigerian drivers concerning the high rate of insecurity in the country.

He said, “Branding cars may not be safe at the moment because of insecurity. Many app drivers will be in serious danger as they will always be targeted in case of any problems around the town”.

Investors King understands that Bolt has always sought ways to enable its drivers to earn extra income. In 2021, the ride-hailing company launched a Vehicle financing scheme in Nigeria to enable drivers own a car with as low as a 15% equity repayment plan. This plan was initiated to make life easier for drivers, increase employment rates and subsequently improve the economy.

With the Bolt Vehicle financing scheme, drivers can get a car for as low as ₦15,000 weekly installments, in addition to comprehensive insurance and vehicle tracking support. The Vehicle financing scheme will enable drivers maintain flexible work hours while increasing their income.

Reports also reveal that the ride-hailing firm in January this year, stated that it intends to inject €500m funds into its African operations in the next two years, following the increase in the demand for its services despite the harsh economic challenges.

According to the company, it hopes to create opportunities for over 300,000 new drivers and couriers to join the platform in 2023.