Wema Bank Partners With Southwest Governors to Boost Food Security
Wema Bank Plc has reaffirmed its commitment to collaborating with governors in the Southwest to drive food security through technology and innovation. The bank aims to enhance local agricultural ecosystems by addressing inefficiencies and improving market access for smallholder farmers.
Speaking at a press briefing for the sixth edition of its Hackaholics initiative, Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, highlighted the bank’s dedication to fostering innovative solutions in agriculture and other key sectors. He noted that the program seeks to identify startups with viable technological solutions to challenges in the food system and beyond.
Mabawonku emphasized that Hackaholics has become a transformative force in the economy, promoting sustainable business practices and attracting investment in technology-driven solutions. Through collaboration with other organizations, the initiative aims to enhance knowledge-sharing and cross-border partnerships while strengthening Nigeria’s agricultural sector.
Wema Bank has already provided grants totaling $300,000 to 18 startups from previous editions of Hackaholics. During last year’s grand finale, Wema Bank’s Managing Director and CEO, Moruf Oseni, announced an increase in the prize pool from N75 million to N145 million. He reiterated the bank’s commitment to supporting youth innovation, stating, “Our goal extends beyond banking the youth; we want to help them build successful futures.”
Oseni also called on corporate organizations to invest in sustainable initiatives, particularly in science, technology, engineering, and mathematics (STEM), stressing that no nation advances without prioritizing these fields. He urged both private and public stakeholders to support tech-driven innovations that could propel Nigeria toward economic greatness.
With Hackaholics serving as a platform for breakthrough ideas, Wema Bank is positioning itself at the forefront of technological transformation in Nigeria’s food and agricultural industries.
