Zenith Bank: Empowering Africa’s Brightest Innovators with N140m

EMPOWERMENT

Africa’s young innovators are brimming with bold ideas, yet many struggle to access the funding and support needed to scale their solutions. At the recently held Tech Fair 5.0, Zenith Bank bridged this gap, empowering the continent’s brightest minds with N140 million to transform groundbreaking concepts into real impact and future-ready enterprises, writes Nume Ekeghe

Africa’s tech ecosystem is brimming with ideas, yet many brilliant innovations struggle to find funding and mentorship. Young innovators often face hurdles turning prototypes into scalable solutions, leaving transformative ideas unrealised.

The pressure to compete globally adds urgency for platforms that nurture talent and provide real-world support. Recognising this gap, Zenith Bank stepped in, awarding N140 million to the brightest minds at Tech Fair 5.0, giving them the resources to turn vision into impact. This support was not just funding, but a lifeline for young creators striving to solve Africa’s toughest challenges. And for many of these innovators, it marks the beginning of a journey that could reshape industries and redefine the continent’s digital future. Their stories reflect a generation determined to build solutions that matter, despite the odds stacked against them. With Zenith Bank’s intervention, their dreams now stand a real chance of becoming the breakthroughs Africa needs.

In all, the total cash prize of N140 million was awarded to 10 African innovators to scale their transformative solutions after a keenly contested hackathon and pitch session at the Fifth Edition of the Zenith Tech Fair, themed “Future Forward 5.0: Tech for Success – Innovate, Adapt, Accelerate”, which held recently in Lagos.

The 2025 edition of the Zenith Tech Fair featured an expanded, dual-competition structure that included a high-stakes Hackathon for product development and a Startup Pitch Competition for early-stage ventures, and drew participation from thousands of developers, founders, and entrepreneurs across the continent.

The prize money was shared among ten finalists who emerged from the over 2,000 contestants that took part in the Zecathon. In the hotly contested final, two major winners emerged, each receiving the top prize of N30 million.

The winner of the Hackathon, Trust Loop, clinched first place for its innovative solution that delivers seamless digital KYC and liveness verification. Simultaneously, the winner of the Startup Pitch Competition, Cubbes Technologies Limited, secured the top spot for its revolutionary AI-powered EdTech platform that enhances learning and career readiness.

The remaining eight finalists across both categories were equally recognised, each receiving N10 million in non-dilutive funding. They include Venille Ltd, Sowota, FLOW, InvoPay, Zenith Intelliscore, The Very Hacked Men, Konfam and Zerax. All ten finalists will also be entitled to a six-week mentorship and incubation programme designed to help them grow and scale effectively, and this will run from December 2025 to February 2026.

The Group Managing Director/CEO of Zenith Bank Plc, Dame Dr Adaora Umeoji, OON, in her welcome address, thanked the Founder & Chairman, Dr Jim Ovia, CFR, for the visionary foresight that led to the creation of the Zenith Tech Fair.

Commenting on the Zecathon, she said, “Our theme this year, ‘Tech for Success: Innovate, Adapt, Accelerate’, is very timely.

To appreciate its urgency, it helps to reflect on the speed of human progress. According to the Harvard Business Review, it took humanity millions of years to master fire, yet only 66 years to move from the first powered flight to landing on the moon. The lesson is simple – the next technological breakthrough will not take a lifetime. It will emerge sooner than we expect and could come from any one of you in this room today. We are confident that this Tech Fair will produce innovators who will change the world, and we stand ready to support you to turn your ideas into reality.”

In his goodwill message, Ovia said, “This fifth edition reflects our unwavering commitment to create value through technology, innovation, and talent development. My vision is to continue to empower the youth through technology, with the hope that one day we will produce the likes of Bill Gates, Steve Jobs and Jeff Bezos.”

Whilst delivering his goodwill message, the Governor of Lagos State, Mr. Babajide Sanwo-Olu, called for increased technological empowerment initiatives to provide youths with adequate opportunities needed to thrive in the digital future.

He said, “What I see happening here every year are things that we in leadership need to connect with. This is an activation that can bring life and real conversation to the young, dynamic, innovative, and creative young people that we have in this country. By 2050, half of the youth population in the world will be in Africa, and even in Africa, they will be in Nigeria, and if they are in Nigeria, they will be somewhere in Lagos, and we need to be able to fish them out. We need to give them an opportunity and a space to fly. We want to make Lagos the human capital centre of the world, where Microsoft and Google will think of raising a million tech experts. That’s the kind of vision and opportunity we want to leave behind.”

Hailed as a resounding success by participants, the Fair showcased cutting-edge demonstrations on the role of Generative AI, Agentic AI, and Cloud Computing in driving economic growth with Keynote addresses delivered by Sitoyo Lopokoiyit, Managing Director, M-PESA Africa; Jonas Kjellberg, Co-Creator, Skype and Dr. Shivagami Gugan, Chief Technologist for Middle East, Turkey and Africa, AWS.

The event also featured goodwill messages by the National Commissioner, Nigeria Data Protection Commission, Dr. Vincent Olatunji, and the Governor of Niger State, His Excellency, Governor Mohammed Umaru Bago, ably represented by the Head of Service, Niger State, Mr. Abubakar Sadiq Idris.

Another key feature from the tech fair this year was the robust exclusive masterclasses delivered by global technology and consulting powerhouses: McKinsey & Company, Huawei, Check Point, and Microsoft. These sessions covered critical topics from cybersecurity to advanced cloud solutions and disruptive technologies, equipping participants with world-class insights.

Aside from the thrilling musical performance by Nigerian musician Spyro, the fair also featured dual-panel sessions that were very insightful and highly interactive. The panel sessions both had Zain Asher, CNN Anchor, as host, and featured high-level discussants including Adaora Nwodo, Founder & Executive Director, NexaScale; Aisha Tofa, Board Chair, Startup Kano Centre for Innovation Dev.; David Kpakima, Co Founder, Rasab Group, Sierra Leone; Dr Stanley Jacob, President, FINTECHNGR; Iyinoluwa S. Aboyeji, CEO Future Africa; Gary Fowler, CEO & Founder GSD Venture Studios; Bradwin Roper, Chief Payments & Partnerships Officer at JUMO, and Mrs. Omoyemen A. Jide Samuel, Director, Information Technology, CBN.

In 2024, a total of N77.5 million in prize money was won at the end of a keenly contested hackathon session at the Fourth Edition of the Zenith Tech Fair. Then, the prize money was shared among ten finalists who emerged from the over 1,700 contestants that took part in the hackathon, with JumpnPass, a self-checkout technology solution reshaping the retail landscape in Africa emerging as the overall winner and taking home the grand prize of N25 million. This was in addition to a six-week mentorship and incubation program designed to help them grow and scale effectively, which ran from December 2024 to February 2025.

Also, in 2024, the first runner-up, CreditChek, a credit and verification service provider which leverages AI and open banking to streamline income and credit history verification for financial institutions, won N20 million and a mentorship programme, while the second runner-up, Salad Africa, a start-up which offers seamless integration of credit products for digital platforms and software companies won N15 million as well as a mentorship programme. Other finalists who took home N2.5 million each include Regxta, CashAfrica, Middleman, Messenger, Pocketfood, Famasi Africa, Kitovu. This is a reflection of the bank’s commitment to supporting start-ups and fledgling entrepreneurs.

Zenith Bank remains committed to fostering an ecosystem where innovation thrives, ensuring that the next generation of African tech leaders have the capital, mentorship, and resources required to achieve global scalability and impact.

Zenith Bank has continued to blaze the trail in digital banking in Nigeria, scoring several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its teeming customers.

The bank is verifiably a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-of-the-art technologies in banking.

Today, the bank is globally celebrated as a relentlessly forward-thinking institution, consistently setting the benchmark for digital banking across the Nigerian and African banking sectors, according to a report by International Banker.

Built upon the three principles of people, technology and service, the optimisation of experience and satisfaction across its vast customer base inspires Zenith Bank’s digitalisation strategy, which delivers innovative solutions that are consistently ahead of the local competition.

The bank can proudly boast of having deployed several firsts in cutting-edge offerings that continuously satisfy evolving customer preferences and are thus pioneering the digital-banking revolution transpiring across the country—and, indeed, the continent—at present.

These innovations include the deployment of the first offsite automated teller machine (establishing an ATM in a location outside the bank’s premises in 2003), real-time online banking across its entire branch network, transaction notifications via SMS (Short Message Service) and email, an online payment gateway and QR (quick-response) code payment system.

Today, some of its internet banking solutions include the *966# Banking, which is a convenient, fast, and secure way for its customers to access their bank account and perform banking transactions via non-smartphone without internet connectivity. This service is available to all individual account holders with any feature phones that run on the GSM platform.

Also, the Zenith Bank Mobile App enables customers to get access to their accounts 24 hours a day from wherever you are. A quick download of the mobile banking app can transform customers’ smartphone into a powerful banking tool. The Zenith Bank’s Mobile App is a dual functionality app which bundles Mobile Banking and eaZymoney.

The bank’s track record of excellent performance has continued to earn the brand numerous awards across the world.

Clearly, Zenith Bank’s investment goes beyond prize money, but remains as a catalyst for unlocking Africa’s next generation of tech leaders. By backing bold ideas with meaningful support, the bank is helping shape a future where young innovators can build solutions that uplift communities and transform the continent.