Zenith Bank Champions Tech Innovations

…. Empowers Young Entrepreneurs With Over 140 Million 

By Joseph Sunday 

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Zenith Bank’s fifth edition of the annual Tech Fair 2025 has once again showcased the innovative spirit of Nigerian youths, awarding over ₦140 million in grants to the most outstanding Zecathon and hackathon teams for the 5.0 event.

The event brought together industry leaders, government officials, tech enthusiasts and students; highlighting Nigeria’s growing prominence in the global digital economy and technology.

Mr. Jim Ovia, Founder and Chairman of Zenith Bank, emphasized the critical role of young innovators in shaping Nigeria’s digital future. “The world has gone fully digital, and Nigeria is rapidly following suit,” he said. 

He stressed that the bank is committed to supporting outstanding innovations across sectors like technology, agriculture, and entertainment, and envisioning a future where Nigeria can build its own Silicon Valley. 

Ovia urged youths to embrace artificial intelligence, big data, and emerging technologies to modernize the economy.

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In her own address, the Group Managing Director / CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, highlighted the bank’s growth into the most profitable financial institution in Nigeria, with Tier-1 capital leading the sector for 16 consecutive years. 

She underscored Zenith Bank’s investments in ICT centers, upgraded banking software, and the AfCFTA smart portal to facilitate seamless trade across Africa. 

Umeoji encouraged young innovators to pursue bold ideas, citing local and global success stories such as Flutterwave, Andela, PiggyVest, and Steve Jobs.

The Zenith Bank 5.0 Tech Fair also featured government representatives who reinforced the importance of technology in economic growth.

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Speaking on behalf of the Niger State Governor, Mohammed Umaru Bago; the

Head of Service, Abubakar Sadiq Idris  emphasized that digital skills, automation, and innovation are vital for public service delivery and youth empowerment. 

The Lagos State Governor, Babajide Sanwo-Olu giving his goodwill message, stressed that Nigeria must scale up technology initiatives to harness the creativity of its young population, committing to train 50,000 tech talents and position Lagos as a global hub for innovation by 2050.

The three keynote speakers provided global perspectives on technology and entrepreneurship. 

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The Managing Director of M-PESA Africa, shared insights on mobile financial services driving inclusion across the continent, with M-PESA serving over 60 million users. 

Jonas Kjellberg, co-creator of Skype, emphasized building innovative products, understanding customers, and fostering entrepreneurial cultures. 

Dr. Shivagami Gugan, Chief Technologist at Amazon Web Services for MEA, discussed ethical technology use, AI, cloud computing, and bridging the digital divide, highlighting practical applications that improve lives.

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The event’s competitions showcased Nigeria’s brightest young talents. From 1,586 business pitch participants, five top teams were selected. 

The 5.0 hackathon began with 492 teams, was shortlisted to 25, and then narrowed to five finalists. 

Team Trustu emerged as the hackathon champion, winning a ₦30 million grant. Four runners-up, Team Confam, Team Noveric HackTors, Team Zenith Bank Techs Core, and Team Zera X, each received ₦10 million. 

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Business Etecha finalists received similar support to scale their innovative solutions.

Top business pitch finalists included Cubbes (Peter Adeyemi, Edutech solution for university learning), Venille (Esther Oluwabunmi Olamide, women’s health and reproductive education), Sowota (Franklin, retail solution for importation), InvoPay (Bertrand, digital invoice financing for SMEs), and FLOW (Morayo, Edutech platform). These startups demonstrate the diversity and potential of Nigeria’s innovation ecosystem.

Dame Umeoji further emphasized that Zenith Bank Tech Fair is designed to mentor, identify, and finance future inventors. “To date, over 10,000 young entrepreneurs have benefited from the initiative, with many expanding globally”. 

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She urged participants to listen, learn, and innovate, reminding them that the global success of Nigerian startups proves that world-class solutions can originate locally.

The Tech Fair concluded with four master classes facilitated by McKinsey, Huawei, Check Point, and Microsoft, providing practical guidance on AI, cloud computing, cybersecurity, and entrepreneurship. 

Dr. Adaobi Nwapa delivered the vote of thanks, recognizing the dedication of Zenith Bank staff, government partners, speakers, and participants who contributed to the event’s success.

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As the event drew to a close, participants were urged to apply lessons learned, continue innovating, and prepare for future editions. 

Zenith Bank reiterated its commitment to nurturing Nigeria’s next generation of digital leaders by continually innovate to exist, adapt to scale, and accelerate to succeed. “With government support, global expertise, and a thriving pool of young talent, Nigeria’s technology landscape is poised for unprecedented growth”, Umeoji said. 

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