Zenith Bank Champions Tech Innovation with N77.5 Million in Start-up Funding at Tech Fair 4.0

From Moshood Karim

Zenith Bank Plc has once again demonstrated its commitment to fostering innovation and empowering young entrepreneurs by awarding a total of N77.5 million to ten start-ups during the hackathon finale at the Fourth Zenith Tech Fair held on November 21, 2024, at the Eko Convention Centre, Lagos.

Themed: “Future Forward 4.0: Embedded Finance, Cybersecurity & Growth Imperatives – The Impact of AI,” the event showcased ground-breaking ideas from Nigeria’s brightest tech minds.

The hackathon featured over 1,700 participants, with JumpnPass, a self-checkout technology solution revolutionizing retail in Africa, clinching the grand prize of N25 million. The start-up also secured a six-week mentorship and incubation programme running from December 2024 to February 2025 to support its growth and scalability.

CreditChek, an AI-powered credit verification platform, won the N20 million first runner-up prize, while Salad Africa, a seamless credit integration service for digital platforms, took home N15 million as the second runner-up. Other finalists, including Regxta, CashAfrica, Middleman, Messenger, Pocketfood, Famasi Africa, and Kitovu, each received N2.5 million to advance their innovations.

In her opening address, the Group Managing Director/CEO of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, commended the Founder and Chairman, Dr. Jim Ovia, CFR, for his vision in initiating the Tech Fair. “This platform was designed to empower Nigeria’s youth, who make up 70% of our population, transforming them into global innovators like Bill Gates and Elon Musk,” she remarked. Umeoji emphasised the critical role of innovation in sustaining businesses, stating, “When companies fail to innovate, they risk displacement. For us, innovation is non-negotiable.”

The event also featured keynote addresses, panel sessions, and the unveiling of Zenith Bank’s new digital wallet, EazyByZenith, aimed at driving financial inclusion and retail banking.
Robin Speculand, a renowned Strategy and Digital Implementation Specialist, delivered a keynote speech on “Banking Transformation in a Digital World,” while Lagos State Governor Babajide Sanwo-Olu highlighted the importance of scaling local innovations to compete globally.

In his goodwill message, Dr. Jim Ovia reiterated the bank’s commitment to nurturing the tech ecosystem, stating, “Zenith Bank will continue to create opportunities for start-ups to access the resources and mentorship they need to succeed.”

The Tech Fair also attracted notable industry leaders, including Vice President Kashim Shettima, represented by Dr. Tope Fasua, and global experts like Danilo McGarry (Digital Transformation Specialist) and Jania Okwechime (AI & Data Leader, Deloitte).

With its robust focus on sectors like embedded finance, cybersecurity, healthtech, and agritech, the Zenith Tech Fair 4.0 has solidified its position as a pivotal platform for advancing Nigeria’s tech ecosystem and driving economic growth through innovation.