From Moshood Karim
Zenith Bank has injected more than ₦140 million into Nigeria’s next generation of tech entrepreneurs, as its flagship Tech Fair 5.0 crowned top-performing start-ups and hackathon teams, sharpening the country’s ambitions to become a continental technology powerhouse.
The fifth edition of the annual event brought together industry leaders, government officials, investors, students and tech enthusiasts, underscoring Nigeria’s growing profile in the global digital economy and intensifying competition for leadership in Africa’s innovation race.
Founder and Chairman of Zenith Bank, Mr Jim Ovia, described young innovators as the backbone of Nigeria’s digital future, warning that countries failing to embrace emerging technologies risk being left behind. He urged youths to master artificial intelligence, big data and advanced digital tools, reaffirming the bank’s long-term vision of helping Nigeria cultivate its own “Silicon Valley” across sectors including technology, agriculture and entertainment.
Group Managing Director and Chief Executive Officer of Zenith Bank Plc, Dame (Dr) Adaora Umeoji, used the platform to highlight the bank’s market strength, announcing that the institution has remained the most profitable bank in Nigeria, with Tier-1 capital leadership sustained for 16 consecutive years. She outlined investments in ICT infrastructure, upgraded banking software and the AfCFTA smart portal, designed to accelerate seamless trade across Africa.
Government leaders leveraged the forum to signal policy alignment with private-sector innovation drive. Speaking for the Niger State Governor, the Head of Service, Abubakar Sadiq Idris, said digital skills, automation and innovation were now essential tools for efficient public service delivery and youth empowerment. Lagos State Governor Babajide Sanwo-Olu, in a goodwill message, pledged to scale up technology initiatives, committing to train 50,000 tech talents and position Lagos as a global innovation hub by 2050.
International technology leaders added global perspective to the event. The Managing Director of M-PESA Africa outlined how mobile financial services have deepened financial inclusion for over 60 million users across the continent. Jonas Kjellberg, co-creator of Skype, stressed the importance of customer-focused innovation and strong entrepreneurial culture, while Dr Shivagami Gugan of Amazon Web Services (MEA) addressed ethical use of technology, cloud computing and bridging Africa’s digital divide.
At the heart of the fair were intense competitions showcasing Nigeria’s brightest talents. From 1,586 business pitch submissions, five teams advanced to the final stage. The hackathon attracted 492 teams, narrowed to 25, and finally five finalists. Team Trustu emerged as overall hackathon champion, securing 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.
Business pitch winners reflected the breadth of Nigeria’s innovation ecosystem, ranging from education technology and women’s health to SME financing and retail importation. Finalists included Cubbes (Peter Adeyemi), Venille (Esther Oluwabunmi Olamide), Sowota (Franklin), InvoPay (Bertrand) and FLOW (Morayo), with grants designed to help them scale commercially viable solutions.
Dame Umeoji disclosed that more than 10,000 young entrepreneurs have benefited from the Tech Fair initiative since inception, with several participants now operating global businesses, reinforcing Nigeria’s capacity to export world-class innovation.
The event closed with master classes delivered by McKinsey, Huawei, Check Point and Microsoft, focusing on artificial intelligence, cloud infrastructure, cybersecurity and startup growth. Dr Adaobi Nwapa delivered the vote of thanks, recognising the collaboration between Zenith Bank, government partners, global speakers and participants.
The scale of funding and institutional backing signals a deeper shift in Nigeria’s economic strategy — from commodity dependence towards technology-driven growth. For Nigeria’s job-hungry youth population, the Tech Fair is fast becoming a launchpad into the global digital value chain, while policymakers face growing pressure to match private-sector ambition with stronger digital infrastructure and regulatory support.
As the curtains fell on Tech Fair 5.0, Zenith Bank reiterated its commitment to sustained investment in innovation, mentorship and infrastructure, a bet that Nigeria’s future economic relevance will be written not in oil output, but in code, creativity and the courage of its young entrepreneurs.
