Zenith Bank gives N190m to 13 African innovators at tech fair

Zenith Bank Plc has rewarded 13 innovators with a total of N190 million at the sixth edition of its flagship Zenith Bank Tech Fair, reinforcing its commitment to promoting innovation, accelerating digital transformation, and supporting Africa’s next generation of technology entrepreneurs.

The event, themed “AI: Embrace or Extinct,” was held virtually on Thursday, November 5, 2026, and attracted technology leaders, entrepreneurs, policymakers and innovators from across the world to discuss the growing impact of Artificial Intelligence (AI) on businesses and society.

Zenith Bank said the N190 million prize, the largest since the inception of the Tech Fair, reflects its increasing investment in technology-driven innovation.

The 2026 edition featured three competitions — the Hackathon, Startup Pitch Competition and the newly introduced Future Innovators Challenge — attracting more than 3,000 entries from developers, startups and secondary school students.

In the Hackathon category, Team Solo emerged winner and received N35 million, while 10x Brains won N20 million. Rumour Hunters claimed third place with N15 million, while Òmìnira and Team Avera received N10 million each for finishing fourth and fifth.

Cutstruct Technology Limited won the Startup Pitch Competition, taking home N35 million. Sproutly came second with N20 million, PharmaRun secured N15 million, while AUI BRAND and ProDevs each received N10 million.

In the Future Innovators Challenge, introduced to encourage innovation among secondary school students, Caleb British International School won the top prize of N5 million. Queen of the Rosary College, Onitsha, received N3 million for finishing second, while Regina Pacis International School claimed N2 million.

According to the bank, the winning solutions addressed challenges across construction, education, healthcare and financial technology.

Cutstruct’s LiveVend platform simplifies construction procurement, Sproutly digitises school fee payments, PharmaRun improves access to genuine medicines through partner pharmacies, while Caleb British International School’s ReLearn platform promotes the redistribution of used textbooks to underserved students.

Beyond the cash prizes, the winners will undergo a six-week mentorship and incubation programme designed to strengthen their business models and help scale their innovations.

The Founder of Zenith Bank Plc, Jim Ovia, said the initiative aligns with his vision of empowering young Nigerians through technology.

“My vision is to continue empowering young people through technology, with the hope that one day we will produce individuals who make an impact on the scale of Bill Gates, Steve Jobs and Jeff Bezos,” Ovia said.

The Group Managing Director and Chief Executive Officer of Zenith Bank Plc, Dr Adaora Umeoji, urged innovators to embrace Artificial Intelligence rather than fear it.

Umeoji said the bank’s commitment to digital innovation is evident in investments such as its Zenith Intelligent Virtual Assistant (ZIVA) and fintech subsidiary, FinoPay, which developed the SMART AfCFTA Portal to facilitate intra-African trade.

“The next generation of global AI champions can and should come from Africa,” Umeoji said, urging innovators to build ethical and scalable technology solutions.

Zenith Bank sponsors ART X Lagos 2026 to promote African creativity

Lagos State Governor Babajide Sanwo-Olu commended Zenith Bank for consistently promoting innovation, saying the state government remains committed to creating an enabling environment for technology businesses to thrive.

The Minister of Innovation, Science and Technology, Dr Kingsley Udeh, who was represented by the Director-General of the National Space Research and Development Agency (NASRDA), Prof. Matthew Adepoju, also praised the bank’s investment in technology and youth development, stressing that stronger collaboration between government and the private sector would help convert innovative ideas into businesses and jobs.

Former OpenAI Head of Go-to-Market, Zach Kass, delivered the keynote address, urging participants to carefully consider the balance between automation and human judgement as AI continues to evolve.

Other speakers included Managing Director of the Pan-African Payment and Settlement System (PAPSS), Mike Ogbalu III; Google’s Head of Payment Partnerships for Europe, Middle East and Africa, Deniz Oran; NIGCOMSAT Managing Director, Jane Egerton-Idehen; NITDA Director-General, Kashifu Inuwa Abdullahi; and Network International Regional Managing Director for West Africa, Chinwe Uzoho.

Established by Ovia, the Tech Fair has evolved into one of Nigeria’s leading innovation platforms, connecting startups with funding, mentorship and business opportunities while supporting the growth of Africa’s digital economy.