Zenith Bank gives N190m to African innovators at tech fair

Zenith Bank Plc has awarded ₦190 million to 13 winners in three innovation competitions at its sixth technology event, Zenith Bank Tech Fair 2026: Future Forward 6.0. This shows the bank's commitment to supporting innovation and helping the next generation of African tech leaders.

For the first time, the event was held online on Thursday, 5 November 2026, with the theme, “AI: Embrace or Extinct.” It brought together tech leaders, entrepreneurs, innovators, and policymakers from around the world. They discussed how Artificial Intelligence (AI) can change businesses and society. The ₦190 million prize is the largest ever for the Tech Fair, showing the bank's growing focus on tech and innovation.

This year's event included three competitions: the Hackathon, Startup Pitch Competition, and the new Future Innovators Challenge. The competitions received over 3,000 entries from developers, entrepreneurs, and secondary school students who wanted to showcase their ideas and get funding.

In the Hackathon category, Team Solo won first place and took home ₦35 million. 10x Brains came second, winning ₦20 million. Rumour Hunters secured third place with ₦15 million, while Òmìnira and Team Avera took fourth and fifth, winning ₦10 million each.

In the Startup Pitch Competition, Cutstruct Technology Limited won first place with ₦35 million. Sproutly followed, receiving ₦20 million. PharmaRun came in third with ₦15 million, while AUI BRAND and ProDevs finished the top five, each getting ₦10 million.

The Future Innovators Challenge was aimed at encouraging tech creativity among secondary school students. Caleb British International School won first place with ₦5 million, while Queen of the Rosary College, Onitsha, came second with ₦3 million. Regina Pacis International School secured third place with ₦2 million.

Among the winning ideas, Cutstruct Technology Limited’s LiveVend platform is changing how construction procurement works by linking developers and contractors with suppliers. Sproutly simplifies school payments using financial technology, while PharmaRun makes it easier to access authentic medications through its network of pharmacies. Caleb British International School’s ReLearn platform, which won the Future Innovators Challenge, helps redistribute used textbooks to students in underserved communities. This makes learning materials more affordable.

Winners will also join a six-week mentorship and incubation program. This program will give them expert advice and support to improve their solutions and grow their businesses.

In his welcome speech, the Founder of Zenith Bank Plc, Jim Ovia, reiterated his goal of empowering young people through technology. He wants to nurture innovators who can have a significant impact globally. He said: “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.”

During her opening speech, the Group Managing Director/CEO of Zenith Bank Plc, Dr Adaora Umeoji, stressed the need to embrace Artificial Intelligence and adapt to the changing tech landscape. She mentioned that the bank’s focus on innovation is shown in its investments in digital tools and services, like the Zenith Intelligent Virtual Assistant (ZIVA). She also talked about FinoPay, the bank’s fintech subsidiary, which is working on the SMART AfCFTA Portal to boost intra-African trade.

Speaking about Africa's role in the AI revolution, she said: “The next generation of global AI champions can and should come from Africa.” She urged participants to embrace new technologies, stating: “Do not fear AI. Embrace it. Whether you are developing a solution for a farm, clinic, classroom or factory, dare to think big, build ethically and create scalable solutions.”

The Governor of Lagos State, Mr Babajide Sanwo-Olu, praised Zenith Bank's work in tech advancement. He said: “Over the years, Zenith Bank has been a strong driver and enabler of innovation, using technology to advance solutions and raise expectations for its employees, stakeholders and the wider business community.”

He also assured that the Lagos State Government is committed to supporting the tech ecosystem, stating: “We are also committed to supporting and promoting the technology ecosystem, creating opportunities for innovation and ensuring that Lagos remains at the forefront of this important area of development.”

The Honourable Minister of Innovation, Science and Technology, Dr Kingsley Tochukwu Udeh, SAN, represented by the Director-General of the National Space Research and Development Agency (NASRDA), Professor Matthew Adepoju, praised the bank’s investment in tech and youth empowerment. He emphasized the need for public-private partnerships to turn innovation into economic opportunities, saying: “When government and the private sector work in the same direction, ideas become products, products become businesses, and businesses create jobs for our people.”

The Tech Fair had a lineup of tech leaders and experts, with Zach Kass, former Head of Go-to-Market at OpenAI, giving the keynote speech. He talked about the evolution of AI and the role of human judgment in an automated world. He said: “We are approaching a world in which we will have to ask ourselves, regularly and seriously: what do we want to keep human, and what are we willing to automate?”

Other speakers included Mike Ogbalu III, Managing Director/CEO of the Pan-African Payment and Settlement System (PAPSS); Deniz Oran, Head of Payment Partnerships at Google for EMEA; Jane Egerton-Idehen, Managing Director/CEO of Nigerian Communications Satellite Limited (NIGCOMSAT); Kashifu Inuwa Abdullahi, Director-General of the National Information Technology Development Agency (NITDA); and Chinwe Uzoho, Regional Managing Director, West Africa, Network International. Moderators included Victoria Rubadiri, CNN Correspondent, and other industry experts.

The Zenith Tech Fair was created by the bank’s Founder, Jim Ovia, to empower young Nigerians through technology. It has grown into a platform that connects ideas, talent, investment, and opportunities, helping new tech businesses get the resources they need to grow.

Past winners have developed real-world solutions across various sectors. They include JumpnPass, which built a self-checkout system for retail; CreditChek, which uses AI for credit verification; TrustLoop, winner of the 2025 Hackathon for its digital identity verification tool; and Cubbes Technologies Limited, winner of the 2025 Startup Pitch Competition for its AI-based educational tech platform.

With the Future Innovators Challenge, Zenith Bank is now supporting secondary school students, showing the importance of finding and nurturing tech talent early. Through the Tech Fair and other initiatives, the bank continues to invest in the people and ideas that are shaping Africa’s digital economy, giving innovators the funding and support to turn their ideas into solutions.