HabariPay Limited launched the Take on Squad Hackathon to promote financial inclusion in Nigeria by engaging students in creating local payment solutions. The recent hackathon brought together teams from across Nigeria, focusing on developing technologies that cater to financial challenges. Winning projects addressed issues such as housing and financial accessibility for the visually impaired. The event also emphasizes ongoing mentorship and training for participants, aiming to shape Nigeria’s fintech future.
Nigeria’s fintech landscape is evolving, but cash transactions remain prevalent, leading to significant financial exclusion. To address this issue, HabariPay Limited, the fintech division of GTCO, initiated the Take on Squad Hackathon. This platform is designed to promote young innovators and develop sustainable local payment solutions. In its second edition, the hackathon invited students nationwide to create impactful technologies aimed at enhancing financial inclusion.
The Take on Squad Hackathon 2.0 was held in Abeokuta, Ogun State, attracting twenty teams from universities across Nigeria’s geopolitical regions. The theme “Finclusion Revolution: Unlocking Access, Empowering Communities” emphasized how technology can bridge the financial gap for underserved communities. The event provided a collaborative environment for participants to present their digital payment innovations and respond to the unique economic challenges faced in Nigeria.
Eduophon Japhet, Managing Director of HabariPay Limited, underscored that the hackathon’s purpose extends beyond competition. It serves as a vital incubator for talent, equipping participants with essential skills to innovate within Nigeria’s fintech industry. Notably, with approximately eighty percent of transactions occurring in cash, the need for affordable, local payment solutions that do not rely on expensive imported technologies is critical for small and micro-businesses across the region.
Reflecting on the first hackathon, Japhet noted that while last year’s winning ideas have not yet reached the market, ten participants have been absorbed into HabariPay’s Academy Programme. This initiative offers mentorship, training, and internships that allow young innovators to develop their ideas while supporting their education. The integration into the academy aims to equip them with necessary resources to make meaningful contributions to the industry.
The hackathon highlighted numerous innovative projects addressing Nigeria’s financial challenges. Among these, Houseify emerged as a platform that simplifies the house-hunting experience by connecting tenants and landlords without agent fees. Other notable projects included Delishgo, an app facilitating food delivery via drones, and Talk and Pay, which enables visually impaired users to access financial services through voice commands.
Team Savvy triumphed as the overall winner, earning a five million naira cash prize for their solution’s practicality in promoting financial inclusion. Other winners were Team Farmceries, receiving three million naira, and Team TBD, awarded two million naira. In addition to monetary rewards, participants were exposed to expert mentorship, real-world challenges, and opportunities for potential placements within GTCO’s fintech ecosystem.
As financial technology reshapes economies in Africa, events like the Take on Squad Hackathon 2.0 are instrumental in fostering innovation and addressing digital disparities. By nurturing young talent and promoting indigenous fintech solutions, HabariPay is significantly influencing Nigeria’s digital economic landscape and enhancing access to financial services.
The Take on Squad Hackathon 2.0 represents a significant initiative by HabariPay to drive financial inclusion in Nigeria. By nurturing local talent and emphasizing homegrown solutions, the hackathon addresses critical financial challenges while promoting entrepreneurial skills among young innovators. The program not only showcases innovative ideas but also ensures mentorship and support for participants, paving the way for a more inclusive fintech ecosystem in Nigeria.
Original Source: www.thisdaylive.com
