HabariPay’s Take on Squad Hackathon aims to enhance financial inclusion in Nigeria by nurturing local tech talent and developing innovative payment solutions. The event, featuring university teams from across the country, focuses on creating scalable financial technologies. With mentorship and training provided, HabariPay is shaping the future of Nigeria’s fintech landscape and addressing cash dependency issues.
Nigeria’s fintech landscape is traditionally marked by cash transactions, significantly limiting digital financial service access among many individuals. To address this gap, HabariPay Limited launched the Take on Squad Hackathon, a platform aimed at nurturing local talent and fostering innovative payment solutions. Recently held in its second edition, the hackathon focused on challenging students nationwide to develop scalable technologies that can enhance financial inclusion in Nigeria.
The Take on Squad Hackathon, presented by HabariPay Limited—part of Guaranty Trust Holding Company (GTCO)—aims to cultivate local tech talent to develop solutions adapted to Nigeria’s specific financial hurdles. The event attracted twenty teams from universities in Nigeria’s geopolitical zones, showcasing their ingenuity through technologies tailored to digital payments. The theme “Finclusion Revolution: Unlocking Access, Empowering Communities” reinforced the competition’s goal of addressing the financial gap in underserved communities.
Eduophon Japhet, Managing Director of HabariPay, articulated the hackathon’s intent, affirming that the event transcends merely providing prizes. It serves to incubate young innovators, equipping them with vital skills to stimulate growth in Nigeria’s fintech sector. Japhet stressed the necessity for indigenous payment solutions, noting that a staggering eighty percent of transactions remain cash-based, primarily due to the reliance on costly, imported technologies complicating access for small and micro-businesses.
The aftermath of the inaugural hackathon indicated fruitful benefits; HabariPay integrated about ten participants into its Academy Programme. This initiative offers mentorship and real-world training, aiding students in refining their ideas while managing their academic commitments. “Our Academy is an extension of the hackathon,” Japhet shared, emphasizing the provision of resources and mentorship vital for the participants’ contributions to fintech innovation.
Several innovative projects emerged from the hackathon focused on resolving Nigeria’s financial issues. Notably, Houseify aims to simplify house-hunting by directly connecting tenants to landlords, thus eliminating agent fees. Other remarkable solutions included Delishgo, a drone delivery app for food, and Team Talk and Pay, designed for the visually impaired to engage in financial transactions using voice commands. Teams like Stockly and Split Ease further showcased diverse solutions addressing various financial challenges.
After an intense competition, Team Savvy secured the overall winner’s title, receiving five million naira for their innovative approach to financial inclusion. Team Farmceries and Team TBD earned second and third places respectively, with monetary awards attached. The hackathon not only offered financial prizes but also access to expert mentorship and potential job placements within HabariPay and GTCO’s fintech initiatives.
Events like the Take on Squad Hackathon 2.0 play a pivotal role in Nigeria’s evolution towards digital and financial inclusion, fostering technological self-sufficiency. By supporting young developers in creating indigenous solutions, HabariPay is influencing the trajectory of Nigeria’s digital economy significantly.
In conclusion, HabariPay’s Take on Squad Hackathon is a vital initiative fostering financial inclusion in Nigeria by empowering local talent to develop innovative fintech solutions. The event not only showcases groundbreaking ideas but also supports participants through mentorship and training programs. With increasing focus on indigenous solutions, HabariPay is playing a crucial role in shaping the future of Nigeria’s digital economy, providing access to underserved communities while cultivating the next generation of fintech innovators.
Original Source: www.thisdaylive.com
