Lagos, December 1, 2024 – Industry professionals in the building and construction sectors have been encouraged to adopt green building practices as a means to secure sustainable financing for large-scale projects. This was the key takeaway from experts who spoke at the Ecobank Design and Build Expo in Lagos last week.Green building, or sustainable building, refers to the design and construction of structures that prioritize environmentally responsible and resource-efficient processes throughout their lifecycle—spanning planning, design, construction, operation, maintenance, renovation, and demolition.Bolaji Balogun, Chief Executive Officer of Chapel Hill Denham, emphasized the importance of sustainable practices during his presentation on “Sustainable Financing.”

Bolaji Balogun, Chief Executive Officer, Chapel Hill Denham

He highlighted that projects with an environmentally-friendly focus are more likely to attract lower-cost capital both locally and internationally. He also pointed out that multinational companies are increasingly seeking buildings with EDGE (Excellence in Design for Greater Efficiencies) certification.He explained, “The world is shifting towards green buildings. These buildings attract cheaper capital, both domestically and abroad. Large organizations now prefer EDGE-certified buildings, which offer environmental features like low carbon footprints, energy efficiency, and reduced operating and maintenance costs.”Balogun also mentioned other sources of sustainable financing, such as Sukuk, blue financing, and gender financing.

Godwin Tapela, Senior Investment Officer, International Finance Corporation

He encouraged organizations to explore capital and bond markets to secure funding.Godwin Tapela, Senior Investment Officer at the International Finance Corporation (IFC), spoke about the EDGE certification system, which was developed by the IFC to minimize the environmental impact of the building sector, particularly in emerging markets. He emphasized the corporation’s ongoing efforts to promote awareness of the importance of eco-friendly, sustainable buildings.Tapela also reaffirmed that the IFC remains committed to providing sustainable financing solutions, especially for developers of green buildings and affordable housing.The five-day Ecobank Design & Build Expo, themed “Building Nigeria Together,” took place from November 27 to December 1, 2024, at the Ecobank Pan African Centre (EPAC) on Victoria Island, Lagos. The event featured around 60 exhibitors showcasing their latest products and innovations in architecture, construction, building materials, household appliances, engineering, and interior design.A highlight of the expo was a visit from former President Chief Olusegun Obasanjo GCFR, who toured the various pavilions, which displayed cutting-edge trends, innovations, and sustainable practices. He praised the exhibitors for the high quality of their work.Prominent global brands participating in the expo included SABA Steel, Nigeria’s largest steel manufacturer; Coleman Wire & Cables, the leading cable producer in West Africa; Donna Spectre, a major player in indigenous oil and gas logistics; Dulux Paints, a top paint brand in Nigeria; HTL Africa, an innovative architectural firm; ITB Nigeria Limited, a major construction company in Nigeria and West Africa; and Mota Engil Nigeria, a leading civil construction company.

Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has successfully concluded the 5th edition of its Hackaholics initiative, a premier ideathon designed to empower and support the nation’s brightest tech innovators. The grand finale, which took place recently in Lagos, witnessed a remarkable showcase of ingenuity and problem-solving prowess, culminating in seven startups sharing an impressive N145 million in prize money—nearly double the initial prize fund of N75 million.This year’s Hackaholics stood out with a record-breaking 3,500 applications from across Nigeria. From this pool, 10 finalists showcased innovative solutions addressing real-world challenges, ranging from education accessibility to sustainable agriculture, healthcare, and more.Feegor, the overall winner, was awarded the top prize of N50 million for its innovative B2B wholesale marketplace and SaaS platform. Feegor empowers SMEs to discover, negotiate, and source goods from verified suppliers while accessing credit through a Buy Now Pay Later (BNPL) model. This groundbreaking approach is set to drive growth and create significant economic impact.The first runner-up, Empayment AI, received N35 million for its AI-powered invoice discounting platform, revolutionizing how businesses manage payments. Bloom Beauty, the second runner-up, was awarded N20 million for its personalized, AI-curated solutions that are transforming the beauty industry.In the women-led category, MyTherapist secured the position of first runner-up, earning N12 million. MyTherapist connects users with mental health professionals, providing accessible and affordable therapy solutions for emotional well-being. Meanwhile, MyItura, an innovator delivering remote healthcare services, clinched the position of second runner-up in the women-led category, receiving N8 million.Both Northino and University X earned honorable mentions at the grand finale, each receiving N10 million. Northino was recognized for bridging traditional knowledge and modern technology through digital skills training for African native speakers, while University X impressed with its transparent, all-encompassing platform for tertiary education management.The significance of these groundbreaking innovations was highlighted by Wema Bank’s CEO, Moruf Oseni, who shared his vision for the initiative. In his words, “We are delighted to celebrate the brilliance of our youth through the Hackaholics initiative. At Wema Bank, we are more than a bank; we are enablers of dreams and drivers of transformation. When I stood here earlier, the total prize money was N75 million. But, inspired by the potential we saw, we decided to increase the total prize pool to N145 million. Wema Bank’s legacy of 79 years remains rooted in innovation, and with initiatives like Hackaholics, we continue to empower lives and shape the future.”Ugonna Ginigeme, CEO of Feegor and the overall winner, expressed heartfelt gratitude for the recognition and support. “I feel very grateful to God, my team, and everyone who has been part of this journey. Winning among so many great startups and entrepreneurs is humbling. I sincerely thank the MD, Wema Bank, and its management for this incredible opportunity. These are still early days, but we are determined to keep working, building, and creating a positive impact for SMEs and the Nigerian economy while building an all-around successful company.” Ginigeme said.Hackaholics 5.0 not only underscores Wema Bank’s legacy of innovation but also sets the stage for further technological advancements, fostering a generation of problem-solvers poised to reshape Nigeria’s future.

Wema Bank, Nigeria’s innovative leader in banking and pioneer of Africa’s first fully digital bank, ALAT, has officially announced the 35 exceptional teams advancing to the grand finale pitch of Hackaholics 5.0. The grand finale pitch is set to hold on November 25, 2024, in Lagos, themed “Meta Idea: Catalyzing Africa’s Growth Through Innovation.”
After a series of competitive pre-pitch events at eight physical locations and one virtual pitch center, 35 outstanding teams have emerged as top contestants. These teams represent diverse and impactful ideas, ranging from tech solutions in agriculture, finance, and education to innovations in healthcare, sustainability, and artificial intelligence.
The top contestants include: Northino, Our Haven, Celia, Nadir, Nimsy Agro, Hebron Chain, Paystrait, DevMe, Preview, Coconoto, EduGaze, Dokia, Gbale Prime, Health 4 Moni, Digiland, Abinci, Unifi, CyclexAfrica, Airify, Kwab, Gnergy, University X, AI Teacha, Code Red, APISentry, Fegor, TrashCoin, Paywise, Pandascrow, Lexia AI, Bunce, Bloom Beauty, MyItura, Accede, Scratop Nigeria Limited.
The grand finale pitch will see these top contestants pitch innovative Digi-Tech solutions to a panel of esteemed investors, industry leaders, and mentors competing for ₦75 million worth of prizes. The prize structure includes a whopping ₦30 million worth of prizes for the grand prize winner, ₦20 million worth of prizes for the first runner up, ₦15 million worth of prizes for the 2nd runner up, and ₦10 million worth of prizes for the top women-led team.
Moruf Oseni, MD/CEO of Wema Bank, expressed his excitement about the competition’s impact:
“Hackaholics is a testament to Wema Bank’s commitment to fostering innovation and youth empowerment.” These 35 top contestants represent the future of Africa’s tech-driven transformation, and we are proud to provide them with a platform to bring their ideas to life. The Meta Idea theme challenges them to think beyond immediate solutions and focus on innovations that capitalize on Africa’s growth potential. We look forward to celebrating their ingenuity at the grand finale.”
This year’s Hackaholics competition received thousands of applications from across Nigeria, highlighting the creativity and determination of young tech enthusiasts. The competition has inspired groundbreaking solutions aimed at addressing Africa’s challenges and driving digital transformation. It underscores the role of technology and entrepreneurship in Africa’s socio-economic progress and remains a key platform for discovering and nurturing young talents, offering winners mentorship, networks, and resources to scale globally.
To attend the Hackaholics 5.0 grand finale and witness the next generation of innovators in action, register at https://hackaholics.wemabank.com/grandfinale.