By Juliet Umeh
To groom local technology talent and drive financial inclusion through homegrown solutions, the fintech subsidiary of Guaranty Trust Holding Company, GTCO, HabariPay Limited, hosted its flagship innovation event, Take on Squad Hackathon 2.0.
The second edition of the hackathon, held in Abeokuta, Ogun State, featured 20 teams from universities across Nigeria’s six geopolitical zones, showcasing innovative financial solutions.
The top three teams received cash prizes: N5 million for first place, N3 million for the second, and N2 million for the third.
Managing Director of HabariPay Ltd, Eduophon Japhet, said that the hackathon serves as a platform to nurture young innovators, particularly students, equipping them with the skills to develop financial technology solutions tailored to Nigeria’s unique needs.
Speaking on the theme, “Finclusion Revolution: Unlocking Access, Empowering Communities,” Japhet highlighted the importance of expanding access to financial services for underserved populations.
She remarked: “Today, about 80 percent of transactions in Nigeria are still cash-based, highlighting a significant gap in digital payments.
“Many existing payment systems, such as POS and card transactions, rely on expensive, imported technologies, making them costly and less accessible.
“We want young developers to explore alternative, indigenous transaction methods to create cost-effective and seamless financial solutions.”
Reflecting on the impact of the first edition, Japhet revealed that while last year’s winning solutions have yet to enter the market, HabariPay absorbed around 10 participants into its Academy Program, where they are currently interning and gaining hands-on experience in fintech innovation.
She explained: “Our Academy is an extension of the hackathon. We provide mentorship, training, and internships, and even cover educational fees to support these students. By integrating them into our team, we ensure they have the resources and guidance needed to refine their ideas and contribute meaningfully to the fintech ecosystem.”
Chief Marketing Officer of HabariPay, Yemi Atoda noted that the hackathon was inspired by the need to support young tech talents who drive innovation and economic growth.
“Technology is at the center of everything we do as a country and as human beings. We want to identify young talents quickly, encourage them to develop their skills, and put them on a global platform where they can showcase their innovations.
“Our goal is to provide the tools they need to build solutions that address Nigeria’s financial challenges.
Atoda reiterated that HabariPay is focused on developing practical, scalable solutions that make financial transactions easier for small and micro-businesses.
“We believe that African problems require African solutions. Through HabariPay, we aim to solve Africa’s payment challenges, ensuring that financial transactions are accessible, reliable, and efficient across the continent,” Atoda emphasized.
Among the standout projects at the hackathon was Houseify, a prop-tech solution developed by a team of second-year Computer Science students from the University of Ibadan. The platform aims to simplify the house-hunting process by eliminating agent fees and connecting prospective tenants directly with landlords.
Similarly, Team Sirius from Mountain Top University introduced Split Ease, a digital solution for securing group savings under the Ajo payment system. Their innovation aims to prevent fraudulent activities in group savings and escrow payments.
With the expansion of this year’s hackathon, HabariPay said it set to uncover groundbreaking solutions that will drive digital and financial inclusion, ultimately transforming how payments are made in Nigeria and beyond.
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