The bank disclosed that the competition
would reward the top three finalists who present the most creative and
innovative ideas with scholarships worth N300,000, N200,000 and N100,000.
Announcing the commencement of the
innovation challenge in Lagos, the Divisional Head, Retail Business, Mr Dotun
Ifebogun, said children who have Royal Kiddies account are eligible to
participate in the innovation challenge.
He said while the Hackaholics technological
challenge sponsored by the bank is for the young adults to find solutions to
life issues, the Kids’ innovation challenge is to introduce the young ones aged
between seven and 12 years to ideate and proffer solutions to issues in
learning, health, games, and agriculture.
Ifebogun urged parents to open the Royal
Kiddies account for their children to participate in the exercise.
The Chief Finance Officer of the bank, Mr
Tunde Mabawonku, said the bank places a high premium on innovation, and that it
would continue to partner with organisations to create the environment for a
better future.
While speaking on the importance of
introducing the children to the world of innovation to get them to realise
their creative potential, he said, “We live in a dynamic world where
technological advancement changes the way business is done from time to time.”
The Founder and Chief Executive Officer,
The Bulb Africa, the technical partner of the bank on the innovation challenge,
Mr Wande Adams, said the programme would train the children to be able to solve
everyday problems.
Adams said his company has different
training modules and activities such as Nextgen, which would teach the children
in various areas of technology.
The Head of Marketing Communication and
Investors’ Relations, Wema Bank, Mrs Funmilayo Falola, said the bank would
continue to enable the technological proficiency of the youth to help them
contribute to the technological development in the country.
To be eligible for the challenge, she said
a child must have an active Royal Kiddies account with a required minimum
balance of N20,000, and must also maintain an account balance of N20,000 from
the launch date till end of June.
Would have love my son to participate, but he is about to clock 4
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