Oseni: STEM key vertical in Nigeria’s economy

Wema Bank, one of Nigeria's leading financial institutions, is making waves in the innovation and technology space by committing to fostering young talent and driving digital conversations. During a recent chat with CNBC Africa at the grand finale of Hackaholics 5.0, Managing Director and CEO Moruf Oseni highlighted the bank's dedication to supporting Science, Technology, Engineering, and Mathematics (STEM) as key verticals in Nigeria's economy. Oseni revealed the bank's impressive pledge of $145 million in prizes for brilliant young students with innovative ideas, emphasizing the potential for these ideas to propel Nigeria forward in the tech industry. He expressed optimism that some of the companies funded through this initiative could become the unicorns of the nation in the coming years. Oseni emphasized the importance of focusing on the youth and being women-centric in the bank's strategy. He underscored that Nigeria's significant young population is the future of the nation, and it is crucial to provide them with platforms to excel and contribute positively to the country's development. Moreover, Oseni stressed the pivotal role of women in business, stating that neglecting women's empowerment is akin to a bird trying to fly with just one wing. Wema Bank is deliberate and intentional about financing for women, aiming to provide them with funding, capacity building opportunities, and support to run profitable businesses. By empowering women entrepreneurs, Oseni believes that Nigeria can unlock the full potential of women in the business sector, leading to successful and prosperous enterprises. The bank's commitment to STEM and its focus on empowering youth and women demonstrate its dedication to driving innovation, fostering talent, and contributing to Nigeria's economic growth and development.