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HACKATHON
We are looking for enterprising youth (as individuals or teams) to use technology (Software / Hardware / Software+Hardware), and solve for one of the themes.
Millennials and Generation Z (Gen Z) are a big part of the banking industry’s core market. And this market is growing. If incumbent Banks fail to understand and engage millennials and Gen Z, they won’t survive. Millennials trust technology and are less likely to seek face-to-face meetings with bankers at bricks-and-mortar branches. This group of consumers want entirely new digital products that are relevant by connecting innovation, to their daily lives.
Can you make banking more frictionless?
Can you create the Next Big Disruption that will shape the future of banking in Tanzania?
Can you use new age technologies to address unmet customer needs in the interconnected digital banking world?
Absa Bank Tanzania and Hindsight Ventures presents Wazo Challenge Tanzania 2025 Future of Banking Challenge, a 4-Weeks Venture Development Bootcamp to identify new age business ideas and startups who are solving for the future of banking.
We are looking for enterprising youth (as individuals or teams) to use technology (Software / Hardware / Software+Hardware), and solve for one of the themes.
We are looking for existing startups leveraging technology Software / Hardware / Software+Hardware), and solve for one of the themes.
Millennials, having grown up with the internet, are more receptive to new technological and digital offerings. They prefer tech products for anything and everything, on which FinTechs are betting.
According to a report by Global X, a segment of the millennial population the survey calls "adrenaline techies" are 136% more likely than other segments to use robo-advisors and apps instead of financial advisors.
The modern age customer demands more than the default convenience of online banking. They have high expectations for customer service, user experience, and customer engagement.
Millennials trust technology and are less likely to seek face-to-face meetings with bankers at bricks-and-mortar branches. This group of consumers want entirely new development and idea generation digital products that are relevant by connecting innovative, to their daily lives.
10 high-potential (5 from each track) will be selected for a 4-week venture mentorship and leadership development bootcamp, that will be delivered by Absa Bank Tanzania Leadership and Hindsight Ventures global network.
The Venture Bootcamp will help establish / reiterate basic venture development processes, enable industry connections, international networks, peer community and more. During the course of the bootcamp, each selected startup will get access to $600,000 worth of technology credits that will help them build fast.
Selected startups for the bootcamp will get an opportunity to work closely with the leadership at Absa Bank Tanzania which can lead to a collaboration or co-creation.
Each startup gets in excess of $600,000 in technology credits from partners such as AWS, Zoho, IBM, Microsoft, Canva, DigitalOcean, FreshWorks and more.
The program will culminate with a Demo Day to showcase Top - 6 solutions (3 from each track) to the Absa Bank Tanzania leadership and the local corporations and investors.
Hackathon submissions will be "invite-only", based on an abstract submission. Under Phase-1, participants must submit a summary of their idea with an intro, body, and conclusion.
Quick Tips
02 | MVP/Working Prototype Submission
Submit a MVP/working prototype of your solution that can be integrated to Absa Bank Tanzania systems.
SUBMIT HEREWe are looking for Tanzanian/African startups using technology (Software / Hardware / Software+Hardware), and solve for the above listed focus areas. It is mandatory that applicants should have a registered entity in Tanzania/Africa and be operational for a minimum 2 years.
SUBMIT HERE
