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Zenith Bank Plc has awarded ₦190 million to 13 winners across three innovation competitions at the sixth edition of its flagship technology event, Zenith Tech Fair 2026: Future Forward 6.0, reinforcing its commitment to nurturing innovation, accelerating digital advancement and empowering the next generation of African technology leaders. Held virtually for the first time on Thursday, November 5, 2026, under the theme, “AI: Embrace or Extinct,” the event brought together technology leaders, entrepreneurs, innovators, policymakers and participants from across the world to explore the transformative potential of Artificial Intelligence (AI) and its implications for businesses, economies and society. The ₦190 million prize pool is the largest in the history of the Tech Fair, further demonstrating the Bank's growing investment in technology and innovation. The 2026 edition featured three competitions: the Hackathon, Startup Pitch Competition and the newly introduced Future Innovators Challenge. Together, they attracted over 3,000 submissions from developers, entrepreneurs and secondary school students seeking to showcase innovative solutions and secure funding to advance their ideas. In the Hackathon category, Team Solo emerged overall winner, receiving ₦35 million, while 10x Brains secured second place with ₦20 million. Rumour Hunters came third with ₦15 million, while Òmìnira and Team Avera emerged fourth and fifth, receiving ₦10 million each. In the Startup Pitch Competition, Cutstruct Technology Limited clinched first place with ₦35 million, followed by Sproutly, which received ₦20 million. PharmaRun secured third place with ₦15 million, while AUI BRAND and ProDevs completed the top five, receiving ₦10 million each. The Future Innovators Challenge, introduced to encourage technology-driven creativity and problem-solving among secondary school students, produced three winners. Caleb British International School emerged first, receiving ₦5 million, while Queen of the Rosary College, Onitsha, came second with ₦3 million. Regina Pacis International School secured third place with ₦2 million. Among the winning solutions, Cutstruct Technology Limited's LiveVend platform is transforming construction procurement by connecting developers and contractors with suppliers. Sproutly uses financial technology to simplify school payments, while PharmaRun makes access to authentic medications more convenient through its network of pharmacies. Caleb British International School's ReLearn platform, which won the Future Innovators Challenge, redistributes used textbooks to students in underserved communities, making learning materials more affordable and accessible. Beyond the financial rewards, the winners will benefit from a six-week mentorship and incubation programme, providing expert guidance and practical support to refine their solutions, strengthen their business models and scale their innovations. In his welcome remarks, the Founder of Zenith Bank Plc, Jim Ovia, CFR, reaffirmed his vision of empowering young people through technology and nurturing innovators capable of making a global impact. He said: “My vision is to continue empowering young people through technology, with the hope that one day we will produce individuals who make an impact on the scale of Bill Gates, Steve Jobs and Jeff Bezos.” In her opening address, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dame Dr Adaora Umeoji, OON, highlighted the urgency of embracing Artificial Intelligence and adapting to the rapidly evolving technology landscape. She noted that the Bank's commitment to innovation is reflected in its investments in digital infrastructure, products and services, including its Zenith Intelligent Virtual Assistant (ZIVA). She also highlighted the role of the Bank's fintech subsidiary, FinoPay, in developing the SMART AfCFTA Portal to facilitate intra-African trade. Speaking on Africa's role in the global AI revolution, she declared: “The next generation of global AI champions can and should come from Africa.” She further challenged participants to embrace emerging technologies, stating: “Do not fear AI. Embrace it. Whether you are developing a solution for a farm, clinic, classroom or factory, dare to think big, build ethically and create scalable solutions.” The Governor of Lagos State, His Excellency, Mr. Babajide Sanwo-Olu, commended Zenith Bank's contribution to technological advancement, saying: “Over the years, Zenith Bank has been a strong driver and enabler of innovation, using technology to advance solutions and raise expectations for its employees, stakeholders and the wider business community.” He also reaffirmed the Lagos State Government's commitment to the technology ecosystem, stating: “We are also committed to supporting and promoting the technology ecosystem, creating opportunities for innovation and ensuring that Lagos remains at the forefront of this important area of development.” The Honourable Minister of Innovation, Science and Technology, Dr Kingsley Tochukwu Udeh, SAN, represented by the Director-General of the National Space Research and Development Agency (NASRDA), Professor Matthew Adepoju, commended the Bank's investment in technology and youth empowerment. He emphasised the importance of public-private collaboration in translating innovation into economic opportunities, stating: “When government and the private sector work in the same direction, ideas become products, products become businesses, and businesses create jobs for our people.” The Tech Fair featured a distinguished line-up of technology leaders and industry experts, with Zach Kass, former Head of Go-to-Market at OpenAI, delivering the keynote address. Examining the evolution of AI and the emergence of autonomous agents, Kass challenged participants to consider the place of human judgement and values in an increasingly automated world. He said: “We are approaching a world in which we will have to ask ourselves, regularly and seriously: what do we want to keep human, and what are we willing to automate?” Other speakers included Mike Ogbalu III, Managing Director/CEO of the Pan-African Payment and Settlement System (PAPSS); Deniz Oran, Head of Payment Partnerships at Google for EMEA; Jane Egerton-Idehen, Managing Director/CEO of Nigerian Communications Satellite Limited (NIGCOMSAT); Kashifu Inuwa Abdullahi, Director-General of the National Information Technology Development Agency (NITDA); and Chinwe Uzoho, Regional Managing Director, West Africa, Network International. Sessions were moderated by Victoria Rubadiri, CNN Correspondent, alongside other industry experts. Conceived by the Bank's Founder, Jim Ovia, CFR, the Zenith Tech Fair reflects his vision of empowering young Nigerians through technology and nurturing innovators capable of developing solutions with global relevance. Over the years, it has evolved into a platform connecting ideas, talent, investment and opportunities, while giving emerging technology businesses the resources and exposure to grow. Previous winners have gone on to develop solutions with practical applications across different sectors. They include JumpnPass, which developed a self-checkout solution for retail; CreditChek, which uses AI and open banking to streamline credit verification; TrustLoop, winner of the 2025 Hackathon with its digital identity verification solution; and Cubbes Technologies Limited, winner of the 2025 Startup Pitch Competition with its AI-powered educational technology platform. With the introduction of the Future Innovators Challenge, Zenith Bank is extending this support to secondary school students, recognising the importance of identifying and nurturing technology talent early. Through the Tech Fair and its broader technology-driven initiatives, the Bank continues to invest in the people, ideas and businesses shaping Africa's digital economy, providing innovators with the funding, mentorship and opportunities to turn promising ideas into impactful solutions.
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Introduction The decision to invest in real estate or retain capital for other productive uses is not merely a question of asset preference; it is a question of how efficiently capital can be deployed. Property may appreciate over time, but acquisition and development can absorb substantial funds before producing a return. Liquid capital can instead be directed towards business operations, employment, trade and financial investments as opportunities arise. For an entrepreneur still building a business, committing funds prematurely to property may restrict the very activities capable of generating further wealth. The central question is therefore not whether real estate is worthwhile, but whether it should take priority over investments that keep capital active and accessible. TheCost of Tying Down Capital Real estate, particularly property development, requires significant upfront expenditure. Beyond the purchase price of land, an investor may pay professional fees, construction costs, labour, approvals, taxes and maintenance. These expenses accumulate before a property is completed, occupied or sold. Even after completion, a buyer may not appear immediately. Negotiations, weak demand, title checks and transaction formalities can prolong the sale, leaving substantial capital committed without the expected proceeds. The cost is not limited to the property. While the owner waits, the money cannot readily fund inventory, recruit employees, increase production or take advantage of another viable opportunity unless additional financing is obtained. A property may have a high market valuation while its owner has insufficient liquid funds to meet immediate needs. This is the opportunity cost of tying down capital, thus the investor must consider not only what the property may eventually earn, but also what the same funds could have produced during the holding period. Cashas Capital in Motion Cash offers a fundamental advantage in its accessibility. Unlike capital tied up in real estate, which may require a sale, lease, or a secured loan before its value can be accessed, cash is readily available for use when financial needs or business opportunities arise. Its value is not merely what it represents in monetary terms, but the ease with which it can be deployed without the delays and transaction costs associated with converting an asset into money. An unoccupied property that generates no rental income may appreciate in market value without providing the owner with funds to meet immediate obligations or pursue another venture. Even where a property is valued at ₦10 billion, that valuation does not translate into ₦10 billion readily available to its owner. Accessing the value requires a transaction, and finding a suitable buyer, negotiating a price and completing a sale may take considerable time. Cash, by contrast, places purchasing power directly at the owner’s disposal, preserving the ability to respond promptly to financial demands and emerging opportunities. This does not diminish the value of income-producing real estate. Rather, it distinguishes the ownership of a valuable asset from the possession of accessible capital. An asset’s market value may indicate wealth, but its accessibility determines how readily that wealth can be put to use. TheWider Economic Value of Liquid Capital The economic value of liquid capital extends beyond the individual investor to the wider economy. When deployed in viable enterprises, cash becomes a going concern, sustaining a continuous process of production, exchange and income generation. Businesses use available funds to purchase raw materials, acquire inventory, pay employees and engage suppliers. These expenditures generate income for other participants in the economy, enabling further transactions and sustaining economic activity across interconnected sectors. For instance, ₦1 billion invested in a viable manufacturing, distribution or service business could finance equipment, wages, logistics and expansion. Beyond potential returns to the investor, these activities can increase productive capacity, create employment, stimulate demand for suppliers and generate tax revenue. Capital thus becomes more than a financial asset; it serves as an ongoing source of economic activity. By contrast, capital committed to assets that neither generate income nor support productive operations may contribute little to ongoing economic activity. The distinction is not that real estate lacks economic value, but that cash, when productively deployed, can function as a going concern, continuously supporting production, commercial transactions, employment and income generation across the economy. Appreciationand the Illusion of Profit One of the strongest attractions of long-term real estate investment is the expectation of price appreciation. Yet an increase in market value does not necessarily translate into equivalent wealth creation. This distinction is particularly relevant to land banking, where investors acquire and hold land primarily in anticipation of future price increases, often without generating income during the holding period. Consider a property purchased for ₦10 million in 2010 and valued at ₦100 million in 2025. Although the investment appears to have multiplied a hundredfold, its actual profitability depends on inflation, acquisition and disposal costs, and any income earned along the way. Until the property is sold, the gain remains unrealized; even upon sale, the proceeds must be assessed against the costs incurred and the purchasing power of the original capital. The opportunity cost is equally significant. Capital committed to land solely for appreciation may remain unproductive while the owner waits for a favourable market or buyer. The same funds could instead be deployed into business operations or income-generating investments, producing returns that can be reinvested to generate further growth. The central issue is not whether land appreciates, but whether holding it is the most productive use of capital. Land banking may preserve or increase nominal value, but appreciation alone does not establish superior profitability. A sound assessment must consider real net returns, the time required to realize them and the income or growth that alternative uses of the capital could have generated. Reinvestmentand the Use of Surplus Funds ...
