The company secured this esteemed award following a highly competitive pitching session involving Ten Tech entrepreneurs and companies.

The Demo Day pitching session took place in Lagos on Saturday and witnessed the presence of esteemed officials and organizations within the technology and financial services ecosystem. Prominent attendees included Inuwa Abdullahi, the Director-General of the National Information Technology Development Agency, Aminu Umar-Sadiq, the Managing Director/Chief Executive Officer of NSIA, and Abubakar Suleiman, the Managing Director of Sterling Bank.

Money Africa emerged as the overall winner of the NSIA Prize for Innovation and was awarded a cash prize of $25,000. Extension Africa secured the second position with a cash prize of $17,500, while LegitCar claimed the third position with a cash prize of $12,500. Additionally, seven other tech firms that secured the fourth position each received a cash prize of $5,000.

The seven winning tech firms are Capsa, Yalo Technologies, CreditChek, truQ, Vella Finance, Apace Technology Solution, and Kobopay Technologies.

Expressing gratitude, Oluwatosin Olaseinde, the Founder and CEO of Money Africa, commended the management of NSIA for initiating this program, emphasizing its potential to boost innovation, foster business growth, and drive economic development.

The Managing Director of NSIA, Umar-Sadiq, highlighted the significance of the technology sector in the agency's growth objectives, given its ability to solve real-world problems, unlock numerous borderless opportunities, generate employment, and support overall economic advancement.

Umar-Sadiq also revealed that over 2,000 firms and individuals had submitted entries for the program. He emphasized that the program's objective is to identify, nurture, and fund early-stage innovative solutions that have the potential to accelerate economic growth, address societal challenges, and create employment opportunities.

He said, “Since we announced the NSIA Prize for Innovation, we have received many entries, each of which attests to the limitless spirit of innovation that abound in every nook and cranny of Nigeria. The entries are as niche and as multifaceted as can be.