Business
BOU awards innovative students sh35m at hackathon
The four-day event held at Mestil Hotel, which ran from July 10 to 13, brought together young minds from various registered institutions across Uganda to develop innovative digital solutions to real-world challenges.
The winning team, Fraud Link, walked away with sh15m, the first runners-up, Kakasa, received sh12m, while the second runners-up, Borrow Wise, pocketed sh8m. (Courtesy photo)
By: Ali Twaha, Journalist @New Vision
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The Bank of Uganda (BOU) awarded cash prizes worth sh35m to three outstanding student teams during its highly anticipated Hackathon, held as part of its Diamond Jubilee celebrations.
The four-day event held at Mestil Hotel, which ran from July 10 to 13, brought together young minds from various registered institutions across Uganda to develop innovative digital solutions to real-world challenges.
According to Kenneth Egesa, Director of Communications at BOU, the hackathon aimed to harness the creativity and technical skills of Uganda's youth in software development, technology, and innovation to contribute to the country's digital economy.
“We firmly believe that the best ideas do not reside within one institution alone. Innovation has no department. Wisdom has no age. Good ideas know no boundaries. That is why this Hackathon is so important,” he said.
The students who took part in the Bank of Uganda Hackathon, from different universities, pose for a group photo. (Courtesy photo)
“We firmly believe that the best ideas do not reside within one institution alone. Innovation has no department. Wisdom has no age. Good ideas know no boundaries. That is why this Hackathon is so important,” he said.
The winning team, Fraud Link, walked away with sh15m, the first runners-up, Kakasa, received sh12m, while the second runners-up, Borrow Wise, pocketed sh8m.
The judges included Tumubweinee Twinemanzi, executive director, National Payment Systems at BOU, Collin Babirukamu, executive director, Information Technology at BOU, among other corporate executives. The teams were tasked to develop solutions that aim at addressing the current market challenges of unsolicited messages and interest rates.
Susan Kanyemibwa, the central bank secretary, praised the participants for their dedication. She said the young innovators have shown immense talent and potential.
“The solutions you have provided are going to form some of our policies. We have had so many cases of mobile money theft. Some of the solutions you have shared are what we are looking for. The central bank of 60 years ago is not the central bank of today. So many things have changed,” she said.
The judges included Tumubweinee Twinemanzi, executive director, National Payment Systems at BOU, Collin Babirukamu, executive director, Information Technology at BOU, among other corporate executives. The teams were tasked to develop solutions that aim at addressing the current market challenges of unsolicited messages and interest rates.
Susan Kanyemibwa, the central bank secretary, praised the participants for their dedication. She said the young innovators have shown immense talent and potential.
“The solutions you have provided are going to form some of our policies. We have had so many cases of mobile money theft. Some of the solutions you have shared are what we are looking for. The central bank of 60 years ago is not the central bank of today. So many things have changed,” she said.