Nigeria’s growing reputation as a hub for world-class innovation has received another major boost. Nearpays, a Nigerian fintech startup, has become the first African company to win the Grand Finale of the United Nations’ AI for Good Innovation Factory, defeating more than 500 startups from around the world.
The achievement came during the AI for Good Global Summit in Geneva, Switzerland, a flagship United Nations initiative organised by the International Telecommunication Union (ITU) alongside several UN agencies. The competition celebrates artificial intelligence solutions that address real-world social and economic challenges, bringing together innovators, researchers, governments and technology companies from across the globe.
For Nearpays, the victory marks more than an international award. It is a milestone for Nigerian innovation and another example of African technology gaining global recognition.
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A Historic First for Nigerian and African Innovation
Nearpays secured its place in Geneva after emerging as the winner of the African regional competition held in Johannesburg. From there, the startup advanced through the semi-finals before claiming the overall title, becoming the first African startup to achieve the feat.
The competition featured more than 500 startups, each presenting AI-driven solutions designed to tackle pressing challenges across industries. Nearpays stood out by demonstrating how technology developed to solve everyday problems in emerging markets can deliver global impact.
The company described the recognition as a victory for its team and also for African innovators building products capable of competing with the best in the world.
Solving Payment Challenges with AI
At the heart of Nearpays’ success is its SoftPOS technology, an AI-powered platform that transforms compatible Android smartphones into secure contactless payment terminals.
Instead of purchasing expensive point-of-sale devices, merchants can simply use their smartphones to receive payments. This makes digital payments more accessible for small businesses, especially those operating in rural and underserved communities where traditional payment infrastructure is often limited.
The platform also supports offline transactions, allowing businesses to continue accepting payments even without internet connectivity. Beyond payments, Nearpays integrates artificial intelligence into fraud detection, tax compliance and business reporting, helping merchants manage their operations more efficiently while improving transaction security.
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A Win That Reflects Africa’s Growing Tech Influence
Nearpays’ latest achievement reinforces Nigeria’s position as one of Africa’s leading fintech ecosystems and highlights the continent’s growing influence in global technology conversations.
The company credited years of product development, customer feedback and continuous innovation for the milestone, while also acknowledging the United Nations, the ITU and the AI for Good initiative for creating a platform where startups can showcase technology with meaningful social impact.
As Nearpays looks to expand digital financial infrastructure across Africa, its victory sends an encouraging message to entrepreneurs across the continent: solutions built to address local challenges can earn recognition on the world’s biggest stages.
With fintech, artificial intelligence and digital inclusion continuing to shape Africa’s future, achievements like this demonstrate that Nigerian startups are not only participating in global innovation but helping define it.
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