Nearpays becomes first African startup to win UN AI for Good Innovation Factory grand finale

Nearpays has become the first African startup to win the AI for Good Innovation Factory grand finale, a global competition organised as part of the United Nations’ AI for Good Global Summit.

The achievement followed a competition that attracted more than 500 startups from around the world, with participants presenting artificial intelligence solutions designed to address social and economic challenges.

Organised by the United Nations through the International Telecommunication Union (ITU) in partnership with several UN agencies, the AI for Good Global Summit brings together governments, researchers, startups and technology companies to explore how artificial intelligence can support development and improve lives.

Nearpays was selected to represent Africa after advancing to the regional competition in Johannesburg, South Africa. The company emerged as the African regional winner, securing a place at the global finals held in Geneva, Switzerland.

In Geneva, the Nigerian-founded fintech progressed through the global semi-finals before winning the AI for Good Innovation Factory Grand Finale, becoming the first startup from Africa to claim the global title.

The milestone marks a significant moment for the continent’s technology sector, showing that solutions developed to address local challenges can compete on the global stage.

Nearpays said the recognition reflects more than a company achievement, describing it as “a victory for African innovation” and “a powerful statement that world-class technology solving local challenges can compete—and win—on the global stage.”

The company was founded to expand access to digital payments for businesses that cannot afford or easily obtain traditional payment infrastructure.

Across many African markets, small and medium-sized businesses continue to face challenges in accessing point-of-sale terminals because of cost, availability and deployment. These barriers have limited access to digital payments, particularly in rural and underserved communities.

To address this gap, Nearpays developed an artificial intelligence-powered payment platform that allows merchants to accept card payments directly on compatible Android smartphones without requiring a traditional POS terminal.

Its SoftPOS technology converts smartphones into payment acceptance devices, enabling businesses to receive contactless card payments using only their mobile phones.

The company has also integrated artificial intelligence into its platform to support payment processing, compliance, fraud detection and business operations.

Recognising the realities of internet access across many parts of Africa, Nearpays designed its platform to operate both online and offline. This enables merchants to continue accepting payments even when internet connectivity is unavailable, helping more businesses participate in the formal financial system.

The company’s journey to the global title began with its application alongside more than 500 startups. It then advanced to the regional competition in Johannesburg, won the African finals, qualified for the global event in Switzerland, progressed through the semi-finals and secured the overall title.

Nearpays said the journey was built on “resilience, continuous learning, determination, and unwavering belief in a shared vision.”

The company added that each stage reflected years of product development, customer engagement and the work of a team focused on solving payment challenges faced by businesses across Africa.

Nearpays also said it hopes the recognition will encourage more founders across the continent to develop technology that addresses local needs while competing internationally.

The company thanked its employees for their contribution to the achievement and expressed appreciation to the United Nations, the International Telecommunication Union and the AI for Good initiative for creating a platform that enables innovators to use artificial intelligence to solve real-world problems.

For Nearpays, the global title marks the end of one journey and the beginning of another as it continues to expand access to digital financial infrastructure across Africa.