Nigerian startup beats 500 rivals to give Africa first UN AI innovation crown

Nigeria’s fintech startup Nearpays has become the first African company to win the grand finale of the AI for Good Innovation Factory, defeating more than 500 startups from around the world in a milestone that signals Africa’s growing influence in building practical artificial intelligence solutions.

The victory came at the United Nations’ AI for Good Global Summit in Geneva, where Nearpays emerged as the overall winner after advancing from the African regional finals in Johannesburg to the global semi-finals and grand finale. The competition, organised by the International Telecommunication Union (ITU) alongside other UN agencies, brings together governments, researchers, startups and technology companies developing AI solutions for global social and economic challenges.

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Beyond the trophy, the achievement marks the first time an African startup has claimed the competition’s highest honour, highlighting a shift in how African technology companies are increasingly moving from being users of innovation to creators of globally recognised solutions.

Nearpays earned the recognition for tackling one of Africa’s biggest financial inclusion challenges: enabling millions of small businesses to accept digital payments without the high cost of traditional point-of-sale terminals.

Its flagship product, SoftPOS, transforms compatible Android smartphones into payment terminals, allowing merchants to receive contactless card payments directly on their phones without additional hardware. The platform combines artificial intelligence with payment processing, fraud detection, regulatory compliance and business management tools.

One of its biggest advantages is that it was designed specifically for African market conditions. Unlike many digital payment solutions that depend on stable internet connections, Nearpays’ platform can operate both online and offline, allowing merchants in rural and underserved communities to continue accepting payments even during network disruptions.

That approach reflects a broader trend among African technology companies that are increasingly designing products around local infrastructure challenges rather than adapting solutions originally built for developed markets.

The AI for Good Innovation Factory competition attracted more than 500 startups globally, each presenting AI-powered technologies designed to address pressing development issues. Nearpays’ journey began with its victory in the African regional contest in Johannesburg before advancing through successive rounds in Geneva to secure the overall title.

The company described the award as more than a corporate success, saying it represents a victory for African innovation and demonstrates that technologies built to solve local problems can compete successfully on the global stage.

Nearpays also credited years of product development, customer engagement and the commitment of its team for the achievement. It thanked the United Nations, the ITU and the AI for Good initiative for creating a platform where innovators can develop and showcase AI solutions with real-world impact.

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The company expressed hope that its victory would encourage more African entrepreneurs to build technologies tailored to local needs while aiming for international recognition.

The win comes as global investors and policymakers pay increasing attention to Africa’s AI ecosystem, where startups are focusing less on building large language models and more on applying AI to sectors such as financial services, healthcare, agriculture and education. This practical approach is helping African innovators carve out a competitive niche by solving problems unique to emerging markets.

For Nearpays, the global recognition is expected to strengthen its efforts to expand digital financial infrastructure across Africa, while reinforcing Nigeria’s growing reputation as one of the continent’s leading centres for fintech innovation. The success also sends a broader message that African-built AI solutions are no longer competing only within the continent, they are beginning to set global benchmarks.