The announcement came after a rigorous, months-long nomination and screening process that drew ten highly qualified nominees across Africa.

Following detailed evaluations and committee deliberations, Akinloye emerged as the standout candidate, recognized for her exceptional contributions to financial regulatory compliance, anti-money laundering (AML) enforcement, and corporate law.

The award was presented on November 7, 2024, at the prestigious Africa Tech Alliance Excellence Awards (ATAEx) held at Oriental Hotels, Lekki, Lagos.

Organizers, including the TechCastle Foundation in partnership with Techeconomy, emphasized that this category honors professionals who have significantly impacted the financial and regulatory landscape, paving the way for Africa’s digital economy.

“This recognition reflects not only Akinloye’s outstanding expertise and leadership but also her distinguished reputation, delivery, and versatility in advancing compliance and governance practices in the financial sector,” said the award committee.

A Career Rooted in Excellence

Racheal Bukola Akinloye’s professional journey exemplifies the blend of legal expertise and regulatory compliance mastery that the award celebrates.

A Nigerian-trained lawyer and Barrister and Solicitor of the Supreme Court of Nigeria, she completed her Bachelor of Laws (LL.B.) with distinction at Obafemi Awolowo University, followed by her Barrister-at-Law (B.L.) qualification at the Nigerian Law School.

Most recently, Akinloye earned her LL.M. in Business and Finance Law from The George Washington University Law School in 2024, where she was awarded both the George Washington Law School Merit Scholarship and the Gupta Scholarship. Her academic and professional trajectory reflects a deep engagement with financial regulation, corporate compliance, and cross-border fintech challenges.

Professionally, she has distinguished herself across banking, finance, and legal practice. At Bonajo Badejo & Co., she worked as an Associate in the Banking and Compliance Unit, representing clients in high-profile disputes while drafting and negotiating critical transactional documents.

Also conducting KYC reviews, transaction monitoring, and regulatory compliance oversight. Her early career at Olaniwun Ajayi LP as a Regulatory Compliance Intern laid a strong foundation in due diligence and corporate governance.

By late 2024, Akinloye expanded her impact internationally, joining the Onero Institute as a Relationship Specialist and Researcher, where she analyzed data, tracked KPIs, and produced research on U.S. financial regulations, fintech operations, and AML/BSA frameworks.

She also actively contributed as a volunteer at the World Bank IFC Conference in 2024, reinforcing her role as a global voice on governance and compliance.

Thought Leadership and Advocacy

Beyond her professional practice, Akinloye is an active member of the Association of Certified Anti-Money Laundering Specialists (ACAMS), the American Bar Association, and the Anti-Corruption and Advocacy Network.

Her publications, including Cross-Border Financial Data Sharing in Fintech: Legal and Operational Challenges and The Economic Toll of Financial Crimes: Analyzing the $3.1 Trillion Impact on Global Markets,demonstrate her authority in shaping discourse on compliance, financial integrity, and the future of digital economies.

Recognition of Impact

The AfriTech Excellence Award underscores her pivotal role in bridging legal, financial, and compliance sectors. The rigorous selection process, which included a thorough review of nominees’ work and contributions, culminated in her recognition as the most deserving candidate among her peers.

With this award, Akinloye solidifies her standing as a leading business and corporate law professional whose work continues to influence financial regulation and governance practices in Africa and beyond.

Congratulations to Racheal Bukola Akinloye for this landmark achievement.

Similarly, voting has commenced for the Africa Tech Alliance Excellence (ATAEx) awards through the: https://vote.africatechallianceforum.africa/.

Today, the boundary between hardware and software is blurring. Software is infiltrating more and more technology products that used to function only by mechanical rules and analog signals.

Different models of driverless cars are navigating themselves with sensors and software. This trend is not stopping. Hardware-based technology companies often find themselves falling behind their innovative software counterparts in identifying new value for customers.

In more dramatic cases categories of hardware technology got replaced by software. No one still buys radio or CD players anymore.

Thus, software is threatening to replace hardware-based networking. The “commoditization trap” for hardware seems impossible to escape without a product strategy backed by software innovation hence over 70% of the world economy has become services, and this percentage continues to grow worldwide.

As of 2020 the United States produced 79% of its GDP in services. Majority of the companies in Africa are strategizing to compete primarily on a service basis.

This approach referred to as Technology-as-a-Service (TaaS), which is the rising future for technology sectors, will be discussed at AfriTECH 3.0.

Hosted by TechCastle Foundation in collaboration with Techeconomy and partners, AfriTECH 3.0 is a unique engagement platform for global thought leaders, regulators, and other stakeholders to discuss and collaborate on contemporary strategies for accelerating technology ecosystem in the African continent and globally.

Key topics to be explored include TaaS-driven last mile solutions, leveraging big data and artificial intelligence, inclusive product innovation, Driving ‘TaaS’ Model through infrastructure deployment, leveraging subscription model to survive tough economic times, cloud computing, omnichannel communications for improved CX, Consumer protection, fraud and data privacy, etc.

The past editions of AfriTECH were well attended by C-Suite executives, investors, innovators, senior government officials from within and outside the Continent. With over 1,500 participants and feedback on the events overwhelmingly positive, the 2023 edition is much anticipated.

Overall, AfriTECH 3.0 promises to be an insightful and engaging platform for networking with a vibrant and globally diverse community and an eclectic mix of offerings to enrich participants’ in-person and/or virtual experience.

 “Africa Tech Alliance Forum Excellence Award (ATAEx Award) recognises the pivotal role of the technology ecosystem in the development of Africa’s economy. ATAEx award is merit centric for organisations and individuals that have contributed to the growth and development of the ICT industry in Africa”, Chike Onweuegbuchi, the co-founder of TechCastle Foundation said, who called on tech enthusiasts to vote through the link. 

“In its 3rd edition, this edition we are introducing an online voting process for stakeholders in the sector to select who deserves to be awarded in each category”.