In the process, it produced some of the continent’s most successful startups and proved that African founders can build technology companies at scale.

Fintech wasn’t just a sector; it was the continent’s primary digital bedrock.

Today, a new paradigm is shifting the landscape. Artificial intelligence has quickly become a leading topic, influencing global discussions and changing expectations for productivity, corporate efficiency, and economic growth.

However, it is a fundamental misreading of the African market to treat fintech and AI as competing narratives or to see them as separate silos.

At Gullit VC, we believe that Africa’s next chapter must go beyond legacy fintech and AI. The true frontier of value creation is at the intersection: building intelligent infrastructure. In the previous decade, we moved data and money. The next decade will focus on making those movements more contextual, predictive, and efficient.

As Hiruy Amanuel, managing director of Gullit VC, recently observed,

“The biggest opportunities in Africa are emerging where technology and infrastructure intersect.”

That belief sits at the heart of Gullit VC’s investment thesis and helps explain why the firm sees the convergence of fintech and artificial intelligence as one of the continent’s most compelling long-term opportunities.

The next generation of transformative startups will combine fintech-built digital infrastructure with AI-enabled intelligence and decision-making.

Over the next decade, this convergence has the potential to become one of the continent’s most important sources of value creation.

Fintech Remains Africa’s Strongest Innovation Layer

Before intelligent systems can create meaningful value, there must first be infrastructure. Fintech has largely built that infrastructure.

Over the past decade, African entrepreneurs have created payment rails, digital wallets, loan facilitation channels, agency banking, and other financial services that have increased the availability of financial services to millions of individuals and business entities.

Fintech succeeded because it solved immediate problems, making it easier for people to move money, receive payments, and access financial services.

Investors continue to deploy capital in fintech, reflecting its importance. According to Partech Africa, fintech remained the biggest category of startups in Africa in 2025, accounting for about 25% of the total venture capital raised on the continent.

That figure highlights an important reality: fintech is no longer just a startup category. It has become part of Africa’s economic infrastructure.

Fintech has created something else that will only become more valuable as we move deeper into the age of artificial intelligence: data. Without data, artificial intelligence cannot deliver any value. Fintech has spent years building the systems that generate that data at scale.

AI Is Becoming the Intelligence Layer

Artificial intelligence should not be viewed as a replacement for fintech. It should be viewed as the intelligence layer sitting on top of the infrastructure fintech has already created.

The potential is huge globally. According to PwC, AI could add up to $15.7 trillion to the world economy by 2030, with emerging economies expected to capture a significant share of this growth through improved efficiencies and new business models.

For Africa, though, the potential is not merely about joining a global tech wave. It is about applying intelligence to solve local challenges more effectively.

Some of the most successful African AI businesses may never describe themselves as AI companies. Instead, they will embed intelligence into products and services people already use every day.

Financial services provide a clear example. Millions of individuals and small businesses remain underserved by traditional financial institutions, while incomplete credit histories, expensive risk assessments, and fraud continue to limit access to finance.

AI can help address these challenges. While such technologies may not attract as much attention as other AI technologies like generative AI, they can create real economic value.

Those who will succeed in Africa’s AI age are not necessarily those who build the most advanced algorithms. These will be the businesses that use intelligence to solve real-world problems at scale.

Africa’s AI Future Will Look Different

One of the most common mistakes investors make is assuming that Africa’s AI ecosystem will evolve in the same way as Silicon Valley’s. The realities are different. The challenges are different. The opportunities are different.

Many of Africa’s most successful technology companies emerged because founders deeply understood local market conditions and built solutions around them. The same principle will shape the continent’s AI future. However, while most of the discussion around AI revolves around productivity applications and business solutions, there is an exciting possibility for African entrepreneurs to use AI in sectors that deal with more basic issues.

Agriculture, healthcare, and logistics offer clear opportunities. AI can help farmers improve crop management, support healthcare diagnostics, and optimize supply chains across fragmented markets.

Across these sectors, the objective is not technology for technology’s sake. It is technology applied to solve practical problems. That is why we believe Africa’s AI story will focus more on application than on invention.

The continent does not need to build the next large language model to create value. It needs founders who can apply intelligence to improve outcomes in markets that still face significant structural challenges.

Investing in Infrastructure Over Hype

Every major technology cycle generates excitement. Few create lasting value. The companies that endure are rarely the ones chasing headlines. They are the ones building infrastructure, improving efficiency, and solving meaningful problems.

This principle shapes how we think about investing at Gullit VC. We believe the most compelling opportunities will emerge from businesses building intelligence into the systems that power economic activity. Whether in financial services, healthcare, commerce, or logistics, the long-term winners will be those creating infrastructure that becomes increasingly valuable over time.

That is why we remain focused on transformative technologies rather than technology trends.

AI matters. Fintech matters. What matters more is how founders combine both to build durable solutions that improve how economies function.

The Next Chapter of African Innovation

Africa’s innovation story has never been about following global trends. It has always been about adapting technology to local realities.

Fintech succeeded because it solved everyday problems at scale. AI now offers an opportunity to make those systems smarter.

The next generation of African technology leaders will not be defined by whether they are fintech companies or AI companies. That distinction will become increasingly irrelevant.

Instead, they will be defined by their ability to combine financial infrastructure with intelligent systems to solve some of the continent’s most pressing challenges.

Fintech laid the foundation. AI can make that foundation smarter. The opportunity now is not to choose between them but to build where both meet. That is where we believe the next chapter of African innovation will be written.

The post The Future of African Innovation: An intersection of Fintech and AI appeared first on Tech | Business | Economy.

Khoi Tech, an African AI company has completed an intensive six-month AI Readiness Accelerator, emerging with significantly enhanced artificial intelligence capabilities, a refined Software-as-a-Service (SaaS) strategy and strengthened international partnerships that position the business for its next phase of growth.

Delivered by Disraptor and funded by Telkom FutureMakers and the UK-South Africa Tech Hub, with support from the British High Commission, the accelerator was designed to help ten high-potential black-owned South African technology businesses embed artificial intelligence into their products, operations and long-term commercial strategies.

For Khoi Tech, the programme represents a major milestone in its evolution from a connected device manufacturer into an intelligent technology company leveraging AI, predictive analytics and real-time data to solve complex challenges across healthcare, occupational health and safety, mining, logistics, sports technology and enterprise digital transformation.

Over six months, participating companies worked alongside AI specialists, cloud architects, engineers, business mentors and industry leaders to strengthen their technical capabilities, accelerate product innovation and prepare for sustainable growth in an increasingly AI-driven global economy.

The programme culminated in the cohort travelling to the United Kingdom to participate in London Tech Week 2026.

For Khoi Tech, the accelerator fundamentally reshaped how the business approaches technology innovation.

“Artificial intelligence is transforming every industry, and we recognised early that AI could not simply become another feature within our products. It needed to become part of our DNA,” says Seati Moloi, CEO and Founder of Khoi Tech.

“This programme challenged every part of our business; from leadership and engineering to product strategy and commercialisation. We are leaving with stronger technical capability; a clearer AI roadmap and greater confidence that African-built technology can compete on the global stage.”

Throughout the accelerator, Khoi Tech’s executive leadership participated in strategic founder development, executive wellness coaching, leadership mentoring and business advisory support focused on scaling high-growth technology businesses.

At the same time, Khoi Tech’s engineering team underwent extensive AI capability development, working directly with experienced AI practitioners, software engineers and cloud architects to deepen their expertise in machine learning, data engineering, AI architecture, intelligent automation and scalable software development.

The programme also introduced advanced AI tooling, modern development frameworks and best practices that will enable the company to design, develop and scale enterprise-grade AI-powered products internally.

A central focus of the accelerator was refining Khoi Tech’s Software-as-a-Service strategy to support long-term scalability and commercial sustainability.

Through structured business coaching and strategic mentoring, the company validated new AI opportunities across its core markets, strengthened its go-to-market approach, refined its commercialisation strategy and identified new monetisation pathways for its growing ecosystem of intelligent digital platforms.

Today, artificial intelligence has become a foundational capability across Khoi Tech’s technology ecosystem. Rather than being layered onto existing products, AI has been embedded throughout the company’s platforms to deliver predictive analytics, intelligent automation, real-time decision support and enhanced user experiences.

These capabilities are strengthening solutions across remote patient monitoring, occupational wellness, mining safety, driver fatigue management, family healthcare, sports performance analytics and enterprise workforce wellbeing.

The programme also accelerated Khoi Tech’s data maturity by strengthening the scalable data infrastructure required to support advanced artificial intelligence.

This investment provides the foundation for faster product innovation while enabling the company to transform increasingly complex volumes of real-time data into meaningful business intelligence and predictive insights for customers.

For Khoi Tech, these outcomes reinforce its long-term vision of becoming one of Africa’s leading intelligent technology companies, combining connected devices, cloud platforms, artificial intelligence and real-time analytics into a unified technology ecosystem.

“Our ambition has always been to build technology that solves African challenges while meeting global standards. This accelerator has accelerated that vision,” adds Moloi.

As artificial intelligence continues to reshape industries worldwide, Khoi Tech is entering its next chapter equipped with stronger engineering expertise, enhanced AI capability, a refined commercial strategy and valuable international networks.

The company is now well positioned to accelerate the development of intelligent technologies that improve healthcare, workplace safety and enterprise performance while demonstrating that globally competitive innovation can be conceived, engineered and scaled from South Africa.

The post Khoi Tech Accelerating AI Ambitions, Moving from Gadgets to SaaS appeared first on Tech | Business | Economy.

But hiring is stalling in several traditional sectors, while a few others are expanding and still absorbing workers.

Looking at recent labour data and employment reports, we see that jobs have not disappeared, but changed course.

Top Assets Nigerians Are Buying to Beat Inflation

Why Hiring Still Continues in a Weak Economy

Even in a period of economic downturn, companies are still recruiting for a few simple reasons:

• Demand for digital services has not stopped or reduced
• Ageing populations are increasing healthcare needs
• Automation and AI are creating new technical roles
• Supply chains are still adjusting after years of disruption
• Governments continue to invest in infrastructure and energy transition

What this means is that some sectors are cutting back, while others are expanding fast enough to offset the decline.

Top Industries Still Hiring in 2026

1. Technology and Artificial Intelligence

The tech sector is uneven, but demand for specialised skills is strong. Companies are not hiring extensively anymore, they are hiring carefully.

Roles in demand include:

• Data analysts
• AI engineers
• Cybersecurity specialists
• Cloud infrastructure experts

Even as some firms reduce headcount, others are expanding aggressively into AI-driven services and automation tools.

2. Healthcare and Social Care

Healthcare is still one of the most stable employers globally. Hospitals, clinics, and care facilities are recruiting due to:

• Ageing populations in many countries
• High demand for long-term care
• Ongoing staffing shortages

Nurses, caregivers, laboratory technicians, and medical support staff are in high demand.

3. Renewable Energy and Green Industries

Energy transition is already influencing employment.

Hiring is strong in:

• Solar and wind energy projects
• Electrical grid expansion
• Climate and environmental engineering

Investment from both governments and private firms support steady job creation in this space.

4. Logistics, Transport, and E-Commerce

Online shopping habits have permanently changed how goods move.

This sector hires in:

• Warehousing and inventory management
• Delivery and fleet operations
• Supply chain coordination

Even when consumer spending slows, the infrastructure behind online retail keeps expanding.

5. Finance and Fintech

Financial services are also adapting rather than shrinking.

Banks and fintech companies are hiring for:

• Digital payments systems
• Risk and compliance roles
• Fraud detection and cybersecurity

The transition toward mobile banking and cashless systems is still expanding.

6. Education and Online Learning

Education has become more flexible and digital.

There is high demand for:

• Online tutors
• Course creators
• Learning platform staff
• Corporate training specialists

People are also returning to upskilling as job competition increases.

What Skills Are Becoming More Valuable

Across all industries, employers are prioritising practical, adaptable skills over traditional qualifications alone.

The most requested skills include:

• Digital literacy
• Data handling and interpretation
• Familiarity with AI tools
• Communication and teamwork
• Problem-solving ability
• Remote collaboration tools

In many cases, the ability to learn quickly is more important than existing experience.

Where the Job Market is Not Focused on

It is important to note that hiring is not evenly spread.

Some sectors are reducing their pace:

• Retail and hospitality in some regions
• Entry-level white-collar roles
• General administrative positions

Reports also reveal that hiring has become more selective, with employers favouring experienced candidates over beginners in many industries.

What This Means for Job Seekers

This year, the job market is not affected by a lack of jobs, but by a mismatch between available roles and the skills people offer.

Job seekers need to follow these steps:

• Focus on industries still expanding
• Build skills linked to digital and technical roles
• Be open to hybrid or remote opportunities
• Apply early and consistently rather than broadly and randomly

The post Top Industries Still Hiring Despite Economic Challenges appeared first on Tech | Business | Economy.

At the start of 2025, Nigerian telecom subscribers faced a significant 50% increase in tariffs on voice, data, and SMS services.

This hike led to a decline of approximately one million internet users in February, as reported by the Nigerian Communications Commission (NCC).

Data consumption also dropped by 12% in the same month, reflecting consumers’ cautious usage in response to increased costs.

The tariff adjustments were attributed to escalating operational costs for telecom operators, driven by factors such as high inflation, currency devaluation, and increased energy expenses.

In 2023, MTN Nigeria reported losses of approximately ₦137 billion, while Airtel Africa experienced a 15.55% decline in Profit Before Tax, largely due to foreign exchange and energy-related losses.

Despite the higher costs, service quality issues persist. The NCC identified data depletion and billing issues as the top consumer complaints in 2024.

Dr. Aminu Maida, Executive Vice Chairman of the NCC, noted that the complexity of tariff plans and the impact of high-resolution devices contribute to these concerns.

To address this, the NCC issued a ‘Guidance for the Simplification of Tariffs,’ mandating operators to provide clear information on data plans and

Gbenga Adebayo, President of the Association of Licensed Telecom Operators of Nigeria (ALTON), acknowledged that many consumers are unaware of background data usage by smart devices, leading to unexpected data depletion.

He emphasized the industry’s commitment to transparency and consumer

The increased costs and service issues have led to a surge in subscribers switching networks. In January 2025, over 8,700 subscribers ported their numbers to different operators, a 190% increase from the previous month. 9mobile experienced the highest customer losses, while MTN, Airtel, and Globacom gained subscribers during this period

Despite these challenges, the telecom sector saw growth in active subscriptions, rising to 169.3 million in January 2025. MTN led with 87.5 million subscribers, followed by Airtel with 57.6 million, and Globacom with 20.5 million

Telecom Giants vs the People

Nigeria’s telecom operators have made significant investments in expanding broadband coverage, with initiatives like 4G and 5G rollout, fiber infrastructure, and partnerships with global tech firms. However, these investments are often driven by profit, not inclusion.

Despite NCC’s efforts to regulate pricing and improve service delivery, consumers regularly complain about data zapping, network downtimes, and non-transparent billing practices. Competition has done little to force down prices meaningfully, as all major players face similar infrastructural hurdles and operational costs.

A Call for Digital Justice

If Nigeria is serious about becoming a digital economy powerhouse, it must confront the high cost of connectivity head-on. This means investing heavily in:

• Rural broadband infrastructure
• Affordable data pricing models
• Improved electricity access
• Consumer protection regulations

Public-private partnerships must be strengthened to reduce costs while maintaining profitability. Local innovation in satellite internet, community Wi-Fi, and solar-powered connectivity hubs must be encouraged and scaled.

Conclusion: Connectivity Is a Right, Not a Privilege

The internet fuels education, commerce, healthcare, and governance. For Nigeria’s youths, startups, and underserved communities, access to affordable and reliable internet can mean the difference between opportunity and exclusion.

The cost of staying connected should not cost Nigerians their dignity, income, or peace of mind.

It’s time we reframe internet access in Nigeria not as a commercial commodity—but as a public utility, a human right, and a catalyst for national development.

The Path Forward

As Nigeria continues to embrace digital transformation, ensuring affordable and reliable connectivity is crucial. Stakeholders must collaborate to address infrastructural challenges, simplify tariff structures, and enhance service quality. Only then can the promise of a connected Nigeria be fully realized.

The post The Price of Staying Connected in Nigeria appeared first on Tech | Business | Economy.

Drawing in 754 registered participants from across Africa, HackOps 1.0 not only delivered on its promise to challenge developers to solve real-world problems but also demonstrated the potential of PipeOps as a deployment-first platform bridging the DevOps skills gap across the continent.

While participants brought energy, innovation, and determination, the success of HackOps 1.0 was made possible in part by a powerful panel of expert judges, each selected for their deep domain knowledge and experience in emerging technologies.

These individuals played a critical role in evaluating the over 150 submitted projects and selecting the top 25 teams that competed in the final round held in Lagos. 

Judges Brought the Bar of Excellence

The judging panel was strategically curated to mirror the diversity of the tech ecosystem and the hackathon’s core tracks: Michael Mekuleyi, Adora Nwodo, and Jeremy Brockett brought their deep cloud and infrastructure expertise to the DevOps & Cloud Engineering track, evaluating scalability, CI/CD practices, and deployment efficiency. Olatunji Fagbore, a leading voice in AI and IoT product management, judged solutions applying machine learning, data science, and embedded systems.

Cynthia Chisom, Samuel Ogbonyomi, and Jadesola Akinnusoye judged the Startup and Product Strategy track, assessing business viability, product-market fit, and user strategy. Abdullateef Abdul, General Counsel at Bumpa and Managing Partner at Goldlex Legal, provided legal oversight, reviewing submissions for regulatory compliance and IP protection.

Leke Ayodele and Ewere Diagboya led the judging on community growth and developer relations, focusing on open-source visibility, UI/UX quality, and user onboarding.

Oluwaleke Fakorede, CTO of Insomnia Labs and Co-founder of GoWagr, served as the sole judge, bringing his experience to the Blockchain Engineering track.

With years of experience building on protocols like Ethereum and Solana, Oluwaleke evaluated decentralized applications, smart contract architecture, and Web3 innovations.

His selection was crucial in a track with one of the rarest but most technically demanding skill sets.

Judges were chosen based on their excellence and experience in their respective fields. Each judge assessed projects, bringing their years of experience to the forefront and using a rubric tailored to their track, ensuring objectivity while maintaining high technical standards.

Real-World Problems, Real-World Impact

Participants were challenged to build solutions in five core sectors: healthcare, finance, education, project management, and travel and hospitality, using emerging technologies like blockchain, AI, etc.

Notably, over 60% of projects focused on healthcare and finance, with the top three teams (Bendan, Medix, and Isis) delivering standout innovations in medical records, AI-driven diagnostics, and health data management.

The judging team’s experience proved instrumental in identifying not just functional projects, but scalable and impactful ones.

A Platform for What’s Next

HackOps 1.0 wasn’t just about prizes and prototypes—it was about building confidence in the African developer ecosystem and offering a practical, scalable alternative to cloud deployment through PipeOps.

With over 36,000 CI/CD deployments, 714 vCPUs, and 3.6TB of server resources spun up, HackOps didn’t just test developers—it accelerated them.

As the PipeOps team plans for HackOps 2.0, one thing is clear: the bar has been set—and the judges helped build it.

The post HackOps 1.0: A Resounding Success Powered by 754 Builders | See Expert Judges Behind the Scenes appeared first on Tech | Business | Economy.

As of February 2025, Nigeria was home to over 430 fintech startups, making it one of the top countries in Africa for fintech innovation. In 2024, the sector attracted over $2 billion, as revealed in the 2024 Economic Report by the Office of the Special Adviser to Nigeria’s President on Economic Affairs (in the Office of the Vice President), dated November 2024. 

The digital payments market is projected to reach a total transaction value of $20.37 trillion by 2025. However, over 28 million of Nigeria’s population are still financially excluded, stressing a gap between fintech solutions and their economic impact.

The fintech surge is sweeping through the country, every corner seems to have a new app promising to help you send money, pay bills, or manage your finances. If you didn’t know any better, you’d think we were all rich by now, or at least financially savvy.

But let’s pause for a moment and consider the state of things. Despite the millions flowing into fintech, Nigeria’s infrastructure is still a disaster. We still have terrible roads, many fuming about how the healthcare system failed certain individuals, and lots of people without access to basic services like clean water and reliable electricity.

What good are mobile wallets when you can’t even get reliable internet in many parts of the country? How does digital payment help a farmer who can’t even get his crops to market because of the poor roads? We’ve hit a point where payments and wallets are no longer enough. It’s time we shifted focus to something way beyond—real infrastructure.

Fintech in Nigeria is big. It’s loud. It’s enticing. With startups like Paystack, Flutterwave, and OPay raising millions, you’d think we were on the brink of solving all financial challenges. 

Sure, it’s impressive—no one can deny that Nigerian fintech has grown into a powerful sector, with billions flowing in and digital payments becoming commonplace. But then, in the run to be the next big fintech unicorn, we’ve forgotten about everything else.

Truth be told, fintech is not a panacea. It might solve a part of the equation, but what happens when you fix payments but ignore the roads that get goods to market or the lack of access to basic healthcare? There’s a difference between convenience and systemic change. 

You can’t buy a road or build a hospital with a few clicks on your mobile wallet. Yet, somehow, that’s the narrative we’ve embraced—that as long as we have payment solutions, we’ve got it all figured out.

The Real Infrastructure Gaps in Nigeria

When you walk through Lagos or any major Nigerian city, you can see the divide between the fintech growth and the daily struggles of Nigerians. Let’s start with healthcare. Nigeria’s healthcare system is still in shambles despite innovations, and fintech solutions like mobile health apps are great, but they only scratch the surface. 

You need more than just a payment system to solve the issues. You need a network of well-funded hospitals, efficient health insurance, and accessible treatments for all. The kind of infrastructure that tech solutions can help build—but only if the focus moves away from just mobile payments.

Take transport. Anyone who’s tried to get through Lagos during rush hour knows how bad it is. It’s not just frustrating, it’s dangerous. Ride-hailing services like Uber or Bolt have made a difference, but they can only do so much when the infrastructure they depend on is barely functional. 

Poor roads, no traffic management, and outdated public transport systems all contribute to chaos on the streets. So, why isn’t tech doing something about this? Imagine smart traffic management systems, GPS-based public transport, or even digital tolls to ease congestion. These are the real changes that could change lives. But instead, we’re stuck in a loop of wallet apps and online payments.

Let’s not forget agriculture. Nigeria’s agricultural sector has lots of untapped potential, but it’s held back by poor infrastructure. Fintech might help farmers with digital transactions or access to microloans, but what happens when they can’t get their goods to market because of unreliable roads or lack of access to irrigation systems? Without the infrastructure to support it, all the fintech in the world won’t change the reality of Nigeria’s farmers.

The Case for Diversified Tech Investments

It’s time for tech to be broadened in Nigeria. Imagine an aggregate of startups equally focused on every sector, no aspect left out. 

While fintech has undoubtedly created an exciting industry, we need more than just digital wallets to move forward. What we need is a movement towards real infrastructure including healthcare, agriculture, transport and energy. 

It’s simple — tech is the solution, but it needs to be targeted at the real issues. Fintech is just one piece of the puzzle. And while it has its place, it can’t be the end-all-be-all solution. The focus needs to move towards building infrastructure that goes beyond supporting daily life to driving economic growth. Nigeria needs tech-driven solutions that address real, pressing issues like roads, healthcare, and energy.

If we want to build a country that thrives, we have to start with the basics. The infrastructure must come first, not just the apps.

The Economic and Social Value of Building Infrastructure

We usually talk about economic growth as though it happens in isolation. But the truth is, real growth comes from a thriving infrastructure—one that can handle the demands of a growing population, a diverse economy, and a dynamic digital world. 

Investing in infrastructure tech means not only boosting productivity but creating long-term job opportunities across various sectors, including construction, healthcare and tech. Imagine the job creation potential from building tech solutions for transport systems, smart cities, or sustainable agriculture.

The social impact is even higher. Tech infrastructure can reduce inequality by making essential services accessible to all Nigerians, not just those in urban areas with fast internet and mobile phones. From rural healthcare to improved farming techniques, tech can reach the farthest corners of the country, changing lives in ways that fintech alone cannot.

To make this happen, we need more than just private sector investment. The Nigerian government needs to step in with strong policies and incentives for infrastructure-driven tech. 

Public-private partnerships (PPPs) can be key in driving this forward. They can bring together the innovation of the tech sector with the experience and resources of the public sector to create sustainable solutions for healthcare, transport, and agriculture.

Also, we must invest in research and development to create scalable solutions that can be adopted across the country. We’ve seen how much can be achieved when the right partnerships are made; now it’s time to apply that energy to infrastructure. If we want tech to truly transform Nigeria, we need a long-term vision that goes beyond the quick wins of the fintech sector.

We’ve had our fun with fintech, but now it’s time to get serious. The sustainability of Nigeria doesn’t lie in the number of digital wallets we have or how many transactions we can process per second. It lies in building infrastructure that addresses real needs, improves lives, and drives sustainable economic growth. 

The fintech space may be overcrowded, but the field is still wide open for tech-driven infrastructure solutions. If we can get that right, we’ll be well on our way to creating a Nigeria that works for everyone, not just those with a smartphone and an internet connection.

It’s time to think bigger, think longer-term, and start building the real infrastructure that this country needs.

The post Nigeria’s Fintech Space is Getting Over-Saturated | It’s Time to Build Real Infrastructure appeared first on Tech | Business | Economy.

The selected startups—Medikea from Tanzania, Motherbeing from Egypt, Pixii Motors from Tunisia, and ToumAI from Morocco—will receive a combined $800,000 in pre-seed funding. Each company will receive $200,000, along with mentorship and opportunities for global networking.

Madica’s latest investments include a diverse range of industries, from healthcare and artificial intelligence to e-mobility.

• Medikea (Tanzania) – A healthtech startup providing instant access to healthcare services through its first-line clinics, aimed at bridging the gap in medical care accessibility.

• Motherbeing (Egypt) – A chat-based healthcare platform designed to support nursing mothers by providing timely and expert health-related guidance.

• Pixii Motors (Tunisia) – An e-mobility startup focused on developing electric motorcycles with swappable batteries, offering an innovative solution for urban transportation.

• ToumAI (Morocco) – A technology firm leveraging AI-powered voice analytics to help businesses extract key insights from customer interactions.

With this latest funding round, Madica has now invested $1.6 million across eight startups since its launch in 2022. The firm, backed by global venture capital firm Flourish Ventures, aims to support 30 African startups with $6 million by 2025.

Speaking on the new investments, Emmanuel Adegboye, head of Madica, revealed that the company set out to build a portfolio with at least 50% gender diversity in their leadership teams. “We are currently exceeding that goal in addition to a significant portion of our portfolio having female CEOs.”

This is the first time Madica is investing in North African startups, having previously focused on Southern and West Africa. Its earlier investments include startups like NewForm Foods, Kola Market, GoBeba, and Earthbond, which operate in quick commerce, food-tech, renewable energy, and B2B e-commerce.

With investments in high-growth sectors such as healthtech, AI, and e-mobility, Madica plans to help Africa’s innovation ecosystem scale up. The firm’s structured investment approach, which combines capital with hands-on mentorship and global immersion opportunities, aims to enable these startups to thrive on a path to long-term success.

The post Meet the Four African Startups Joining Madica’s Portfolio appeared first on Tech | Business | Economy.

The company has opened its first diagnostic clinic in Douala, Cameroon’s economic hub, going beyond Nigeria, especially given the recent economic challenges, such as the drop in the Naira’s value.

Founded in 2017, MDaaS provides a range of diagnostic services, including X-rays, ultrasounds, and laboratory tests, through its 16 clinics in Nigeria. 

The company also collaborates with 20 affiliated clinics, creating a healthcare network that spans 26 states in Nigeria. MDaaS has seen rapid growth, handling over 16,000 patient visits monthly and reaching profitability within the country. 

The expansion into Cameroon is not just a financial strategy but also a response to the increased demand for healthcare services in Francophone West Africa. 

Being a bilingual city, MDaaS selected Douala to provide smoother entry into a market that uses both English and French. 

MDaaS CEO Oluwasoga Oni explained, “We observed that customer service and efficiency in diagnostic centres were areas that could be significantly improved in Cameroon. Many patients there still have to return physically to collect results—a problem we’ve addressed in Nigeria through our tech-driven solutions.”

A large part of MDaaS’s success lies in its proprietary technology, which makes operations easier and enhances service delivery across its network. 

Over six years, the company developed a system that automates processes, reducing costs and enabling patients to undergo multiple tests in a single visit. 

This year has been one of its most successful, with commendable growth in Nigerian cities outside Lagos, including Ibadan, Ilorin, and Akure, which have shown strong demand for affordable diagnostic services.

MDaaS’s recent $3 million funding round, backed by Aruwa Capital Management, Newtown Partners, and Ventures Platform, has fuelled its expansion. 

With plans to leverage its Cameroonian experience, MDaaS aims to establish a wider presence in West Africa, making high-quality healthcare accessible to more Africans. 

“Our vision is to build healthcare for Africa’s next billion,” Oni shared, reiterating the company’s focus on addressing healthcare challenges on the continent through innovation, partnerships, and a patient-centric approach.

The post MDaaS Expands to Cameroon, Bringing Quality Healthcare to Africa’s Underserved Communities appeared first on Tech | Business | Economy.

These 2024 high-growth sectors are expected to continue driving economic expansion into 2025, making them focal points for investors, business leaders, and policymakers. 

Understanding the key drivers behind these trends — technological advancements, market demand, and policy support — is essential for stakeholders aiming to capitalise on investment opportunities.

In 2024, the global investment sector has been impacted by innovations in technology, healthcare, the push for sustainability, and the digital transformation of industries. 

Overview of 2024 High-Growth Sectors

Several sectors have become unignorable growth drivers in 2024, each receiving huge investment gains. These sectors include:

1. Technology

Growth Factors: With venture capital funding in AI startups reaching over $4.7 billion globally, the technology sector has been a great performer in 2024, driven by accelerated digital adoption across industries. 

The global AI market is projected to reach $190 billion by 2025, while overall spending on digital transformation is expected to hit $3.4 trillion by 2026, growing at a CAGR of 16.3% from 2023 to 2026. 

Key areas like artificial intelligence (AI), cloud computing, and cybersecurity are seeing huge investments and AI alone is projected to contribute over $15.7 trillion to the global economy by 2030. 

The semiconductor industry, a big enabler of AI and high-performance computing, has also seen huge investments. Nvidia, for example, reached a market valuation of over $1 trillion in 2024. This surge in semiconductor demand is expected to continue into 2025, particularly as industries such as automotive, healthcare, and telecommunications increase their reliance on AI technologies.

Major Players: Globally, companies like Microsoft, Meta, Google, and Nvidia have been at the forefront and have continued to invest heavily in AI research and development, focusing on areas such as generative AI, autonomous systems, and AI-driven analytics.

Locally, companies like Paystack, Flutterwave, Interswitch, Jumia, Konga and many others are leading growth in the technology sector. 

Investor Opportunities: Investors can tap into this sector by investing in tech startups, venture capital funds focused on technology, or established companies leading the AI, cybersecurity, and cloud computing spaces.

2. Renewable Energy

Growth Factors: The need for sustainability has kept the renewable energy sector growing in 2024, with investments surpassing $1.3 trillion. Global initiatives to transition to a low-carbon economy, supported by government policies, are driving this expansion. Solar and wind power remain the leading contributors, with battery storage and electric vehicles (EVs) gaining traction.

The U.S. Inflation Reduction Act (IRA), along with similar initiatives in Europe and Asia, has ensured this move toward clean energy. Global investments in solar power alone are expected to surpass $500 billion by the end of 2024, driven by corporate commitments to reducing carbon emissions and meeting sustainability goals.

In addition, energy storage solutions, particularly battery technologies, have attracted over $90 billion in investment globally. With electric vehicles (EVs) and renewable energy generation increasing, the demand for energy storage is expected to grow exponentially in 2025.

Major Players: Tesla, Vestas, and NextEra Energy are among the leaders globally. In Nigeria, Arnergy, TotalEnergies and Daystar Power, among others are leading renewable energy innovations. Tesla continues to expand its solar energy division, while Vestas secured contracts worth over €2 billion in 2024.

Investor Opportunities: Opportunities for investors include green energy projects, renewable energy stocks, or funds focused on sustainability. Local initiatives in regions like Nigeria provide additional growth potential.

3. Healthcare

Growth Factors: The healthcare sector, particularly biotech and digital health, is another high-growth sector that saw investment scale in 2024. Global funding in digital health reached $5.7 billion in the first half of the year alone. 

Advances in biotechnology, such as gene editing, personalized medicine, telemedicine, health apps and wearable health tech are bolstering healthcare delivery, with investments expected to exceed $100 billion in 2024.

The total funding for 2024, projected to reach $40 billion, could exceed the year-end totals of 2019 and 2023, which were $8.2 billion and $10.7 billion, respectively.

Major Players: Companies like Moderna, Pfizer, and CRISPR Therapeutics lead globally, while in Nigeria, Axa Mansard Health Insurance, Medsaf, Healthtracka and Helium Health, among others continue to pioneer health innovations.

Investor Opportunities: Investors can focus on biotech firms, healthcare startups, or healthcare funds. Given the ongoing innovation in telemedicine, healthtech platforms are also worth considering.

4. Telecommunications

Growth Factors: Telecommunications has been another high-growth sector, with global 5G connections approaching close to 2 billion by the end of 2024. The sector’s expansion is being driven by the global rollout of 5G and increased demand for faster, more reliable connectivity. The market for 5G is projected to grow at a CAGR of around 60% from 2024 to 2030.

Increased demand for data storage has boosted investments in data centres, with the global data centre market expected to grow from $220 billion in 2024 to $300 billion by 2027. This is particularly strong in regions like Africa and Asia-Pacific.

Major Players: Globally, major firms like Ericsson, Huawei, Qualcomm, MTN, and Airtel among others are driving 5G expansion. Nigeria’s telecommunications sector saw commendable investment, reaching $191.57 million in Q1 2024.

Investor Opportunities: Investors can target 5G infrastructure, telecom companies, or data centre developments. The growth of the Internet of Things (IoT) and smart cities presents further investment avenues.

5. E-commerce and Consumer Goods

Growth Factors: E-commerce has maintained its upward drive in 2024, with global sales expected to hit $6.3 trillion by the end of the year. Emerging markets have contributed to this surge, while advancements in logistics and last-mile delivery solutions have further driven the growth.

Digital marketing, e-commerce innovations, and direct-to-consumer (D2C) models have gained traction in 2024. The focus on efficiency in supply chains and consumer goods strategies is expected to persist into 2025.

Major Players: Amazon and Alibaba continue to lead globally. In Nigeria, Jumia and Konga remain strong e-commerce players. Logistics firms are seeing growth, and in 2024, FMCG and electronics investments surged as consumer goods companies embraced omnichannel strategies.

Investor Opportunities: Opportunities lie in investing in logistics, e-commerce platforms, or consumer goods companies to enhance their digital presence.

6. Financial Services

Growth Factors: The financial services sector is evolving with fintech innovations and digital banking. The global fintech market is expected to grow at a CAGR of 25% to 28% from 2023 to 2028.

Major Players: International and local fintech companies like JPMorgan Chase, Stripe, Revolut, Flutterwave, Paystack Opay, PiggVest and traditional banks adapting to new trends.

Other sectors like agriculture and IT services attracted $15.8 million and $171.7 in Q1 2024 respectively. 

How AI is Transforming Financial Services

What Business Leaders Should Know: 85 Days to 2025 

So many scholars, thought leaders, and philosophers have discussed the subject matter of time. Of profound note among them is Lao Tzu, the ancient Chinese philosopher and writer, who aptly noted that “Time is a created thing.” 

According to him, to say one does not have time is like saying one does not want to. Thus, as we write about the all-important topic of time and how it flies—being used, spent, or invested—we are again face-to-face with the ephemerality of time. In this context, one can easily reflect on and learn from the quality of thoughts of politicians, businesspeople, and entrepreneurs.

For instance, politicians and business leaders approach decision-making differently due to their contexts. While politicians focus on short-term electoral cycles, prioritizing immediate results to secure votes, business leaders engage in longer-term strategic planning for sustainable growth. 

They also differ in accountability. Politicians answer to voters, influencing decisions based on public opinion, whereas business leaders report to shareholders, allowing for more calculated risk-taking.

Thus, decision-making processes vary, with politicians navigating complex negotiations and public sentiment, while business leaders enjoy greater autonomy. Overall, these distinctions shape their priorities, with politicians often reacting to social issues and business leaders focused on profitability and innovation.

So, what do business leaders, entrepreneurs, and forward-looking individuals need to know as we approach 2025? In the tech world, advancements in artificial intelligence and machine learning, the rollout of 5G networks, increased focus on sustainability and green technology, growing cybersecurity needs, progress in quantum computing, the rise of edge computing, and the growth of remote work technologies are all critical areas to watch.

In the same vein, critical sectors such as renewable energy will benefit from increased government commitments to net-zero emissions and renewable energy targets, stimulating investments and initiatives aimed at expanding renewable sources. Technological advancements in energy storage, grid management, and renewable technologies, such as solar and wind, will enhance efficiency and reduce costs, making these options more competitive.  

Corporate sustainability goals will pressure businesses to adopt clean energy solutions while rising public awareness of climate change will drive consumer demand for renewables. Additionally, investment in infrastructure, including smart grids and electric vehicle (EV) charging networks, will facilitate the integration of renewable energy.

What about the financial services sector? Digital transformation will continue to be a major growth driver, with consumers increasingly favouring online and mobile banking for convenience. Regulatory changes promoting open banking and enhancing consumer protection will encourage innovation and competition. 

Furthermore, the growing interest in environmental, social, and governance (ESG) factors will push financial institutions to develop sustainable investment products. The acceptance and regulation of cryptocurrencies and blockchain technology will create new financial offerings while rising investments in cybersecurity will be crucial as digital services expand.

To capitalize on Africa’s technological landscape, businesses should leverage mobile growth, with unique mobile subscribers projected to reach 623 million by 2025. The fintech sector, which attracted nearly $4 billion in 2021, is expected to reach $10 billion by 2025, addressing the 66% unbanked population. 

With over 300 tech hubs and startup funding rising to $2.4 billion in 2020, ensuring a resilient ecosystem is important. Additionally, investing in education is essential, as Africa needs 230 million new jobs by 2030. By embracing these strategies, entrepreneurs can drive economic growth and improve livelihoods across the continent.

Meanwhile, in healthcare services, the ongoing expansion of telehealth and remote patient monitoring will improve access to care, driven by demand for convenience and safety. An ageing global population will increase the need for healthcare services, particularly in geriatrics and chronic disease management, leading to innovative care delivery models. 

Advancements in health technologies, including artificial intelligence and personalized medicine, will revolutionize diagnostics and treatment. Growing awareness of mental health issues will further drive demand for mental health services and digital therapy platforms.

DG NITDA Pledges Continued Support to Startups Advancing AI Research

A Deep Dive into Regional Specifics

In terms of investment, North America leads in AI research and investment, particularly in health tech and cybersecurity. Europe is focusing heavily on sustainability and digital transformation, while Asia-Pacific is advancing rapidly in IoT, e-commerce, and fintech.

Renewable energy in North America benefits from strong government incentives and a growing commitment to climate goals, providing a favourable environment for investments. Technological advancements in solar and wind energy, along with innovations in energy storage, are set to enhance efficiency and lower costs. Europe is leading the way in renewable energy adoption, supported by ambitious climate targets and significant investment in infrastructure. 

The European Green Deal presents opportunities for innovation and job creation in green technologies. In Asia-Pacific, rapid urbanization and energy demand in countries like China and India present significant opportunities for renewable energy deployment, particularly in solar and wind. Government initiatives aimed at improving energy access in rural areas can drive investment.

Where Do We Go From Here?

Moving forward, the resounding question is: how can business leaders, entrepreneurs, and forward-thinking individuals make sense of this wealth of information? Business leaders can position their organizations to capitalize on opportunities while mitigating uncertainties and challenges through several strategic approaches. 

First, investing in robust market research and analysis is essential for identifying trends, consumer needs, and emerging technologies, which helps anticipate market shifts and informs product development.

Diversifying product or service lines further reduces dependence on a single revenue stream, allowing the business to tap into multiple growth areas and spread risk across different markets. Forming strategic partnerships and alliances enhances capabilities and provides access to innovative technologies, but clear agreements are essential to manage expectations.

Another point of emphasis is adopting an agile business model, which allows for quick pivots based on market feedback, enhancing responsiveness to opportunities and encouraging continuous improvement. 

Additionally, investing in the latest technologies and infrastructure streamlines operations and positions the business as a leader in innovation, provided investments align with strategic goals. A comprehensive risk management framework is vital for identifying, assessing, and mitigating potential risks, and increasing organizational resilience through regular reviews and updates.

At the organizational and personal levels, focusing on talent development by investing in employee training builds a skilled workforce capable of adapting to new challenges, enhancing engagement and retention. Finally, cultivating a customer-centric approach prioritizes understanding and meeting customer needs, which builds loyalty and informs product development.

In conclusion, Africa presents a unique environment for technological advancement, driven by mobile technology, fintech, and an active startup culture. Leveraging these opportunities will enable businesses to significantly impact the continent’s economic growth and improve livelihoods for millions.

The post 2024’s High-Growth Sectors and 2025 Prospects appeared first on Tech | Business | Economy.

With over two decades of experience in the healthcare industry, Brown will drive the company’s expansion in the US maternal healthcare market.

His background in implementing innovative healthcare systems, especially in the maternal and fetal care sectors in the US, enables him to be well-placed for his new role.

Commenting on his appointment, Brown noted that he is thrilled to collaborate with a team focused on advancing maternal healthcare. 

He stated, “I am thrilled to be part of Sonio at such a pivotal time. Working with a team that shares my passion for improving maternal care is truly inspiring. Together, we aim to bring quality care to families across the US.”

In addition to this appointment, Sonio has also announced that its CEO and co-founder, Cecile Brosset, is relocating from the company’s headquarters in Paris to Boston. 

This points to Sonio’s focus on its US expansion strategy, with Brosset taking a hands-on approach in working closely with the US team. 

On Brown’s appointment, Brosset stated that his experience and familiarity with Sonio’s products will be essential in their efforts to expand in the competitive US market.

Together, Brown and Brosset aim to make maternal care more accessible, furthering Sonio’s mission to transform healthcare for mothers and their children. Their combined leadership will focus on ensuring better outcomes through innovative healthcare solutions.

Sonio’s platform is designed to improve the workflow of prenatal care by providing advanced tools for ultrasound practitioners. It integrates years of research in fetal medicine to enhance the quality and efficiency of prenatal examinations, ultimately ensuring thorough and accurate diagnoses.

The post Sonio Appoints Niel Brown as Director of Operations to Lead US Maternal Healthcare Expansion appeared first on Tech | Business | Economy.