Nigerian Startup wins Fintech Prize at GITEX Africa

 

A Nigerian startup has emerged best in the Fintech and Blockchain category of the Supernova Challenge at GITEX Africa, Morocco.

The startup Nearpays Technology Limited was awarded a cash prize of 10,000 US Dollars and free all-expenses trip to GITEX Global to be hosted by the Dubai World Trade Center in the United Arab Emirates, in October, 2023.

Nearpays is a full-service financial payment platform that acts as an end-to-end financial service for clients. It has various features to simplify online payments as much as possible, based on the principle that payments should be seamless.

 

It also offers a wide range of services including personal and corporate banking, virtual debit cards, and online banking.

The platform, founded by Victor Daniyan, uses blockchain technology to create a decentralised payment and makes the network more secure and efficient than traditional payment systems.

As a fintech payment company that seeks to promote financial inclusion by making card transactions more accessible and convenient through the use of NFC and scan-to-pay technology.

Director General NITDA, Kashifu Inuwa commended Nearpays for putting Nigeria’s name on the global stage.

Inuwa restated that the Nigerian government was committed to creating a favorable environment for startups and that it would continue to support the sector.

The NITDA Boss further said that the federal government has made a number of policies in recent years, particularly the National Digital Economy Policy and Strategy, NDEPS that provides a favorable environment for digital innovation and entrepreneurship to thrive.

The CEO and Co-founder of Nearspays, Victor Daniyan, while appreciating the honour, says the award is a “significant milestone” for the company and that it would “help us to further accelerate our growth and expansion plans.”

According to NITDA, Nearpays’s victory at GITEX Africa Morocco is a sign of many things to come for the Nigerian startup ecosystem, especially now that the Nigeria Startup Act is in the implementation stage.

The country has a large and growing population of young and tech-savvy entrepreneurs. With the support of the government, these entrepreneurs are poised to make a significant impact on the global economy.

Sixty-seven Nigerian startups participated at inaugural edition of GITEX Africa, which reaffirmed the country’s burgeoning tech ecosystem, and provided a platform for them to exhibit their cutting-edge ideas, gain invaluable exposure from the global tech community, and attract potential investments that will catalyze Nigeria’s digital economy.