Nigerian Fintech Nearpays Wins UN AI for Good Crown, Beating 500 Rivals

Nigeria's fintech startup Nearpays has become the first African company to win the grand finale of the UN's AI for Good Innovation Factory, defeating more than 500 startups from around the world, according to Business Day (13 July 2026). The victory came at the United Nations' AI for Good Global Summit in Geneva, organised by the International Telecommunication Union (ITU) alongside other UN agencies. Nearpays advanced from the African regional finals in Johannesburg to the global semi-finals and grand finale, where it emerged as the overall winner. The company 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, and can operate both online and offline — a design suited to network disruptions in rural and underserved communities. The win marks the first time an African startup has claimed the competition's highest honour, underlining a shift in how African technology companies are moving from users of innovation to creators of globally recognised solutions. It also reinforces Nigeria's growing reputation as one of the continent's leading centres for fintech innovation. Source: Business Day — Royal Ibeh, "Nigerian startup beats 500 rivals to give Africa first UN AI innovation crown," 13 July 2026 (businessday.ng/technology/article/nigerian-startup-beats-500-rivals-to-give-africa-first-un-ai-innovation-crown/). Correction policy: Source Reporters corrects errors promptly and maintains a public record of corrections. If you spot an inaccuracy, contact the newsroom.