In a remarkable demonstration of innovation and entrepreneurship, Nearpays Technology Limited, a Nigerian startup, has emerged as the winner in the Fintech and Blockchain category of the Supernova Challenge at GITEX Africa, Morocco.
Nearpays was presented with a cash prize of $10,000 and an all-expenses-paid trip to GITEX Global, which will be hosted by the Dubai World Trade Centre in the United Arab Emirates in October 2023.
Nearpays is a comprehensive financial payment platform that provides end-to-end financial services for its clients. Its various features aim to simplify online payments, with the belief that transactions should be seamless. Additionally, Nearpays offers a wide range of services including personal and corporate banking, virtual debit cards, and online banking.
The platform’s founder, Victor Daniyan, established Nearpays with the use of blockchain technology to create a decentralized payment system that enhances network security and efficiency compared to traditional payment methods.
As a fintech payment company, Nearpays strives to promote financial inclusion by making card transactions more accessible and convenient through NFC and scan-to-pay technology. Currently, Nearpays is making significant strides in the Nigerian market and has plans to expand into other African markets, as well as launch its services in Europe and the United States in the near future.
The director-general of the National Information Technology Development Agency (NITDA), Mallam Kashifu Abdullahi praised Nearpays for placing Nigeria on the global stage once again. He described the victory as a proud moment for Nigeria, acknowledging the hard work and dedication of the company’s founders and team.
Abdullahi also expressed the Nigerian government’s commitment to creating a favourable environment for startups and stated that continuous support would be provided to the sector.
“Our government is dedicated to establishing a conducive environment that fosters the growth of the startup ecosystem. We will continue to support startups through enabling policies, programs, and initiatives,” he added.
The NITDA boss further emphasized that the Nigerian government has implemented several policies, including the National Digital Economy Policy and Strategy (NDEPS), which create favourable conditions for digital innovation and entrepreneurship to thrive. Additionally, the Nigeria Startup Act (NSA) has been enacted to provide a conducive environment for the establishment, development, and operation of startups in Nigeria.
“The government’s policies have attracted investments in Nigeria’s digital economy sector and have contributed to the growth of several thriving startups like Nearpays. The government’s unwavering support for the sector is propelling Nigeria to become a leading hub for talent and innovation worldwide,” Abdullahi explained.
The CEO and co-founder of Nearpays, Daniyan expressed his gratitude for the honour and described the award as a significant milestone for the company. He believes it will accelerate their growth and expansion plans.
Representing Nigeria on the global stage is an honour for Nearpays, and Daniyan reiterated its commitment to using technology to address Africa’s most pressing challenges.
Nearpays’s victory at GITEX Africa Morocco serves as a promising sign for the Nigerian startup ecosystem, especially with the implementation of the Nigeria Startup Act. Nigeria possesses a large and growing population of young, tech-savvy entrepreneurs who, with government support, are poised to make a substantial impact on the global economy.
A total of 67 Nigerian startups participated in the inaugural edition of GITEX Africa, underscoring the country’s flourishing tech ecosystem. The event provided a platform for these startups to showcase their cutting-edge ideas, gain invaluable exposure from the global tech community, and attract potential investments that will catalyze Nigeria’s digital economy.
As Nigerian startups continue to shine on the global stage, they are reshaping the narrative around Africa’s tech potential. With their innovative ideas, entrepreneurial drive, and the support of the government and international investors, Nigerian startups are well-positioned to drive transformative change, establishing the country at the forefront of technological innovation in Africa and beyond.