Nigerian Startup Nearpays Wins Big At GITEX Africa Morocco

Nigerian Startup Nearpays Wins Big At GITEX Africa Morocco

In today's Latest Business and Technology news in Npower discussion group blog, Nigerian Startup Nearpays Wins Big At GITEX Africa Morocco. Read details below!

In a remarkable display of innovation and entrepreneurship, a Nigerian startup, Nearpays Technology Limited has emerged best in the Fintech and Blockchain category of the Supernova Challenge at GITEX Africa, Morocco. Nearpays 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.

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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. Nearpays is currently making inroads into the Nigerian market aims to expand into other African markets and has plans to launch its services in Europe and the United States in the near future.

Kashifu Inuwa CCIE, Director General of the National Information Technology Development Agency (NITDA), commended Nearpays for, yet again, putting Nigeria’s name on the global stage, adding that the victory was a “proud moment for Nigeria and that it was a testament to the hard work and dedication of the company's founders and team

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

The government is committed to creating a conducive environment for the growth of the startup ecosystem. We will continue to provide support to startups through enabling policies, programs, and initiatives", he added.

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He further said that the Nigerian 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. In addition, the Nigerian government equally enacted the Nigeria Startup Act (NSA) to provide an enabling environment for the establishment, development and operation of startups in Nigeria.

The government's policies have helped to attract investments in the Nigerian digital economy sector and have led to the growth of a number of thriving startups, such as Nearpays. The government's continued support for the sector is helping Nigeria to become a leading hub for talent and innovation in the world.

The success of Nearpays is a testament to the potential of the Nigerian startup ecosystem. 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, he added.

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

He also said that it was "an honour to represent Nigeria at the global stage" and that they are “committed to using technology to solve some of the most pressing challenges facing Africa.

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.

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Sixty-seven (67) 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.

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 poised to drive a transformative change, positioning the country at the forefront of technological innovation in Africa and beyond.