Fintech companies across Africa are deepening their adoption of artificial intelligence (AI) to improve efficiency, enhance customer experience, and scale innovation.
The growing integration of AI reflects broader changes in the continent’s digital economy, as companies leverage data-driven tools to improve productivity and reduce operational risk.
This trend was also the focus of the second edition of Sundown Sessions, a knowledge forum hosted by Lagos payments infrastructure company Kora, where entrepreneurs and technology leaders explored how AI is reshaping business and creative ecosystems across Africa.
Experts at the event said AI has become an operational necessity rather than an experimental tool. In financial services, AI is being deployed to streamline fraud detection, automate customer support, and enhance data analysis. Similar applications are emerging in agriculture, manufacturing, and creative industries, suggesting that the technology’s impact could extend beyond the fintech sector.
Somtochukwu Ifezue, co-founder and CEO of PiggyVest, said during a panel discussion on “How AI is reshaping Africa’s business models” that the company is integrating AI tools to improve internal efficiency and team learning. “AI can help accelerate processes and make better use of data,” he said.
Onyinye Olisah, CEO of Onus Financial Services, emphasized that the benefits of AI depend on human direction. “AI is powerful, but it can only work to the extent we guide it. If people stop bringing creativity and insight, AI will replace them,” she said.
Buchi Okoro, CEO of Quidax, noted that financial companies need to implement responsible AI frameworks to protect customer information. “Data protection is at the heart of trust in financial services. We have clear internal AI policies to ensure responsible use and protect user data,” he said.
Beyond fintech, panelists identified opportunities in agriculture, journalism, and manufacturing. Industry expert Frank Attat pointed to agriculture as a growing area for AI applications, giving examples of the use of AI in soil testing, yield prediction, and smart crop management.
Similarly, Ugodre Obi‑Chukwu, founder of Nirametrics, emphasized the usefulness of AI in data analysis and content drafting in newsrooms, while emphasizing the continued role of human editors in ensuring accuracy and originality.
Changes can also be seen in the creative department. Ifeanyi Nwunne, Creative Director of IN Official Limited, said in a fireside conversation that AI has become an important design partner in fashion.
“AI only threatens those who stop innovating. AI helps us work faster and visualize ideas better,” he said.
Yinka Ash, founder of Ashcorp Group, added that human experience remains at the heart of creativity. “AI can automate tasks, but it can’t feel,” he says. “With this as a partner, we can be better competitive globally.”
In his keynote address, Iyinoluwa Aboyeji, founding partner of Future Africa, urged startups to apply AI-driven innovation beyond the fintech space alone.
“There’s a lot to build on,” he said. “Digital finance, trade and governance all depend on the digital infrastructure that connects us. But millions of Africans still do not have access to reliable internet, and that is the real challenge.”
According to McKinsey data, AI adoption in Africa’s financial services industry could increase productivity by up to 30% over the next decade as automation and predictive analytics reduce fraud and improve customer acquisition.
The International Finance Corporation (IFC) also estimates that AI could add up to $1.3 trillion to African economies by 2030 if it is effectively implemented in key sectors.
Kora CEO Dickson Nsofor said the company’s motivation for holding such discussions is to help shape responsible hiring.
“AI is driving a new phase of digital growth in Africa,” he said. “Progress happens when technology and community meet.”
