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The Governments and financial-sector regulators have backed a new GITEX platform designed to accelerate financial innovation across Africa and expand opportunities for businesses, investors and technology companies
The platform, MINT AFRICA by GITEX, was unveiled in Lagos with the support of the Lagos State Government and is scheduled to make its full debut during GITEX NIGERIA Week 2027
The initiative will bring together governments, regulators, banks, institutional investors, fintech companies and technology firms to address the rapid convergence of finance and technology across the continent
For micro, small and medium-sized enterprises (MSMEs), the platform could create opportunities for improved access to digital financial services, alternative funding channels, digital payments and other technology-driven financial solutions
The launch comes as technologies such as artificial intelligence, tokenisation, stablecoins, digital identity and programmable money reshape financial services and create new opportunities for businesses operating in Africa’s digital economy
The Deputy Governor of Lagos State, Dr Kadri Hamzat, said Lagos was selected to host the platform because of its growing commercial and technology ecosystem, including its market size, capital base and entrepreneurial activity
Lagos State Commissioner for Innovation, Science and Technology, Tunbosun Alake, said Africa needed more platforms that could connect financial innovation with investment and commercial opportunities
“Africa doesn’t have a shortage of financial innovation. It has a shortage of the conversations that turn innovation into signed deals,” Alake said
MINT AFRICA will focus on areas including tokenisation and real-world assets, artificial intelligence and intelligent banking, stablecoins and digital currencies, next-generation payments, digital identity, cybersecurity, financial infrastructure, cross-border interoperability, regulatory innovation and capital markets
The organisers said the platform would help bridge the gap between technological innovation and the capital, infrastructure and regulation required to deploy new financial solutions at scale
The initiative comes as Africa’s digital payments economy continues to expand, with the market projected to reach $1.5 trillion by 2030, according to figures cited by GITEX
Despite improvements in financial inclusion, significant gaps remain in access to formal credit, particularly for smaller businesses
Data cited by the organisers showed that adult account ownership in Nigeria increased from 45.3 per cent in 2021 to 63.3 per cent in 2024, while only 9.1 per cent of adults borrowed through formal financial channels
The Technical Adviser to the President on Economic and Financial Inclusion, Dr Nurudeen Zauro, said deeper financial-sector participation, greater formalisation of the informal economy and improved access to funding for MSMEs would be essential to Nigeria’s ambition of building a $1 trillion economy
For MSMEs, greater access to formal financial services could help businesses move beyond cash-based transactions, establish financial records, access credit and participate more effectively in digital commerce
Speakers at the event also stressed that Africa’s ability to benefit from emerging financial technologies would depend on the development of reliable infrastructure and effective regulatory frameworks
The Special Adviser on Technology, Broadband and Innovation to the Lagos State Governor, Engr Ganiyu Oseni, identified connectivity, electricity, digital identity and talent as essential infrastructure for Africa’s digital economy
The growing use of digital assets also presents regulatory challenges, particularly as transactions increasingly cross national borders
Tahiru Al Hassan, Head of Oversight and Compliance at the Virtual Assets Department of the Bank of Ghana, said stronger regulatory coordination among African countries would be necessary to prevent fragmented digital-asset markets and support interoperability
The Chief Executive Officer of the Ministry of Finance Incorporated, Dr Armstrong Takang, also stressed the need for Nigerians to participate actively in emerging digital-asset markets as technologies such as tokenisation create new ways of owning and investing in assets
GITEX CEO Trixie LohMirmand said Nigeria’s large fintech ecosystem, market size and technology talent made Lagos a natural location for MINT AFRICA
The platform is expected to broaden discussions beyond traditional fintech to the wider transformation of money and financial markets through artificial intelligence, tokenisation, programmable finance and increasingly borderless financial systems
For African MSMEs and fintech startups, the development could provide a platform for connecting with investors, financial institutions, regulators and technology partners as the continent’s financial ecosystem evolves
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