The Managing Director of Microsoft Nigeria and Ghana Ola Williams, has said Nigeria is poised to lead Africa’s next tech revolution, noting that the country has emerged as a powerhouse of innovation and growth in mobile financial services.
According to Williams, Africa now boasts over 1.1 billion registered mobile money accounts, cementing its status as the global epicenter of financial inclusion through mobile technology.
In 2023 alone, West Africa contributed more than a third of the world’s new and active mobile money accounts, largely propelled by Nigeria’s fast-digitizing economy.
“Mobile money wasn’t just about convenience—it reshaped livelihoods, expanded financial access, and lifted GDP,” Williams said. “Now, with AI emerging as the next GPT, Nigeria stands at the threshold of another transformative era.”
Between 2011 and 2021, financial access in Nigeria jumped nearly 16 percent, driven by innovators like Flutterwave, OPay, and Paga.
“Mobile money taught us that local relevance is everything,” Williams said. “For AI to succeed, it must tackle real-world problems and serve people in meaningful ways.”
Regulatory support played a crucial role in mobile money’s rise. The Central Bank of Nigeria (CBN) implemented a strong framework emphasizing Know Your Customer (KYC) and Customer Due Diligence (CDD), which ensured secure and inclusive services. Experts say similar regulatory foresight is needed for AI.
“Public trust is vital,” said Dr. Ifeoma Nkem, a digital policy consultant. “AI governance must be built on ethics, transparency, and real societal value. People must see and feel the benefits.”
“AI capabilities are doubling every six months,” Williams noted. “Nigeria must move quickly, and public-private partnerships will be key to building scalable infrastructure.”
