A leading provider of electronic payment solutions, Remita, has released a report, projecting the country’s Artificial Intelligence, AI, market to reach $434.4 million by 2026, growing at a staggering 44.2 per cent compound annual growth rate, CAGR.
In a statement on Thursday, the company noted that Nigeria’s fintech sector is expanding rapidly, commanding 52 per cent of Africa’s total fintech funding and housing five of the continent’s nine unicorns as at 2024.
“According to industry data, the sector has played a significant role in doubling financial inclusion rates from 32% in 2012 to 64% in 2024 – a 100% increase in financial inclusion within a decade.