African startups are looking beyond fintech for the next phase of growth as artificial intelligence emerges as a critical technology shaping the continent’s innovation landscape, according to venture capital firm Gullit VC.
For more than a decade, fintech has dominated Africa’s technology ecosystem, driving the expansion of digital payments, mobile wallets, lending platforms, agency banking and other financial services. The sector has become one of the continent’s strongest startup categories, attracting significant investment and creating the digital infrastructure that supports wider participation in the economy.
However, Gullit VC argues that the next wave of value creation will come from the convergence of fintech and AI, with startups combining financial infrastructure with intelligent systems to develop more efficient, predictive and personalised solutions.
“The biggest opportunities in Africa are emerging where technology and infrastructure intersect,” Managing Director of Gullit VC, Hiruy Amanuel, said, highlighting the firm’s investment focus on businesses building technology solutions around real economic challenges.
The firm said fintech has laid the foundation for Africa’s AI opportunity by creating digital platforms and generating vast amounts of financial data that can be used to develop smarter systems.
According to Partech Africa, fintech remained the largest category for African startups in 2025, accounting for about a quarter of total venture capital raised on the continent. The continued investor interest underscores the sector’s role as a key component of Africa’s digital economy.
Gullit VC said artificial intelligence should not be viewed as a replacement for fintech but as an intelligence layer that can improve existing systems and unlock new opportunities across sectors.
“Before intelligent systems can create meaningful value, there must first be infrastructure,” the firm said, noting that fintech has built many of the rails required for AI‑powered services.
The investment firm expects AI applications in Africa to focus less on developing foundational technologies and more on solving practical challenges in sectors such as financial services, agriculture, healthcare and logistics.
In financial services, AI could help address persistent challenges, including limited credit histories, costly risk assessments and fraud, enabling businesses and individuals previously excluded from traditional systems to access more tailored services.
Unlike Silicon Valley, where AI development is often centred around large‑scale models and productivity tools, Africa’s AI opportunity is expected to be driven by applications designed around local market realities, Gullit VC said.
The firm noted that successful African AI companies may not necessarily position themselves as AI businesses but could embed artificial intelligence into products that solve everyday problems.
“As Africa enters its next technology cycle, the distinction between fintech companies and AI companies may become less important,” Gullit VC said. “The companies that succeed will be those that combine financial infrastructure with intelligent systems to improve how economies function.”
The shift reflects a broader evolution in Africa’s startup ecosystem, where investors are increasingly looking beyond rapid user growth towards businesses building sustainable infrastructure and long‑term economic value.
Gullit VC said the continent’s next generation of technology companies will be defined not by following global technology trends but by adapting innovation to local needs.
“Fintech laid the foundation. AI can make that foundation smarter,” the firm said, positioning the convergence of both technologies as a potential driver of Africa’s next innovation cycle.
