African startups look beyond fintech for next growth wave

African startups are increasingly looking beyond fintech to harness the growth potential of artificial intelligence, a shift highlighted by venture capital firm Gullit VC. For over a decade, fintech has been the dominant force in the continent's tech scene, driving digital payments, mobile banking, and lending. This sector has not only attracted substantial investment but also built the digital infrastructure crucial for broader economic participation.

Gullit VC suggests the next significant value creation will stem from the synergy between fintech and AI. Startups are expected to combine existing financial infrastructure with intelligent systems to offer more efficient, predictive, and personalized solutions. "The biggest opportunities in Africa are emerging where technology and infrastructure intersect," stated Hiruy Amanuel, Managing Director of Gullit VC, emphasizing the firm's focus on businesses addressing real economic challenges.

“

The biggest opportunities in Africa are emerging where technology and infrastructure intersect.

Fintech's role in creating digital platforms and generating vast financial data has laid a strong foundation for AI's advancement in Africa. While fintech remained the largest startup category in 2025, attracting about a quarter of total venture capital, AI is seen not as a replacement but as an intelligence layer to enhance current systems. Gullit VC anticipates AI applications will concentrate on solving tangible problems in sectors such as financial services, agriculture, healthcare, and logistics, adapting to local market realities rather than focusing on large-scale models typical of Silicon Valley.

“

Before intelligent systems can create meaningful value, there must first be infrastructure.