Africa’s growing participation in the global artificial intelligence (AI) revolution must be matched by responsible adoption, effective governance and investment in local technological capabilities, speakers at the Zenith Bank Tech Fair 2026 have said.
The sixth edition of the annual technology event, themed “AI: Embrace or Extinct,” held on Thursday, November 5, 2026, in its first-ever fully virtual format, brought together financial industry leaders, government representatives, regulators, technology experts, entrepreneurs and innovators to discuss AI’s growing influence on businesses and society.
Conceived by Zenith Bank founder Dr Jim Ovia, CFR, to empower young Nigerians through technology, the event centred on the opportunities and risks of AI adoption, particularly the need for African businesses and institutions to develop solutions that address local challenges.
Conceived by Zenith Bank founder Dr Jim Ovia, CFR, the event centred on the opportunities and risks of AI adoption, particularly the need for African businesses and institutions to develop solutions that address local challenges.
John O. Abdullahi, AIBase AI Tech Reporter, attended the virtual event and monitored discussions around AI adoption, digital transformation and the future of Africa’s technology ecosystem.
Delivering the welcome address, Zenith Bank Group Managing Director and Chief Executive Officer, Dame Dr Adaora Umeoji, described innovation and technology as fundamental to the bank’s operations.
She highlighted the expanding economic potential of artificial intelligence, citing projections that the global AI market could reach $3.6 trillion by 2033.
However, she cautioned that AI brings both opportunities and risks, highlighting the growing threat of deepfakes and the potential misuse of the technology. Sharing her personal experience with deepfakes, she stressed the importance of adopting AI ethically and responsibly.
Her message reflected the event’s central argument that African businesses cannot afford to ignore the technology but must approach its adoption with appropriate safeguards.
AI governance and data protection take centre stage
A recurring concern throughout the discussions was the need to establish proper governance frameworks before deploying AI systems, particularly in sensitive sectors such as financial services.
Speaking on AI governance, Dr Ehia outlined what he described as the AI tripod, identifying data, computing infrastructure and talent as the three essential pillars of artificial intelligence, all underpinned by governance.
He warned that organisations rushing to deploy AI without adequate governance structures risk data misuse, regulatory penalties and other operational challenges.
He also emphasised the importance of human oversight, risk-based implementation and continuous auditing of AI systems and agents. Participants were further cautioned against sharing confidential or private information with AI chatbots because of potential data exposure.
Dr Rita I. Sike of the Central Bank of Nigeria reinforced the regulatory perspective, stressing that AI applications must be safe, fair and accountable while complying with applicable data protection requirements, including the Nigeria Data Protection Act 2023.
These discussions highlighted the growing importance of trust, transparency and accountability as financial institutions and other organisations integrate AI into their operations.
Experts call for African-centred AI solutions
Beyond governance, speakers highlighted the importance of developing AI systems that reflect Africa’s realities rather than relying exclusively on models and solutions designed for foreign markets.
During a panel discussion titled “Engineering Africa’s Digital Future: AI, Connectivity, and Inclusive Growth,” participants examined how artificial intelligence, telecommunications infrastructure and digital inclusion could shape the continent’s technological development.
The discussion touched on AI-powered fraud prevention, with experts explaining how financial institutions increasingly use behavioural patterns, transaction speed and location data to identify suspicious activities and potentially prevent fraud before transactions are completed.
The panel also highlighted the need to improve refund processes for victims of financial fraud, despite progress in identifying and preventing fraudulent activities.
On connectivity, representatives of the Nigerian Communications Commission discussed efforts to reduce broadband costs, lower right-of-way charges and encourage infrastructure sharing to expand access to digital services.
Jane Egerton-Idehan of NigComSat also highlighted the role of satellite technology in extending connectivity to underserved communities, particularly in rural areas. She discussed plans for two additional satellites intended to support sectors including healthcare and agriculture.
The speakers maintained that Africa’s AI ambitions would depend not only on software development but also on investments in connectivity, computing infrastructure, cybersecurity, data and local technical expertise.
Agentic AI and the changing future of work
Another major area of discussion was agentic AI, an emerging category of artificial intelligence systems capable of reasoning, taking actions and executing tasks with varying degrees of autonomy.
The discussions examined how AI is evolving from conventional digital assistance towards systems that can independently carry out more complex activities, including applications within financial services.
Experts advised organisations interested in adopting agentic AI to begin with small pilot projects before expanding implementation across their operations.
They also identified data quality, clearly defined responsibilities, staff training, measurable objectives and continuous monitoring as important requirements for successful deployment.
A major concern was the uneven state of digital data across African industries. While financial services generally have more developed digital records, sectors such as healthcare, education and agriculture still face significant digitisation challenges.
Speakers stressed that poor-quality or insufficient data could undermine AI systems, reinforcing the need to build reliable, locally relevant datasets.
The discussions also addressed legal and ethical questions surrounding AI-generated content, including copyright, intellectual property ownership, privacy, algorithmic bias, job displacement and accountability.
A key message was that AI should augment human capabilities rather than simply replace workers, making employee involvement and continuous training important parts of organisational transformation.
Zenith Bank highlights its own AI transformation
Zenith Bank also used the event to highlight elements of its digital transformation journey.
The bank disclosed that it completed an overhaul of its IT infrastructure in 2024 and introduced Zebra, an AI-powered chatbot designed to support customer interactions.
Its broader digital transformation efforts have also included expanding mobile and agency banking services.
The event further highlighted Finope, Zenith Bank’s fintech subsidiary, and its work with the African Continental Free Trade Area (AfCFTA) Secretariat to promote intra-African trade and payments.
These initiatives were presented within the broader conversation about how financial institutions can leverage technology to improve services and support economic activity across the continent.
₦190 million Zekathon rewards Nigerian innovators
Youth innovation and entrepreneurship also featured prominently, with Zenith Bank highlighting the outcomes of its Zekathon 2026 initiative.
The competition attracted more than 3,000 submissions and featured a record ₦190 million prize pool, giving technology innovators a platform to showcase solutions and gain exposure.
Previous beneficiaries shared how the initiative supported their development.
Cubes Technologies, for instance, reported expanding its reach from 30 to 60 universities, digitising more than one million materials and reaching approximately 130,000 students.
Other past participants, including Showta and Flo, discussed the value of exposure, validation, mentorship and financial support in advancing their ventures.
The bank also highlighted its Future Innovators Challenge, which targets secondary school students, reinforcing the importance of introducing young people to technology and innovation before they enter the workforce.
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Government, industry collaboration critical to AI growth
Government representatives and regulators also underscored the importance of public-private collaboration in developing Nigeria’s technology ecosystem.
Representing the Minister of Innovation, Prof. Matthew Adepoju conveyed the government’s commitment to creating an enabling environment for technology development and acknowledged private-sector investments in youth innovation.
Lagos State Governor Babajide Sanwo-Olu highlighted the state’s investments and plans around fibre-optic infrastructure, hyperscale data centres, grants, and technology training as part of efforts to position Lagos as a leading technology hub in Africa.
The discussions reinforced the view that effective regulation should support innovation rather than obstruct it, while ensuring that emerging technologies are deployed safely and responsibly.
Building Africa’s AI future
The broader message emerging from Zenith Bank Tech Fair 2026 was that adopting artificial intelligence requires more than acquiring new tools or introducing automated systems.
For individuals, the discussions encouraged learning and developing practical AI skills while exercising caution when sharing personal information with AI platforms.
For businesses, speakers emphasised starting with manageable AI projects, improving data infrastructure, and establishing governance frameworks before scaling adoption.
For policymakers and industry leaders, the priorities include strengthening digital infrastructure, developing local talent, improving cybersecurity and supporting African-centred technological solutions.
As AI continues to reshape industries and economic opportunities, Africa’s challenge will be to participate actively in its development while ensuring adoption remains inclusive, accountable, and responsive to local needs.
The event’s central message, “AI: Embrace or Extinct,” therefore extended beyond the need to adopt emerging technology. It highlighted the importance of embracing it responsibly to ensure that Africa is not merely a consumer of the global AI revolution but an active contributor to its future.
