The 2025 African International Conference on Islamic Finance (AICIF) Pitch Competition has highlighted 20 promising startups competing for ₦5 million in grant funding, as Africa seeks to foster a brand new technology of moral, impact-driven enterprises.
The competitors, held in Abuja on Saturday as a precursor to the seventh AICIF in November, attracted over 200 candidates from throughout Africa earlier than narrowing down to twenty finalists — 10 centered on tech improvements and 10 on social affect.
According to Hajia Ummahani Ahmad Amin, the Convener of AICIF in Nigeria and Managing Partner of Metropolitan Law Firm, the occasion is greater than only a contest.
“Today, we celebrate creativity, resilience, and the power of ideas. These young entrepreneurs are not just pitching businesses; they are presenting the future of Africa. The solutions here have the potential to create jobs, reshape industries, and drive social impact,” she advised members.
The startups, starting from halal-tech options to moral funding platforms, have been assessed by a panel of judges on innovation, scalability, and alignment with Islamic finance rules.
Mr Abdulkadir Abbas, Director on the Securities and Exchange Commission (SEC), who attended the occasion, described the standard of pitches as spectacular.
“The passion, commitment, and innovation displayed are remarkable. It will be a tough task for the judges to choose winners. What we are witnessing here is the very essence of ethical entrepreneurship,” Abbas stated.
The SEC’s involvement within the competitors displays its rising help for the non-interest finance sector. Abbas defined that the regulator has frameworks in place that allow small companies to entry funds by means of crowdfunding and different Sharia-compliant funding merchandise.
Managing Director of Metropolitan Skills Ltd, Ms Yinlaifa Edolo, harassed that the competitors goals to empower younger entrepreneurs with moral instruments for constructing sustainable enterprises.
“This grant is not about loans or debts. It is about giving startups breathing space to innovate, scale, and build businesses aligned with fairness and social responsibility,” she stated.
For Mr Abimbola Ajinibi, Associate Director on the First Trustees, the deal with SMEs is important.
“Small businesses are the backbone of Africa’s economy. But they often lack access to affordable capital. By using halal finance instruments like Waqf, Sukuk, and ethical crowdfunding, we can help them grow without the burden of exploitative interest rates,” he stated.
One of the finalists, talking after his pitch, described the chance as “life-changing.”
“Access to funding is the biggest barrier for startups like ours. This competition doesn’t just give us money; it gives us visibility, mentorship, and credibility,” he stated.
Since its inception in 2018, AICIF has advanced into Africa’s premier platform for Islamic finance, bringing collectively authorities officers, regulators, teachers, and entrepreneurs. The pitch competitors, now in its seventh version, underscores the convention’s mission to mainstream halal and moral finance whereas inspiring innovation that serves communities.
The judges deliberate, and the finalists await the announcement of winners. The ambiance is charged with hope that a few of Africa’s boldest innovators will quickly scale their concepts into enterprises able to remodeling the continent’s {financial} and social panorama.
