Adeniyi Olowoporoku is a trailblazing Nigerian entrepreneur who launched Ezyswap.ai in September 2022, merging artificial intelligence with blockchain to redefine crypto trading and remittances in Africa. In just three years, Ezyswap has processed over $20 million in transactions, serving 50,000 active users across Nigeria, Ghana, and Kenya. With AI-driven tools boasting 92% market prediction accuracy, $8 million in cross-border remittances for 20,000 users, and support for currencies like NGN, GHS, KES, ZAR, USD, and EUR, Ezyswap is setting new benchmarks. Its biometric KYC and AI fraud detection have slashed fraudulent transactions by 40%, while gamified trading challenges have boosted user engagement by 25%. In this exclusive conversation with TechPoint Africa, Olowoporoku shares the spark behind Ezyswap, the challenges of scaling AI-driven fintech in Africa, and his vision for the continent’s financial future.
In this exclusive conversation, he explained the importance and rise of crypto usage among young Nigerians and why the adoption we are seeing is driven by the need for alternative financial systems, seamless international transactions, and economic empowerment in the face of traditional banking limitations.
What inspired your journey into entrepreneurship, and how did it lead to founding Ezyswap.ai?
My entrepreneurial spark came from personal frustration. In 2021, I was consulting in fintech and saw how Africans were getting shortchanged by high remittance fees and volatile crypto markets. Sending $200 from Lagos to Accra could cost $15 in fees, and traders were losing money to scams or bad timing. I taught myself AI and blockchain basics, realizing they could solve these problems—AI for smarter trading, blockchain for secure transfers. Ezyswap was born to make crypto safe, fast, and inclusive. Starting with a beta of 100 users in Lagos, we’ve scaled to 50,000 across three countries, proving that African problems need African tech solutions.
Can you tell us about Ezyswap.ai and its mission in Africa’s tech ecosystem?
Ezyswap.ai is a platform that combines AI and blockchain to empower Africans with secure crypto trading and remittances. Our mission is to democratize wealth creation and financial access. We offer AI-driven trading tools with 92% prediction accuracy, using sentiment analysis and whale tracking to guide users. Our remittance arm has moved $8 million for 20,000 users, cutting costs and time compared to traditional services. We support six currencies—NGN, GHS, KES, ZAR, USD, EUR—for seamless cross-border payments. Biometric KYC and AI fraud detection ensure trust, while gamified challenges make crypto fun and educational. We’re here to bring financial freedom to Africa’s unbanked and crypto-curious.
How does Ezyswap differentiate itself in the competitive crypto and fintech market?
We’re built for Africa, not adapted from Western models. Our AI is trained on local data—Pidgin tweets, Hausa forums, Ghanaian WhatsApp groups—to predict markets with 92% accuracy, unlike generic global models. Our remittance system integrates with mobile money like M-Pesa, serving cash-heavy economies. Security is a moat: biometric KYC and AI fraud detection cut scams by 40%, a benchmark regulators admire. And our gamified UX—think crypto trading as a rewarding game—has boosted engagement by 25%. We design for 3G networks and low-end Androids, ensuring access in rural Kenya or urban Lagos.
What role does technology play in driving Ezyswap’s business strategy?
Technology is our engine and edge. Our AI analyzes thousands of data points—social media, news, whale wallets—to predict crypto price swings, giving users a near-telepathic edge. Blockchain ensures transparent, low-cost remittances, with smart contracts cutting transfer times to under 10 minutes. Biometric KYC uses facial recognition for seamless onboarding, vital in markets with low documentation. Our fraud detection AI, trained on 10,000+ scam patterns, flags risks in real-time. We also optimize for Africa’s realities—offline caching for spotty internet, multi-language support for Yoruba or Swahili users. Tech isn’t just what we sell; it’s how we outmaneuver competitors.
What’s the most challenging business decision you’ve had to make with Ezyswap?
Delaying our launch to perfect compliance and security. In 2022, crypto startups were popping up weekly, and investors pushed us to go live early to grab market share. But I saw too many platforms crash from hacks or regulatory bans. We spent 18 months securing collaborations with compliant partners in Nigeria, Ghana, and Kenya, plus building biometric KYC and AI fraud systems. It cost us early hype, but when we launched, we had zero breaches and instant credibility with regulators. That foundation let us process $20 million safely. Patience in fintech is a superpower.
What emerging technologies or trends are you most excited about for African markets?
AI for financial inclusion is my obsession. Beyond trading, AI can score creditworthiness using phone usage or market vendor patterns, unlocking loans for millions without bank accounts. Blockchain’s potential for transparent land registries or supply chain tracking could transform agriculture and trade, especially with AfCFTA reducing barriers. Offline AI—models that run on basic smartphones—will bring services to rural areas with no internet. And gamified fintech, like our trading challenges, will educate Africa’s youth, turning crypto into a tool for empowerment, not speculation.
How do you approach balancing innovation with regulatory compliance across different countries?
Compliance is our innovation. Africa’s regulators—like Nigeria’s CBN or Kenya’s CBK—want fintech to thrive but prioritize consumer safety. We embedded compliance from day one, hiring legal experts before coders. For example, our biometric KYC aligns with Nigeria’s BVN mandates, and our AI fraud system auto-reports to Ghana’s BoG. We treat regulators as partners, sharing data on fraud trends, which earned us sandbox access in Ghana. Cross-border is trickier—each country’s rules differ, so we built modular APIs to adapt instantly to new policies. This lets us innovate fast while staying bulletproof.
What challenges do your teams face working across diverse African markets?
Africa’s diversity is a strength but a logistical beast. Nigeria’s cash culture demands agent networks; Kenya’s M-Pesa dominance needs mobile money integration; Ghana’s cautious regulators require extra compliance layers. Internet reliability is a headache—50% of our users face dropped connections, so we built offline transaction caching. Language matters: our AI supports Yoruba, Swahili, and Twi to feel local. Currency volatility is another hurdle; our multi-currency wallet auto-hedges to protect users. The biggest trap is assuming one UX fits all—customizing for each market’s vibe is non-negotiable.
How do you address talent scarcity and skills development in the African tech ecosystem?
Africa’s got raw talent, but fintech-grade skills are rare. We hire for grit and curiosity, not just degrees. Our best data scientist started as a self-taught coder from Ibadan, mentored by seniors we flew in from London. We run bootcamps with CcHUB, training 200 devs yearly on AI and blockchain. To combat brain drain, we offer remote work options and equity, pulling back Nigerian engineers from Canada. Partnerships with universities like Covenant help us shape curricula for real-world needs, like low-bandwidth app design. Building a learning culture keeps talent loyal and sharp.
What’s your vision for the future of fintech in Africa?
Africa will bypass legacy banking entirely. By 2030, mobile-first fintech will bank 500 million unbanked Africans, with platforms like Ezyswap leading. Embedded finance—crypto wallets in e-commerce or ride-hailing apps—will outpace standalone apps. AfCFTA will unleash $100 billion in intra-African payments, and blockchain platforms with AI will dominate by cutting fees and fraud. Agent networks will evolve into micro-banks, offering loans and insurance. CBDCs like eNaira will integrate with private platforms, creating hybrid financial systems. Ezyswap aims to serve 100 million users, making crypto a tool for daily wealth-building.
How do you plan to scale Ezyswap’s impact across the continent?
We’re scaling through network effects and partnerships. Our freemium model—free trading, paid AI insights—drives viral growth; 30% of our 50,000 users came from referrals. We’re expanding to South Africa and Ethiopia by 2026, leveraging local banks and telcos like MTN for distribution. Our agent network, now 500 strong, will hit 5,000, covering rural zones. API integrations with e-commerce platforms will embed our wallet in everyday shopping. Regulatory moats—our compliance stack—protect us as we enter new markets. The goal is $100 million in transactions and 1 million users by 2027.
What advice would you give to aspiring entrepreneurs who want to build tech companies in Africa?
Solve a pain you’ve felt—Ezyswap came from my own remittance struggles. Test ideas with real users first; we surveyed 200 traders in Lagos before coding. Hire compliance and finance experts early—regs are brutal but winnable. Build for Africa’s realities: 2G networks, cash reliance, local languages. Partner with local players—our M-Pesa deal doubled Kenya’s user base. Focus on traction, not VC hype; our $20 million volume sold investors better than any pitch deck. Stay gritty—power cuts and red tape are tests; pass them, and you’re unstoppable.
What’s the one technology trend you believe will define the future of African business?
AI on mobile. With 600 million smartphones projected by 2030, AI that runs on low-end devices will transform finance, agriculture, and education. Think AI credit scoring for market women or offline price predictors for traders. Ezyswap’s mobile AI already empowers 50,000 users; scaling that to millions means financial inclusion at unprecedented levels. It’s not about fancy tech—it’s about practical AI that works in a village with no Wi-Fi.
What’s your vision for the future of tech in Africa?
By 2030, Africa will birth global tech giants solving local problems. Ezyswap will lead, empowering 100 million Africans with crypto trading and remittances, processing $500 million annually. AI and blockchain will drive financial inclusion, cutting costs and fraud. We’ll see African startups dominate intra-continental trade via AfCFTA, with mobile-first, offline-ready tech. My goal is Ezyswap as the go-to platform for wealth creation, proving Africans can build world-class solutions for ourselves and beyond.
Thank you for talking to us.
My pleasure! Thanks for the opportunity to share our story.
