Stakeholders are advocating for the adoption of technology in Nigeria's banking audit sector to improve operational functions, anticipate risks, and enhance assurance in the era of artificial intelligence, according to Punch Business.

Emma Okonji discusses the challenges faced by Nigerian Small and Medium Enterprises (SMEs) in implementing Artificial Intelligence (AI) tools. The conversation has often centered on high-level innovation, but many SMEs struggle with practical implementation issues.

Kenya's insurance industry is increasingly turning to artificial intelligence to enhance efficiency, minimize losses, and broaden coverage in a market with low uptake. This trend was highlighted at the InsurTech Forum Nairobi 2026, where industry executives and technology leaders discussed the future of transformation in the sector.

According to Punch, Nigeria's top banks raised their technology budgets by 43% in the first quarter of 2026, investing N119 billion in digital infrastructure. This increase aims to enhance services and address the growing demand for digital transactions.

Africa's banking sector is approaching the latter half of 2026 with a cautiously optimistic outlook, as it faces macroeconomic pressures such as persistent inflation, high interest rates, and currency volatility. Industry analysts note that while the sector appears resilient, these challenges complicate financial planning for banks across the continent. In response, many banks are increasingly focusing on digital transformation to adapt to the changing economic landscape.

Experts have shared differing views on the effects of new regulatory frameworks implemented by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on the fintech sector in Nigeria. The introduction of these rules has led to a division within the industry regarding their potential impact.