Africa’s economy is becoming increasingly digital, distributed, and globally connected.
From diaspora-led investments and remote construction projects to online procurement, freelance work, and cross-border business partnerships, billions of dollars now move through systems powered by technology and digital payments.
Yet despite this progress, one critical challenge continues to undermine confidence across transactions: the inability to independently verify execution.
For Nigerian entrepreneur Joshua Olatunji, Founder and CEO of Dependly, this issue represents one of the next major infrastructure problems African technology companies must solve.
“Payments alone are not enough,” Olatunji said. “The real challenge is whether trust can become measurable and enforceable within digital commerce.”
Founded in Nigeria, Dependly is building what it describes as a “verifiable trust layer” for distributed transactions and remote project execution.
The company’s platform enables users to structure agreements into programmable workflows tied directly to independently validated milestones before payments are released.
Projects can be broken into stages with assigned approvers, required evidence submissions, inspection documents, geo-stamped images, videos, and audit trails connected to each milestone.
According to Dependly, the objective is to create infrastructure where accountability becomes transparent rather than dependent entirely on informal relationships.
The startup’s model arrives at a time when Africa’s diaspora economy continues to expand rapidly.
World Bank estimates show Africa received approximately $96.4 billion in remittances in 2024, with significant portions directed toward investments and development projects. Nigerian market studies indicate that construction and real estate account for a major share of diaspora-funded spending.
Yet much of this capital continues operating through systems where execution visibility remains limited after funds are transferred.
Diaspora investors frequently rely on phone calls, verbal assurances, manually shared updates, and family trust networks to monitor projects remotely.
Analysts believe these verification gaps discourage larger-scale long-term investments and weaken confidence in distributed commercial relationships.
Dependly believes programmable verification systems could help strengthen trust within these transactions by connecting payments directly to independently validated delivery milestones.
The company is currently onboarding users across industries including procurement, construction, professional services, and remote financing while also positioning its APIs for enterprise integrations.
Industry observers say the startup reflects a broader evolution occurring within African fintech ecosystems.
The continent’s first wave of financial technology innovation focused heavily on payment accessibility and financial inclusion. A newer generation of startups is now increasingly targeting higher-order problems involving compliance, enforcement, accountability, and institutional trust.
For Olatunji, this shift represents the next stage of digital commerce itself.
“Historically, many transactions relied heavily on goodwill,” he explained. “But scalable digital economies require systems where obligations can be independently verified before capital is released.”
As Africa continues integrating through remote work, digital procurement, and cross-border investments, Dependly is betting that programmable accountability may eventually become foundational infrastructure for the continent’s next economic era.
And in markets where trust has often been socially enforced rather than technologically validated, that transformation could significantly redefine the future of business across Africa.
References
World Bank (RemitSCOPE): Africa received $96.4 billion in remittances in 2024.
IFAD (International Fund for Agricultural Development, 2022): Approximately 25% of these remittances go toward savings and investment.
Business Hallmark / Nairametrics: For the Nigerian case study, around 30% of remittances are allocated to real estate and construction.
Nigeria’s National Integrated Infrastructure Master Plan (NIIMP) 2015-2043: Focuses on strengthening policy, legal, and institutional frameworks for effective infrastructure development and governance.