Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, has reaffirmed its commitment to driving the continent’s digital transformation, serving as the Gold Sponsor of the second edition of Moonshot by TechCabal. Recently held at Eko Hotel in Victoria Island, Lagos, the event brought together key figures from sectors such as finance, technology, and commerce to discuss the future of financial services in Africa, with innovation and collaboration at the forefront.
Delivering a keynote address titled ‘The Future of African Commerce: Unlocking New Opportunities through Innovation,’ Akeem Lawal, Managing Director of Payment Processing and Switching at Interswitch Purepay, emphasised the pivotal role that commerce and trade will play in shaping Africa’s future. He noted that Pan-African cross-border payment flows reached an estimated $519.8 billion in 2022[OO1], underscoring the need to strengthen intra-African trade.
Lawal also stressed the importance of innovative payment solutions in driving Africa’s sustained growth, pointing to the critical role of digital technology in unlocking new opportunities for African economies. He further highlighted how integrating financial systems, fintech innovations, e-commerce platforms, and agritech solutions can enhance the continent’s economic resilience and growth.
“At Interswitch, our vision is to create an inclusive payment ecosystem, and I implore everyone here to think possibilities with us. We envision an ecosystem where transactions are borderless, seamless and stress-free. With Africa’s most successful payment card, Verve, we are improving cross-border transactions and have empowered over 67 million individuals and businesses across 13 African countries,” Lawal said.
Lawal further addressed the growing impact of Artificial Intelligence (AI) and Machine Learning (ML) on African commerce, noting how these technologies are driving improvements in customer experience, operational efficiency, and data-driven insights.
The event also featured a high-impact panel session titled ‘Building the Future of Financial Services,’ where Vincent Ogbunude, Managing Director of Verve International, joined other industry experts to discuss how financial institutions are leveraging technology to offer more inclusive and efficient services across Africa.
Ogbunude highlighted the need for continuous innovation within financial institutions to meet the evolving demands of African consumers and businesses, particularly in payments, banking, and fintech. He noted,
“Despite challenges like inadequate infrastructure, Verve has deepened its presence across East and West Africa through strategic partnerships. Financial institutions must embrace fintech innovations and invest in solutions that address real community financial needs.”
As Africa continues its journey toward becoming a global economic powerhouse, Interswitch remains committed to supporting platforms like Moonshot that foster impactful conversations and partnerships that chart the continent’s path to a digitally powered future. By driving collaboration, innovation, and investment in financial technology, Interswitch is not only advancing Africa’s digital payments landscape but also shaping the future of payments across the continent.
