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TechConnect 5.0: Interswitch Advances Collaboration, Compliance, Scalable Growth Across Nigeria’s Digital Ecosystem

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Techconnect

By Adedapo Adesanya

TechConnect 5.0 series concluded on a high note in Lagos as Interswitch, one of Africa’s leading integrated payments and digital commerce companies, hosted the grand finale of its multi-city innovation and engagement platform.

The event convened regulators, financial institutions, fintech innovators, and technology leaders to advance conversations around innovation, collaboration, and compliance across Nigeria’s digital economy.

The programme, themed United Frontiers: Growth Powered by Innovation, Collaboration and Compliance, marked the culmination of a multi-city journey that had previously made stops in Enugu and Abuja. It reinforced Interswitch’s commitment to fostering synergy among ecosystem stakeholders to build a trusted, inclusive, and innovation-driven financial landscape.

Delivering the keynote address, Mr Akeem Lawal, Managing Director, Payment Processing & Switching (Interswitch Purepay), reflected on the evolution of the TechConnect platform and its growing influence across Nigeria’s fintech and payments landscape.

“At Interswitch, we’ve always believed that innovation thrives best in an environment built on trust, collaboration, and shared purpose. Through TechConnect, we’ve created a space for regulators, banks, fintechs, and innovators to connect, exchange ideas, and explore how compliance can become a true enabler of scalable growth.”

“When we talk about powering Africa’s digital economy, it’s not just about technology, it’s about people, partnerships, and purpose. This is how we build the frameworks that will define Africa’s digital future and ensure that the progress we make today sets the foundation for inclusive growth tomorrow,” Mr Lawal added

Welcoming participants to the grand finale, Ms Cherry Eromosele, Executive Vice President, Group Marketing and Corporate Communications, Interswitch Group, highlighted how TechConnect has evolved into a dynamic platform for meaningful dialogue and partnership across Africa’s digital ecosystem.

“Over the past few weeks, TechConnect has journeyed through Enugu and Abuja, sparking ideas, strengthening partnerships, and connecting innovation with policy in powerful ways. And now, as we conclude this incredible series in Lagos, the commercial heartbeat of Africa, we do so with a renewed sense of purpose and momentum.

This year’s theme, ‘United Frontiers’, embodies what TechConnect stands for. It’s not just an event, it’s a catalyst that unites the innovators shaping Africa’s future, the regulators ensuring safe, sustainable growth, and the businesses transforming lives through technology. For over two decades, Interswitch has remained committed to powering Africa’s digital evolution, and through platforms like TechConnect, we continue to drive collaboration, trust, and shared growth across the ecosystem,” she said.

A key highlight of the Lagos event was a fireside chat featuring Mr Ajakaiye Itanola, Deputy Director, Payments System Policy , Central Bank of Nigeria (CBN) who represented Mr Jimoh Musa, the Director, Payment Systems Department, CBN. In his remarks, he underscored the importance of continued collaboration between the regulator and industry stakeholders to strengthen Nigeria’s payment systems and accelerate the country’s digital transformation agenda.

“At the CBN, we are committed to developing clearer and more inclusive regulations, a deliberate shift from the old ways of doing things. We are now involving more industry players in the process. For instance, we have revolutionized agent banking; it is no longer what it used to be.

“Moving forward, we are not only setting the rules for the present but also revisiting and refining existing ones to provide greater clarity and direction for the industry. The CBN is taking a forward-looking approach, anticipating future needs and framing the regulations required to support innovation.

“We believe that well-defined regulations serve as a catalyst for innovation, helping to shape the future and ensure that collective efforts remain sustainable and impactful,” Mr Itanola said.

The day’s discussions included two high-impact panel sessions. The first, De-risking Innovation with Regulatory Compliance and Strategic Partnership for Growth, explored how institutions can balance agility with accountability to drive sustainable expansion.

The second, Compliance as a Catalyst: Unlocking Scalable Innovation, Growth, and Collaboration in the Financial Ecosystem, delved into how governance and regulatory foresight can become foundational drivers of innovation and scalability.

Industry leaders across the financial and fintech sectors shared actionable insights on cybersecurity, open banking, artificial intelligence, and collaborative frameworks that enable responsible innovation and inclusive growth.

Beyond the discussions, the Lagos finale also featured interactive product showcases, where Interswitch unveiled its latest digital payment solutions designed to enhance efficiency, scalability, and customer experience across multiple industries.

The event concluded with an awards presentation, recognising outstanding partners and key contributors who continue to drive innovation and inclusion within Nigeria’s fintech landscape.

Interswitch noted that with its Lagos finale, TechConnect 5.0 has cemented its place as a cornerstone of industry collaboration, connecting innovation, policy, and partnership to accelerate Africa’s digital transformation journey.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Nigeria to Launch NIGCOMSAT Satellites in 2028, 2029

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NIGCOMSAT Satellites

By Adedapo Adesanya

Nigeria has set 2028 and 2029 as the timeline for the deployment of its new satellites, NIGCOMSAT-2A and 2B, respectively.

The Managing Director of NIGCOMSAT, which is Nigerian Communications Satellite Limited and the premier satellite operator in Nigeria, Mrs Jane Nkechi Egerton-Idehen, disclosed this at the second Nigerian Satellite Week in Abuja on Monday. She noted that the development is expected to boost military intelligence, surveillance, and regional connectivity.

“For 2A and 2B, we have started the process. We have closed the tender and are now back into the financing and implementation stage. 2A is built to come up in 2028, and 2B for 2029.

“When they are up and running, they are expected to provide security within the borders and neighbouring countries. They will support the security agencies because data collection and intelligence in real time is important. Satellites like communication satellites allow that, irrespective of where they are,” she said.

In his remarks, the Minister of Communications and Digital Economy, Mr Bosun Tijani, said the satellites form part of the nation’s strategy to strengthen digital infrastructure.

Mr Tijani explained that the satellites will complement ongoing investments in 90,000 kilometres of fibre-optic cable and nearly 4,000 telecom towers, which are being rolled out nationwide and extended to neighbouring countries, including Cameroon, Niger, Chad, Burkina Faso, and the Republic of Benin.

He stressed that satellite technology is critical for national development, affecting education, agriculture, business, and emergency response.

“The president’s approval of NIGCOMSAT-2A and 2B demonstrates a clear commitment to building the future. These satellites will enhance security, connect remote communities, and extend our fibre-optic network into neighbouring countries,” he said.

“Some of these neighbouring countries pay up to ten times more for internet capacity than Lagos. Extending our fibre network will not only improve connectivity but also enhance border security and regional collaboration.

“Satellite technology affects everything, from how a child in a rural community accesses the internet to how farmers make critical decisions and how businesses operate across distance,” the Minister said.

Also speaking, the Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, welcomed the development, saying the military will leverage the satellites for operational efficiency.

“The Nigerian Army will continue to use space assets to improve intelligence gathering, surveillance, and operational coordination across all theatres of operation,” he said at the event, represented by Major General Kennedy Osemwegie, Commander of the Nigerian Army Cyber Warfare Command (NACWC).

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Interswitch, KCB Group to Deliver Innovative Financial Solutions in East Africa

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Interswitch KCB group

By Modupe Gbadeyanka

A partnership to advance digital payments and financial inclusion across East Africa has been strengthened between Interswitch and KCB Group.

Both parties have agreed to expand digital payment infrastructure and deliver innovative financial solutions that meet the evolving needs of individuals, businesses, and institutions across the region.

The aim is to accelerate seamless, secure, and inclusive digital payments in East Africa, where the leading Africa-focused integrated payments and digital commerce enabler, Interswitch, recently announced an expansion of Verve card acceptance footprint, leveraging its consolidated partnership with KCB Group, Kenya’s largest financial services group by assets, following a similar move in Uganda through the local KCB Franchise in February 2022.

During a recent executive engagement at KCB Group headquarters in Nairobi, the chief executive of Interswitch, Mr Mitchell Elegbe, held high-level discussions with KCB leadership, including its chief executive, Paul Russo.

At the core of the strengthened collaboration is the integration of Interswitch’s robust payment rails, card scheme, and emerging digital token solutions with KCB Group’s expansive regional footprint and trusted banking franchise.

This integration enables the acceptance of Verve cards and tokenised payment solutions across KCB’s extensive merchant point-of-sale network in Kenya and Uganda, significantly enhancing everyday usability for customers while strengthening KCB’s digitally driven retail payments offering.

The consolidated partnership is expected to drive increased merchant acquisition, improve interoperability across payment ecosystems, and expand access to secure, cashless transactions. It also reinforces both organisations’ shared objective of deepening financial inclusion and accelerating digital commerce across East Africa.

“Our collaboration with KCB Group represents a powerful alignment of vision and capability. By combining our technology-driven payment solutions with KCB’s strong regional presence, we are unlocking new opportunities to scale access, drive innovation, and deliver greater value to customers across East Africa,” Mr Elegbe stated.

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Telcos to Compensate Customers for Service Disruptions—NCC

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NCC

By Adedapo Adesanya

The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to provide compensation to subscribers whose network quality of service experience is below specified targets within specific locations.

In a Sunday statement, the commission noted that its position is that customers should not be made to bear the full burden of service disruptions where operators fail to meet prescribed standards of service delivery.

Under this directive, NCC said erring operators would compensate affected users directly for breaches of Quality of Service (QoS) Key Performance Indicators (KPIs).

Mobile Network Operators (MNOs) will be required to pay these compensations for instances of poor quality of service recorded within specified time frames.

“The compensation will be provided in the form of airtime credits, calculated based on subscribers’ average spending patterns and their presence within Local Government Areas where service failures occur”, according to the statement.

The directive is rooted in the agency’s broader regulatory philosophy that places the consumer at the centre of Nigeria’s telecommunications ecosystem.

“Telecommunications services today underpin economic activity, social interaction, and access to digital opportunities. When service quality is poor, the consequences affect productivity, commercial activities, and even public confidence in our communications system.

“While regulatory fines have traditionally served as a deterrent against poor service delivery, the Commission is adopting a more consumer-focused approach that strengthens accountability within the industry”.

The commission explained that it has designed this measure to complement existing and ongoing efforts to strengthen service quality monitoring and enforce performance standards.

Further to this directive by the commission to MNOs on compensation to consumers, the regulator has mandated Tower Companies that own the critical infrastructure, such as masts, for Quality of Service delivery, to invest in infrastructure with measurable outcomes using sums that it has fined these companies, in addition to other financial fines the Commission will deem appropriate.

“The commission will continue to reinforce the obligation of operators to invest consistently in network resilience, capacity expansion, and infrastructure upgrades to meet the growing demand for telecommunications services.

“At the same time, it will deploy regulatory tools that promote fairness, transparency, and accountability across the sector, ensuring that every subscriber receives the quality of service they deserve while sustaining a telecommunications industry capable of powering Nigeria’s digital future”, the statement added.

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