General
Interswitch Employees Donate Salaries to Fight COVID-19
In the wake of the novel Coronavirus pandemic, a lot of our realities have changed. New emotions have been evoked in us daily, amidst the disturbing depiction of the disease with all the disruption, death and fear it leaves in its wake.
Gradually we have imbibed new ways of interacting and new hygiene routines, among other things. However, one important outcome of the disease the world over, is a renewed sense of value, especially in relation to fellow humans.
Across the globe we have witnessed how good spirited individuals and organisations have donated to various governments at local, national and international levels, to support the fight against COVID-19.
These donations have ranged from cash donations, to the provision of much-needed personal protective equipment (PPE), medical supplies, logistical resources, infrastructure, and so on. We have also witnessed retired medical practitioners taking the risk to return to work to fill up the manpower gap. The outpouring of love is unprecedented…well, the impact of the pandemic is also unprecedented!
In Nigeria, the private sector intervention efforts started with the Coalition Against COVID (CACOVID), an initiative that was introduced by the Central Bank of Nigeria.
The coalition has helped set up isolation centres, renovated hospitals, sourced and provided medical supplies, fed indigent homes and inspired more people to make their honest contributions.
On the corporate side, one corporation that has indeed been inspired and risen to the occasion is the Interswitch Group, along with its employees.
The over 800 employees of the pan-African integrated payment and digital commerce company, agreed to sacrifice 10% of their monthly salaries for 3 months, as their own contribution to the on-going efforts to fight the scourge.
What we had seen prior to this was privileged individuals and corporates making donations, and of course that is to be expected.
What we however did not see coming was the employees of an organization deciding to voluntarily give up a percentage of their remunerations, to help others through these trying times. No, that is unusual. But that was what staff of Interswitch Group did.
The staff of Interswitch together raised N75 million, and then the organization and the board complemented that with their own contributions, bringing the total sum to N305 million. This huge sum will be deployed to support the COVID relief efforts of 23 state governments across the country.
Part of the money is also being used to provide relief food items to indigent members of the Interswitch immediate community.
Yet and another part will be set aside to support health workers on the front lines of the fight against the pandemic.
In a press release announcing this financial intervention, the Interswitch Group stated that its employees agreed to make this unusual gesture because they had the inspiration to make a difference in the fight against the pandemic.
And what a difference they are making! They have pooled together their little amounts of money to build a substantial mass of funds that is being deployed to make significant impacts in the lives of many.
While no individual donation might have amounted to millions, their collective donations amounted to quite puddle, and then attracted further donations from the board and the company, bringing the total amount to over N300 million.
In the bid make a difference, the Interswitch employees have redefined how we could all contribute to support the efforts to curb the virus.
They have shown how every amount of money is significant towards the fight against the disease. They have demonstrated that everyone can contribute, not only the billionaires.
The have made it crystal clear that every intervention worth its salt requires sacrifices, and for them, it is 10% of their monthly earnings for three months!
Mitchell Elegbe, the Group Managing Director/Founder of Interswitch said that the efforts by the company and its employees was consistent with the company’s mission of enabling the prosperity of individuals and communities across Africa.
With such sacrifice, the staff of Interswitch are indeed ensuring that the pandemic is checked, as well as safeguarding enabling environments and interactions that will bring about inclusive prosperity across the continent.
In a time where people are unsure of their future, careful about their spending and saving every extra kobo, these heroes are forfeiting part of their earnings to take care of their fellow citizens, providing support for their government and leaving an indelible mark in the sands of times.
So, as Nigerian workers take the center stage once again, and we celebrate them and their contributions to the economy, let us reflect on the sacrifices of this incredible workforce.
While this year’s celebrations will understandably be devoid of the usual pomp and pageantry, short on the usual speeches and demands from the trade unions, let us lift our glasses to these extraordinary workers of Interswitch, who are not making demands of their government or employers today, but instead are actively providing support.
Let us give it up to these heroes who will not be negotiating with their employers for pay rise, but will rather be voluntarily taking pay cuts, to help the indigent among us.
It is indeed a new lesson in giving which we hope will be imbibed, and further promoted, by many others, even as we all join forces to battle the COVID-19 pandemic.
By Adedapo Adesanya
The Nigeria Customs Service (NCS), in partnership with the Presidential Enabling Business Environment Council (PEBEC), has launched a strategic reform agenda aimed at enhancing port efficiency and strengthening Nigeria’s trade competitiveness.
The initiative was unveiled on Tuesday, April 7, 2026, at the opening of a three-day operational workshop in Apapa, Lagos, themed Customs Leadership in Port Efficiency, Inspection Reform and Clearance Timeline.
Speaking at the event, the Comptroller-General of Customs, Mr Adewale Adeniyi, outlined a five-pillar strategy designed to transform port operations. The framework focuses on joint inspections, risk-based cargo clearance, optimisation of scanning infrastructure, enforcement of service timelines, and improved inter-agency collaboration.
Mr Adeniyi emphasised that the Service is shifting from policy formulation to effective implementation, stressing the need for consistent execution of established best practices.
He noted that the “workshop was aimed at bridging the gap between knowledge and action within the system.”
He further highlighted the transition to intelligence-led cargo processing, stating that ongoing investments in digital platforms and scanning systems must result in faster, more transparent clearance procedures for traders.
To ensure accountability, the Customs boss disclosed that the workshop would produce a reform execution matrix subject to close monitoring, adding that he would personally track progress reports.
He also urged officers to uphold professionalism, integrity, and commitment in the discharge of their duties.
In her remarks, the Director-General of PEBEC, Mrs Zahrah Mustapha-Audu, underscored the importance of adopting risk-based, data-driven inspection systems.
According to her, efficient and transparent border processes are essential to reducing the cost of doing business and improving Nigeria’s global trade standing.
Also speaking, the Deputy Comptroller-General in charge of Tariff and Trade, Mrs Caroline Niagwan, said the evolving mandate of the Service places it at the heart of trade facilitation and economic growth, adding that efficiency must be reflected across all commands.
As part of the engagement, the Customs and PEBEC delegation visited the National Single Window facility, where they held discussions with the Chairman of the Nigeria Revenue Service, Mr Zacch Adedeji, and other stakeholders to review progress and address operational challenges.
By Adedapo Adesanya
Madica, a structured investment programme for pre-seed African startups, has announced new investments totalling $600,000 in three tech-enabled startups, including Nigerian data startup, Biovana.
According to the initiative, these investments further reinforce Madica’s commitment to supporting founders and startups often excluded from traditional venture funding. The other startups include Tanzania’s Kilimo Fresh and Kenya’s Hakimu.
Each company has secured up to $200,000 in funding and will take part in Madica’s 18-month programme. This includes a tailored curriculum, hands-on mentorship, executive coaching, and two fully funded immersion trips to key technology ecosystems, both locally and internationally. The startups will also gain access to Madica’s global investor network, helping position them for growth and long-term success.
Madica’s programme seeks to counter the concentration of Africa’s tech funding in a few markets, verticals, and well-networked entrepreneurs and instead drive more equitable growth across the continent. This is done by backing a mix of underrepresented founders, startups from underserved regions, and innovators in overlooked sectors.
Launched in 2022, Madica is a sector-agnostic investment program designed to address structural gaps in Africa’s startup ecosystem. The program tackles key challenges startups face, such as limited access to capital, a scarcity of investors, and insufficient mentorship. It also provides the structured support necessary for startups to resolve critical issues and foster innovation, entrepreneurship, and wealth creation across the continent.
Kilimo Fresh (Tanzania), co-founded by Ms Baraka Chijenga and Mr Justice Mangu, connects smallholder farmers in Tanzania to reliable urban markets by aggregating, processing, and distributing fresh produce through a technology-enabled supply chain, aiming to reduce food waste.
Hakimu (Kenya), Hakimu, co-founded by Ms Rawan Dareer, Mr Ahmed Ahmed and Mr Ahmed Elbashir, is building a pan-African legal infrastructure leveraging the power of AI.
Biovana (Nigeria), co-founded by two female founders, Ms Estelle Dogbo and Dr Jumi Popoola, is a data harmonisation and certification platform focused on unlocking African health datasets for global pharmaceutical, AI, and clinical research applications.
Commenting on the new portfolio companies, Mr Emmanuel Adegboye, Head of Madica, said, “Each new investment brings us closer to the portfolio we set out to build, one that reflects the full breadth and diversity of African entrepreneurship. These three startups join a growing community of founders we’re backing with the resources, relationships, and runway they need to succeed at this early stage. The opportunity across the continent is enormous, and we’re committed to being a crucial and consistent partner in realising it.”
“Joining the Madica portfolio is a significant moment for Hakimu. We’re revolutionising access to justice across Africa, and having a partner that understands the specific challenges and opportunities of scaling in Africa makes a real difference,” said Ms Dareer, co-founder and CEO of Hakimu. “We’re grateful for the trust, looking forward to the hands-on support, and clear-eyed about the work ahead.”
By Adedapo Adesanya
President Bola Tinubu is expected to be among the leading public figures attending the next edition of the Africa CEO Forum, which will take place on May 14-15, 2026, in Kigali, Rwanda
A strong Nigerian private-sector delegation will also take part, including Mr Aliko Dangote, Mr Wale Tinubu, Mr Ofovwe Aig-Imoukhuede, Mrs Adesuwa Ladoja, Mrs Rachel More-Oshodi, Mrs Zouera Youssoufou, Mr Karim Noujaim, Mr Dany Abboud, Mr Ayo Otuyalo and Mr Chukwuerika Achum. Nigeria’s Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, will also be present.
According to a statement on Tuesday, the 2026 edition will convene in Kigali to address a defining question for Africa’s future: how to achieve the scale necessary to compete, integrate and thrive in a fragmenting world.
It comes as global power dynamics continue to evolve, while the ability of Africa to rely on competitive, agile and internationally integrated corporate champions has become a defining corporate imperative. In this shifting global landscape, one lesson is clear: scale is no longer optional. It is the first line of defence.
Organised by Jeune Afrique Media Group and co-hosted by the International Finance Corporation (IFC), the Africa CEO Forum 2026 will convene Africa’s leading public and private decision-makers around a clear conviction: scale can only be achieved through shared African ownership.
The Forum will explore three strategic levers to build continental scale. First is shared equity, which will look to unlock cross-border equity investment to create multinational African champions. Mobilise African institutional capital across markets to strengthen resilience and enhance long-term returns.
Also, is shared infrastructure, which will take on designing complementary infrastructure to integrate African value chains. Champion transformative projects that serve regional, not merely national, needs and create truly connected markets.
Thirdly is shared frameworks, which is set to harmonise standards, rules and regulations to boost investor confidence and enable the free flow of capital, goods and services. Build future-proof digital rails for health, education, agriculture and cross-border payments.
Speaking on this, Mr Amir Ben Yahmed, President of the Africa CEO Forum, stated: “If Africa wants to compete in a world defined by scale, it must move beyond economic patriotism and embrace a new model: African capital investing together. Shared ownership, cross-border partnerships and continental ambition will define the economic future of Africa and the next generation of African champions.”
On his part, Mr Makhtar Diop, Managing Director at IFC, stated: “Africa has the capital and the opportunity to grow and create quality jobs. What matters now is putting that capital to work at scale. That means building trust, sharing risk, and investing across borders. The Africa CEO Forum brings leaders together to connect policy and private investment, and to help shape Africa’s next phase of growth.”
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