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Interswitch Unveils Report on Future of Africa’s Digital Economy

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Digital Economy Policy

By Modupe Gbadeyanka

A report aimed to help drive the growth of African businesses through blockchain technology has been unveiled by Interswitch Group, a leading integrated digital payment and e-commerce company on the continent.

The whitepaper titled Blockchain Technology: The Future of Africa’s Digital Economy, according to the Managing Director of Transaction Switching and Payment Processing at Interswitch, Mr Akeem Lawal, “was inspired by the need to demystify the ambiguity around blockchain technology for African businesses, thereby driving digitization and socio-economic growth across African markets.”

“We are passionate about empowering Africans and advancing the African payment landscape, and we are consistently identifying opportunities and exploring innovative ways to enable businesses to transform and scale,” he added.

Blockchain technology is a digital ledger that stores transactions. Essentially, it is a digital system for recording transactions in multiple places at the same time thereby making it impossible to falsify the data stored on it. The technology is evolving globally and businesses are integrating Blockchain technology into their business infrastructure.

The whitepaper document released by Interswitch contains details on how businesses can leverage blockchain technology to transform their businesses and the prospects it portends for the future of Africa’s digital economy.

Mr Lawal disclosed that the document encapsulates the benefits of blockchain technology and how it will help strengthen businesses because of its efficiency, better security in keeping records and safety.

“While the blockchain technology is a relatively new phenomenon in Nigeria and Africa, we are particularly excited about our partnership with Interstellar with whom we are developing a native blockchain infrastructure that is tailored to suit the African market,” he stated.

“This initiative will deepen digital payment, lower the cost of local and cross border payment as well as champion the cause for localization of emerging technology,” Mr Lawal assured.

He urged everyone to read the whitepaper document because it addresses existing challenges in the Fintech sector and simplifies the use of blockchain technology in unravelling these challenges.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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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.

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Cassava Technologies, Google to Drive Inclusive AI Growth Across Africa

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Google Gemini AI Model

By Adedapo Adesanya

Cassava Technologies, a pan-African technology group, has partnered with Google to expand access to Gemini, Google’s advanced AI model, to millions of people across Africa.

The partnership aims to make cutting-edge artificial intelligence more inclusive, affordable, and accessible to users, entrepreneurs, and communities across the continent.

Through this collaboration, users in select African countries will enjoy data-free access to the Gemini app and extended trial periods of Gemini Advanced via Cassava’s network of partner operators and service providers.

According to a joint statement, the companies noted that the initiative reflects their shared vision of bridging the digital divide and empowering Africans with the tools and knowledge to thrive in an AI-driven world.

The initiative also supports Africa’s growing AI ecosystem, contributing to local innovation, infrastructure development, and capacity building.

It also aligns with Cassava’s broader commitment to investing in digital education, data infrastructure, and cloud technologies that will position Africa as a competitive player in the global digital economy.

Some of the benefits include a six-month extended trial of the Google AI Plus plan, provided by Google. This plan includes more access to Google’s most capable Gemini models, 200 GB of storage, video generation, Gemini in Gmail and Docs and higher limit for image generation.

Also, it comes with data-free access to the Gemini app as Cassava will work with its extensive network of technology service providers to ensure that eligible users can use the Gemini app without consuming any of their mobile data.

Speaking on this, Mr Hardy Pemhiwa, President & Group CEO of Cassava Technologies said, “We’re proud to partner with Google to democratise access to digital solutions that empower people and businesses. This partnership underscores a shared vision to make AI more inclusive, accessible, and impactful across Africa’s rapidly digitising economies. It’s about shaping a smarter, more connected, and more competitive Africa.”

“Our goal is to make Gemini helpful for everyone. By partnering with Cassava, we’re removing significant barriers to AI adoption across Africa—specifically cost and connectivity. This collaboration should help bring the full potential of Gemini to millions of people, empowering them to learn, build, and create without worrying about data consumption,” added Mr Josh Woodward, VP, Google Labs, Gemini, & AI Studio.

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Equinix to Splash $22m on LG3 Data Centre in Lagos

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Equinix MainOne

By Modupe Gbadeyanka

A new high performance data centre is expected to be built by Equinix in Lagos. It will be named LG3, a statement from the digital infrastructure company disclosed.

The project, it was revealed, will gulp about $22 million. The data centre will support global connectivity to West Africa with Equinix Fabric.

It is the first phase of an ambitious investment plan of around $100 million aimed at transforming Africa’s digital landscape over the next two years.

Set to open in Q1 2026, the new site will deliver vital new infrastructure to Nigeria empowering local businesses to scale, while drawing international companies to the country in this strategically positioned hub for global connectivity.

The addition of the new LG3 data centre in Nigeria also brings the incorporation of Equinix Fabric into the metro, enabling businesses to securely connect their physical and virtual infrastructure to cloud service providers, partners, and other companies to other Equinix locations all around the world.

Nigeria is the second-largest economy in Sub-Saharan Africa. It is home to a vibrant and increasingly tech-savvy population. Lagos, in particular, is at the epicenter of Africa’s digital transformation, recognised as the only African city in the Global Top 100 Startup Ecosystems.

The Managing Director for West Africa at Equinix, Mr Wole Abu, said, “LG3 marks a significant milestone in Equinix’s long-term commitment to bridging Africa’s digital divide.

“As Lagos emerges at the crossroads of talent, innovation, and global connectivity, this facility is accelerating access to technologies like cloud, AI, and the next wave of startups.

“We’re not just building data centers, we’re fostering growth, empowering innovation, and laying the groundwork for an interconnected African economy ready to lead on the global stage,” he stated.

Also, the Managing Director of Cedarview, Mr Olawale Owoeye, said, “Equinix’s Lagos data centre will provide us with the robust and resilient platform our customers demand to expand our digital footprint. The unparalleled reliability and access to a global ecosystem empower us to deliver high performance solutions to our customers and the new LG3 data center in Lagos is key step in ensuring we remain at the forefront of businesses connecting Africa.”

The Vice President for EMEA Growth & Emerging Markets at Equinix, Aslıhan Güreşcier, said “Africa’s digital transformation is accelerating, driven by a young population, rising internet access, and increasing demand for secure data infrastructure.

“With the opening of our newest data centre in Lagos, Equinix is proud to invest in this dynamic region, supporting our customers’ growth with world-class data centres that power everything from banking and education to emergency services and commerce.”

With a footprint spanning over 270 data centers worldwide, Equinix is continuing to bring its global expertise and infrastructure to the region. This includes harnessing Nigeria’s strategic position as an international hub for global subsea cable connections, linking Africa with Europe, Asia, and beyond.

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