Interswitch champions infrastructure as key to Africa’s Tech leap
Interswitch, an African payments and digital commerce company, stated that scalable infrastructure and trusted partnerships, not just innovation and capital, will drive Africa’s next technological advancement.
Akeem Lawal, the managing director of Interswitch Purepay, emphasized that Africa’s digital growth depends on resilient infrastructure, collaborative partnerships, and trusted technology systems. Speaking at Moonshot by TechCabal 2025 in Lagos, he highlighted the critical role of these elements in sustaining long-term progress in the continent’s digital economy.
“Infrastructure creates the foundation for partnerships. Every card tap, bill payment, or money transfer relies on trust in unseen systems. At Interswitch, we build that trust daily. Innovation alone isn’t enough; we must modernize, integrate AI, and strengthen digital systems to meet current and future demands, especially in payments and financial technology,” Lawal said.
He added, “Infrastructure sets the path, collaboration builds momentum, and trust powers the journey. Together, they drive Africa’s digital future. Technology alone won’t suffice—enduring infrastructure, united partnerships, and trust turn innovation into impact.”
Lawal stressed that sustainable progress requires more than innovation. He advocated for structured investments and collaboration, including public-private partnerships, domestic resource mobilization, and regional integration, to scale solutions effectively.
Supporting Lawal’s point, Jumoke Oduwole, Minister, Federal Ministry of Industry, Trade & Investment citing data by the International Finance Corporation (IFC) and Google said in a report that Africa’s digital economy could contribute $180 billion to the continent’s GDP by 2025 if infrastructure gaps are addressed. However, only 38 percent of the African population in 2024 used the internet due to barriers like cost, digital literacy, and infrastructure gaps, especially in rural areas, highlighting the need for robust digital infrastructure.
Additionally, a 2024 report by the World Bank noted that public-private partnerships have driven 60 percent of fintech growth in sub-Saharan Africa, underscoring the importance of collaborative models.
Interswitch itself processed over 1.2 billion transactions in 2023, according to company data, demonstrating the scale and trust in its payment infrastructure. These figures reinforce Lawal’s call for resilient systems and partnerships to unlock Africa’s technological potential.
Citing the State of Africa’s Infrastructure 2025 report, he noted that the continent holds over $1.1 trillion in domestic capital through pension funds and sovereign wealth funds. Unlocking these homegrown resources, he said, will redefine Africa’s growth trajectory by driving African-led innovation at scale.
