A coalition of African financial leaders has made an urgent call to dismantle elitist digital payment infrastructures and replace them with inclusive systems tailored to the continent’s marginalized populations.
Gathered in Lagos for a landmark summit co-hosted by the AfricaNenda Foundation and the Nigeria Inter-Bank Settlement System (NIBSS), experts and regulators from over ten African nations rallied behind a common cause: financial inclusion for the 400 million Africans still excluded from the continent’s growing digital economy.
“This situation is not only unsustainable, but above all unacceptable,” declared Dr. Robert Ochola, CEO of the AfricaNenda Foundation.
“Policymakers must prioritize inclusive, interoperable systems designed around the needs of marginalized populations, rather than imposed from the top.”
Dr. Ochola stressed that Africa must move beyond infrastructures built for a privileged minority.
“Africa must focus on building scalable systems that serve the most vulnerable,” he said, identifying women, youth, and informal workers as key beneficiaries.
Highlighting a success story, he cited Nigeria’s NIBSS as a model, which now processes nearly a billion transactions monthly and operates around the clock, linking banks, fintechs, and payment switches.
Premier Oiwoh, Director General of NIBSS, echoed these sentiments, calling for Africa to “deconstruct inherited colonial patterns” and design solutions “by Africans, for Africans.”
He also proposed establishing a continent-wide forum for regulators to coordinate efforts on digital payment systems.
Representing the Central Bank of Nigeria, Musa Jimoh emphasized the need for regional unity.
“African regulators must engage in dialogue with each other.
Collaborate and maintain constant dialogue,” he urged. “Break out of jurisdictional silos to come together and act as Africans.”
This five-day conference aligns with AfricaNenda’s broader goal: to enable 260 million financially excluded Africans to access digital payments by 2030.
The foundation, operating in 13 countries with a team of 24 experts, sees inclusive finance as a cornerstone of sustainable development on the continent.
As voices across sectors converge, the call to action is clear — Africa must rethink its digital payment architecture to ensure it serves the many, not just the few.
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