PalmPay has urged African governments and private sector stakeholders to prioritise investment in interoperable payment infrastructure, arguing that the continent’s next phase of economic transformation hinges on connecting markets through financial services rather than simply expanding access to them.
The call came from Chika Nwosu, Managing Director of PalmPay Nigeria, during the Central Bank of Nigeria’s 7th Africa Emerging Markets Forum held on July 29-30, 2026, in Abuja. The forum brought together policymakers, regulators, development institutions, and private sector leaders to examine how stronger regional collaboration, digital innovation, and coordinated financial systems can deepen economic integration across the continent.
Speaking on a research paper titled “Deepening Regional Economic Integration Through Cross-Border Payments, Fintech, Infrastructure, and Policy Coordination,” Nwosu framed the opportunity in stark terms. The priority, he said, is no longer just connecting more people to financial services but connecting African markets through those services.
Brandspur Banking News Desk gathered that Nwosu emphasised the practical implications of true regional integration, which he said means making it easier for businesses to pay suppliers, receive payments, and grow across borders with confidence. The position aligns with PalmPay’s broader push to strengthen Nigeria’s payment infrastructure while working with regulators and ecosystem partners across the continent.
The company also stressed that reliability must remain central to Africa’s digital transformation. As payment ecosystems become increasingly interconnected, strengthening cybersecurity will be critical to sustaining growth and building confidence in digital finance. PalmPay reaffirmed its commitment to consumer education, industry partnerships, and robust security architecture.
The forum’s broader discussions reinforced PalmPay’s position. Central Bank of Nigeria Governor Olayemi Cardoso called for Africa to move beyond being consumers of technology and become creators of solutions designed for the continent’s specific challenges. He also emphasised the need to unlock women’s full economic participation, noting that “Africa cannot fly with one wing.”
PalmPay’s track record on inclusive finance supports this alignment. In 2025, the company supported more than 3,000 women entrepreneurs in Kano and Kaduna with digital banking tools and capacity-building opportunities while continuing to expand access to digital financial services for SMEs and other underserved communities.
During a fireside discussion, WTO Director-General Dr Ngozi Okonjo-Iweala urged African leaders to prioritise implementation, strengthen regional integration, and create conditions that attract greater domestic investment. She noted that sustainable development begins with confidence from local investors.
For Nigerian businesses, the push for interoperable payment infrastructure carries direct relevance. Cross-border trade within Africa has long been hampered by fragmented payment systems, currency conversion challenges, and regulatory differences that make transactions slower and more expensive than they need to be.
PalmPay said it will continue to work with regulators, financial institutions, and ecosystem partners to support a more connected, secure, and inclusive digital economy. The company’s participation in the forum reflects its positioning as a key player in Africa’s fintech landscape, with operations spanning multiple emerging markets across Africa and Asia.
