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Interswitch Headlines Africa Fintech Summit Nairobi 2024 With Gold Sponsorship

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The Africa Fintech Summit has announced Interswitch Group as Gold Sponsor for the Africa Fintech Summit (AFTS) 2024, to be held in Nairobi, Kenya, from September 4-6, 2024.

The partnership comes at a time of significant expansion of Interswitch’s operational footprints across the continent on the back of notable milestones such as the recent consolidation of its strategic partnership with ACI Worldwide to drive the modernisation of real-time payments across 32 Markets in Sub-Saharan Africa, as well as its foray into other industry verticals including Healthcare, Energy & Transportation, among others.

Since commencing operations in 2002 out of Nigeria, Interswitch has remained at the forefront of driving innovation in the financial technology and digital payments industry, facilitating payments and leveraging innovative technology solutions to shape the future of trade and digital commerce in Africa.

As one of the pioneers of digital payment innovation in Africa, Interswitch, at its inception, disrupted the traditional cash-based payments value chain in Nigeria by supporting the introduction of electronic payments processing and switching services. It also launched Verve, Africa’s premier and leading domestic EMV-standard chip and pin payments card scheme.

Since 2021, Verve has controlled more than 50% of the Nigerian card market, courting deepened relationships with banking partners and fintech startups operating in Nigeria.

Additionally, a recent change in consumer behaviour and macroeconomic conditions has led more Nigerian banks and fintech startups to issue Verve cards to customers as a locally relevant and reliable alternative.

For instance, OPay, one of Nigeria’s largest digital banks, has issued 13 million Verve cards, while Moniepoint has issued about 4 million, further solidifying Verve’s position as a leading card and payment chip provider.

Today, Interswitch is a leading player with critical mass across Africa’s developing financial ecosystem and is active across the payments value chain, providing a full suite of omnichannel payment solutions.

Interswitch’s vision is to make payments a seamless part of everyday life in Africa, overarching the company’s drive to facilitate intuitive transaction solutions that enable individuals and communities to prosper across the continent.

Interswitch’s broad network and robust payments platform have been instrumental in the development of the payments ecosystem across the continent and provide Interswitch with the infrastructure to expand across Africa.

Commenting on the partnership with the Africa Fintech Summit for this year’s edition, Interswitch Founder & Group CEO, Mitchell Elegbe remarks, “As an Africa-focused integrated digital payments and commerce leader, and an important gateway to Africa’s Fintech Ecosystem, we are extremely delighted to support ecosystem engagement and valuable thought-leadership through the platform of the Africa Fintech Summit. 22 years ago, we set out, with a clear vision to solve social problems, starting by digitizing the use of cash.

“Today, on the realization of the tremendous transformative potential of technology to create value and unlock prosperity for Africa, we’ve set our sights on leveraging technology and innovation to digitize transactions and unlock value in other key social service sectors, just as we continue to do in the sphere of financial services, and we are excited to see that our roadmap and perspective aptly align with the theme of this year’s AFTS, which is ‘Fintech In Every Industry’.

“It is with immense gratitude and great delight that we welcome Interswitch as Gold Sponsor for the Africa Fintech Summit in Nairobi this year. It’s warming to have Interswitch grace the big stage this year and share detailed insights, trends and expert perspectives as a revered player in the African Payments Space.

“After 2 decades of building innovative African payment solutions for most payment touchpoints across the continent, we are deeply humbled to have Interswitch’s wealth of experience at this year’s summit.

This is particularly important because it fits into our 2024 AFTS in Nairobi Theme: ‘Fintech in Every Industry,’ underscoring our expectation that in the mobile-first continent of Africa, we will see fintech penetrating through all industries.

All sectors stand to benefit from being powered and served by fintechs – including insurance, saving & investments, cross-border trade, e-commerce, mobile money & digital banking, utilities, mining, trade, healthcare, and education.

“We will also see non-fintech companies leapfrogging digitally and providing these services embedded in their own product offerings as many service providers have done across the continent,” said Zekarias Amsalu, Co-Founder of AFTS and MD of Ibex Frontier.

Since its first summit in 2018, the Africa Fintech Summit has become the largest annual financial technology gathering on the African continent. In addition to its partnership with Interswitch, AFTS will be supported by a diverse cohort of partners and sponsors.

#AFTSNAIROBI2024 will bring Keynote Speeches from Kenyan policymakers & AfCFTA as well as a VIP dinner for Speakers and invited guests on the night of 04 April; panels, workshops and fireside chats on 05 & 06 September; a delegation from Prosper’s Tech for Trade Alliance along with AfCFTA’s Digital Protocol, Alpha Expo Pitch Competition & Ecosystem tours on the 06th September. The event will conclude with a happy hour for delegates and attendees on both the 5th & 6th of September.

Join Africa’s largest community of financial technology innovators, investors, and regulators at the 12th edition of AFTS coming for the first time to Nairobi, Kenya on September 4-6, 2024. Supported by an advisory board of thought leaders and fintech pioneers, the AFTS is a unique space where ideas are explored, investments are mobilized, and collaborations are formed across sectors and geographies.

More than just a conference, AFTS brings the issues, entrepreneurs, and opportunities revolutionizing finance in Africa to the world’s stage. AFTS has hosted ten previous summits having hosted 5 editions in Washington, DC and 5 more editions in Lagos, Addis Ababa, Cairo, Cape Town, and Lusaka.

Over the past 10 summits, AFTS has supported Over USD 125M in capital raise efforts for African fintech startups, Groundbreaking launch of US-government funded Prosper Africa Tech for Trade Alliance, Public discourse and debate surrounding industry trends, brand building and awareness opportunities across global fintech media, knowledge sharing between banking/fintech operators with regulators, active engagement and inclusion of regulatory authorities in continental fintech conversation, and bring the largest source of truth for announcements of financial technology innovation, and strategic partnerships across the continent and globally.

With an information-packed agenda, AFTSNAIROBI 2024 will feature regulatory roundtables, bilateral meetings, collaborative partnerships, workshops, demos, pitch competitions, ecosystem tours, whitepapers, awards, and plenty of opportunities to collaborate with the investors and entrepreneurs shaping the future of African fintech, and we are glad to have Interswitch at the forefront of these conversations with leading names within the business like Akeem Lawal (MD, Payment Processing & Switching), Jonah Adams (MD, Digital Infrastructure & Managed Services, Peter Kawumi (MD, East Africa) & Bernard Kinara (Country VP, Kenya)

As in the past years, the event will be hybrid, with live streaming provided for remote attendees via our website. Limited tickets to the 12th Edition summit are now available. Secure your passes now on our website: https://www.africafintechsummit.com/.

 


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SEC Probes Ponzi Scheme Linked to FF Tiffany

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The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.

A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.

The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.

The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.

According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.

SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.

“These schemes are not registered with the SEC and do not offer investor protection under the law.

“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.

The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.

SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.

 


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US Launches ‘Window on America’ @ Ogun Tech Hub

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The Ogun Tech Hub in Abeokuta, Nigeria received a significant step towards increasing digital access and empowering young people as US Embassy in Nigeria launched the ‘Window on America’ facility.

The newly opened centre will offer free high-speed internet, computer access, and targeted programs to help young Nigerians build essential skills in technology, entrepreneurship, and leadership.

In a post on X (previously Twitter), the US Embassy described the hub as a modern ICT and resource centre meant to promote digital inclusion and provide youths with skills.

“Hello Abeokuta! We’re thrilled to announce the opening of the Ogun Tech Hub Window on America. This dynamic space offers free high-speed internet, computers, and programs to help young people gain tech, leadership, and entrepreneurial skills,” the Embassy wrote.

The facility was established in collaboration with the Ogun State and GFA Technologies, a software solutions provider for startups and SMEs.

The Embassy said the facility is part of its wider network of 29 American hubs across Nigeria, designed to empower youth and broaden access to global knowledge and opportunities.

Speaking during the launch, Ogun State governor Dapo Abiodun urged young people to use the ICT industry for self-sufficiency and competitiveness globally.

He lauded the program as a public-private cooperation that connects Nigerian youngsters with global innovations.

The governor said: “The Ogun Tech Hub serves as a collaborative space for technologists, startups, and social entrepreneurs to develop tech-driven solutions for societal challenges. The partnership is aimed at positioning Ogun State as a leading tech hub in Africa, supporting creative problem-solving and commercial innovation.”

With the ‘Window on America’ program fully operational, Ogun State is well-positioned to boost youth empowerment and digital literacy.


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TikTok Removes Over 3.6m Videos in Nigeria, Citing Safety Priorities

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In a demonstration of its ongoing commitment to user safety, TikTok removed more than 3.6 million videos from the platform in Nigeria between January and March 2025, a 50% increase in removals over the previous quarter, for violating its Community Guidelines.
These figures were revealed in TikTok’s Q1 2025 Community Guidelines Enforcement Report, underscoring the platform’s priority of creating a safe, respectful and trustworthy digital environment.
With a proactive detection rate of 98.4%, which is content removed before it was reported to TikTok and 92.1% of videos removed within 24 hours, the report reflects TikTok’s continued investment in innovation, advanced technology, and expert moderation teams to improve enforcement systems that detect and remove harmful content before it reaches audiences.
With millions of positive, educational and entertaining videos uploaded on TikTok every day, TikTok is continually strengthening its ability to identify and remove content that goes against its Community Guidelines. The latest removals report represents a small fraction of the total number of videos posted by the Nigerian community quarterly; highlighting that the platform has more positive and empowering content.
In March 2025, TikTok also removed 129 accounts in West Africa tied to covert operations.
TikTok LIVE
While TikTok LIVE enables creators and viewers to connect, create and build communities together, in real-time, the platform has intensified its LIVE Monetization Guidelines, making it clearer how some content is not eligible for monetization.
LIVE content enforcement also remained a top priority. In the first quarter of 2025, TikTok banned 42 196 LIVE rooms and interrupted 48 156 streams in Nigeria that were found to violate the platform’s community guidelines.
A global system for localised protection
Globally, more than 211 million videos were removed in Q1 2025, up from 153 million in the previous quarter, with over 184 million removed through automation. The platform’s global proactive detection rate reached 99%, demonstrating continued improvements in identifying and removing harmful content quickly and effectively.
Despite these high-volume interventions, harmful content still represents a very small portion of what users post. Globally, less than 1% of content uploaded to TikTok is found to violate its community guidelines, a testament to its continued prioritisation of proactive safeguards.
Bringing resources to Nigeria’s community, together
In June, TikTok Africa hosted its “My Kind of TikTok Digital Well-being Summit” bringing together experts, NGOs, creators, media and industry leaders from across Sub-Saharan Africa, including Nigeria, to collectively explore, tackle, and improve the state of digital wellbeing both on and beyond the platform.
Part of a suite of announcements made at the Summit and building on a successful pilot in Europe, TikTok is expanding in-app helpline resources to Nigeria, in partnership with Cece Yara, a child-centered non-profit organisation prioritising youth safety and support. This means that in the coming weeks, young users in Nigeria will have access to local helplines in-app that provide expert support when reporting content related to suicide, self-harm, hate, and harassment.
Collaborating with experts, TikTok has also announced Nigeria’s Dr Olawale Ogunlana (Doctor Wales) as a TikTok Digital Well-being ambassador, part of a diverse group of verified healthcare professionals from the WHO Fides Network.
Alongside these efforts and commitment to safety, TikTok encourages community participation through user reporting and education. As part of its ongoing #SaferTogether campaign, the platform advocates for a more collaborative approach to creating a respectful online environment.
The Q1 2025 report reflects TikTok’s deepening efforts to safeguard its Nigerian user base, strengthen enforcement systems, and remain transparent about the measures being taken to uphold platform integrity.

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