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Mitchell Elegbe Inducted into the Prestigious EY World Entrepreneur of the Year Hall of Fame

Mitchell Elegbe, the Founder and Group Managing Director of Interswitch Group has been inducted into the Ernst and Young (EY) World Entrepreneur of the Year (WEOY) Hall of Fame.
This proud moment took place at the WEOY award ceremony in Monte Carlo, Monaco, on Thursday June 8, 2023, before an audience which included a panel of esteemed and independent judges, luminary speakers, the ecosystem of EY Entrepreneur of The Year alumni and EY executive leadership, including EY Global Chairman and CEO, Carmine Di Sibio.
According to EY, the World Entrepreneur of the Year Hall of Fame is an elite corps of men and women who have been recognized for their exceptional entrepreneurial achievements. For more than 35 years, EY has been celebrating ingenuity through the Entrepreneur of the Year program.
The programme has recognized more than 10,000 outstanding entrepreneurs for their vision, innovation, courage, and leadership in building and growing successful businesses — businesses that influence the way people live, the products and services we depend on, and the economic vibrancy of our local communities and global markets.
This year, 49 entrepreneurs from 45 countries across the world were inducted into the 2023 WEOY Hall of Fame. Elegbe had the unique distinction of being the only black and African global finalist and inductee into the coveted hall of fame, as well as the only entrepreneur in the 37-year history of the awards to have won in both the emerging and master categories at various times in their region.
Following his induction, Elegbe expressed his appreciation to the global EY team and the Nigeria team, particularly the Senior Partner and EY Entrepreneur of the Year Leader for West Africa, Ashish Bakhshi.
He said: “I am honoured to have been inducted into this prestigious body which is renowned for its rich and vibrant legacy. I express my gratitude to the Ernst and Young team for providing this platform that acknowledges and celebrates entrepreneurs across the world.”
He added, “This recognition will further cement our commitment at Interswitch to never stop pushing the boundaries of innovation in a bid to foster an Africa where payments are a seamless part of everyday life.
Elegbe was inducted for his laudable contributions as an exceptional African entrepreneur, who has contributed in no small measure to the economic development of Nigeria and Africa as a whole, having distinguished himself in business leadership and technology development.
This induction follows his emergence as the EY Entrepreneur of the Year (Emerging Entrepreneur category) 11 years ago, in 2012 and his emergence, in March 2023, as the West African Entrepreneur of the Year in the Master category.
Elegbe is a multiple award-winning professional and a renowned business leader in the Information Technology and Financial Services industry and is recognised for driving revolutionary payment innovation in Africa.
He has won several awards, some of which include Harvard Business School Association (Nigeria) Leadership Award in the General Management Category; African Banker Awards 2019 as the African Banker Icon; CNBC/Forbes All African Business Leader (AABLA) Awards for West Africa as well as Financial Technology (Fintech) Africa Awards, Payments and Transfer category in 2016, among other deserving recognitions. He is also a Bishop Desmond Tutu Fellow of the African Leadership Institute.
Elegbe founded Interswitch in 2002 to provide a solution to problems associated with payments in Nigeria. Since then, the company has grown to be a leading payment and digital commerce company that helps to build and manage payment infrastructure and provides robust technology-based solutions to individuals, financial institutions, and governments across Africa.
News
UK Minister for Africa Visits Nigeria to Deepen Strategic Partnership

The United Kingdom’s Minister for Africa, Lord Collins of Highbury, has concluded a three-day visit to Nigeria, aimed at reinforcing the UK-Nigeria Strategic Partnership.
He reaffirmed the UK Government’s strong commitment to deepening trade and investment ties between the United Kingdom and Nigeria.
During his visit, Lord Collins met with senior Nigerian government officials, business leaders, civil society representatives and United Nations agencies.
These engagements underlined the UK’s long-term drive to support Nigeria’s prosperity and stability while deepening bilateral cooperation for transformative growth across our shared priorities.
A key highlight of the visit was Lord Collin’s bilateral meeting with Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, in which both parties reaffirmed their unwavering commitment to strengthening economic ties and promoting regional security. The Minister was joined by the UK’s Trade Envoy to Nigeria, Florence Eshalomi MP.
Lord Collins also met with Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, and discussions focused on opportunities to strengthen engagement between UK’s parliament and Nigeria’s National Assembly and the importance of furthering women’s participation in politics.
Speaking on his visit, the UK Government’s Minister for Africa, Lord Collins said: “Nigeria and the UK share a rich, ambitious relationship: one that is deeply rooted in respect.
“Our Strategic Partnership is at the forefront of this, and my visit has focused on how our countries can continue deepening our cooperation on key issues such as trade and investment to drive economic growth and deliver prosperity for us all.”
The Minister held discussions with United Nations representatives on the ongoing reform of the UN system, its implications for Nigeria and how the reform can effectively support those most in need, particularly in Northeast Nigeria, whilst also contributing to global humanitarian efforts.
Lord Collins also met with civil society leaders to discuss electoral integrity and governance reforms, reinforcing the UK’s commitment to democratic values and community empowerment.
He later visited Nigeria’s Anti-Kidnap Fusion Cell: a key security initiative supported by UK expertise through the National Crime Agency and the Integrated Security Fund, which plays a vital role in enhancing local safety and combating serious crime.
Also commenting on the visit, the British High Commissioner to Nigeria, Dr Richard Montgomery, said: “Driving growth is central to the UK’s foreign and development policy. Lord Collins’ visit to Nigeria underscores the UK’s unwavering commitment to deepening our shared prosperity through expanded trade and investment. We are proud to stand alongside Nigeria as it forges a resilient and dynamic economy.”
This visit underscores the UK’s enduring partnership with Nigeria – built on mutual respect, shared goals, and a vision for a prosperous future for both nations.
News
PalmPay Launches CSR Initiatives to Empower Women, Foster Financial Literacy in Northern Nigeria

In a strategic move to expand financial inclusion in Nigeria, leading mobile banking platform, PalmPay has launched a series of CSR programs across Kano and Kaduna. The CSR initiative named “Passing the Baton” represents the brand’s commitment to passing on knowledge and providing the resources individuals and businesses need to achieve financial independence and drive economic empowerment.
This initiative is a bold move by PalmPay to bridge the opportunity gap in the North by providing financial literacy training and micro-business branding support to 5,000 women-owned businesses in Kano and Kaduna. This strategic initiative reaffirms PalmPay’s commitment to inclusive development and economic empowerment, particularly in underserved regions.
“At PalmPay, we believe that real financial inclusion must be far reaching and cover the grassroots,” said Chika Nwosu, Managing Director of PalmPay. “Our new CSR program is focused on supporting gender equity by equipping women with the knowledge, tools, and visibility they need to thrive as entrepreneurs in their communities.”
Through this initiative, beneficiaries will receive free health insurance, hands-on training workshops, enhanced store branding to boost visibility, and branded merchandise to strengthen their business presence.
The initiative is part of PalmPay’s broader strategy to extend its innovative solutions, expand its footprint in Northern Nigeria, while building sustainable partnerships with local stakeholders for long-term impact.
In a show of support, His Royal Highness, the Emir of Kano, Dr. Muhammadu Sanusi II, has endorsed the initiative, calling on other stakeholders to join forces with PalmPay in ensuring the North benefits fully from the growing digital economy. PalmPay has received commendation from community stakeholders, as the initiative aims to serve as a model for similar projects across other northern states.
As PalmPay continues to scale across Nigeria, the company remains committed to bridging the financial inclusion gap and empowering underserved groups, particularly women and youth, through its innovative solutions and impact initiatives.
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