Interswitch CEO Urges Africa to Invest in Energy Infrastructure to Deepen Financial Inclusion

Interswitch CEO Urges Africa to Invest in Energy Infrastructure to Deepen Financial Inclusion

The Founder and Group Managing Director/Chief Executive Officer of Interswitch Group, Mitchell Elegbe, has called on African governments, investors and development partners to prioritise investments in energy infrastructure, describing reliable electricity as a critical driver of financial inclusion, digital transformation and sustainable economic growth across the continent.

The Founder and Group Managing Director/Chief Executive Officer of Interswitch Group, Mitchell Elegbe, has urged African countries to make significant investments in energy infrastructure to unlock greater financial inclusion and drive long-term economic development.

Elegbe made the call in a keynote address delivered on his behalf by the company's Vice President, Energy Ecosystem, Adeyinka Adekoya, at the 11th Nigeria Energy Forum (NEF) 2026 held in Lagos.

Speaking on the theme, "Rewiring Financial Inclusion, Infrastructure & Investments," Adekoya said reliable energy remains the foundation for digital transformation, financial participation and inclusive economic development across Africa.

Addressing policymakers, regulators, development partners, investors, private sector leaders and innovators, he noted that although Africa has recorded progress in expanding access to digital financial services, millions of people would remain financially excluded without dependable electricity supply.

According to him, energy powers the digital infrastructure that supports payment systems, commerce and financial services, making it indispensable for building resilient economies, creating opportunities for underserved communities and expanding participation in the formal economy.

"Financial inclusion extends beyond providing access to financial services. It is about creating the conditions that enable people and businesses to participate meaningfully in the economy. Energy is one of those critical conditions. Where energy is unavailable or unreliable, economic opportunities are constrained, digital services are limited, and financial exclusion persists. In many ways, energy poverty is financial exclusion in disguise," Adekoya said.

He also highlighted the importance of innovation and youth empowerment in accelerating Africa's development, stressing that young people must be supported to develop solutions that address societal challenges while creating sustainable economic value.

"Africa's greatest competitive advantage lies in the ingenuity of its young people. By creating an enabling environment where innovation solves real problems and attracts investment, we can accelerate inclusive development across the continent. The future is youth-driven, innovation-led and investment-enabled," he added.

The company noted that for more than two decades, Interswitch has played a leading role in developing payment infrastructure that supports commerce, expands financial access and accelerates digital transformation across Africa.

It added that beyond enabling seamless digital payments, the firm continues to invest in strategic partnerships and ecosystem collaborations aimed at strengthening critical infrastructure, fostering innovation and creating shared value for businesses, governments and communities.

As Africa's economies become increasingly digital and interconnected, Interswitch maintained that sustainable development would depend on resilient infrastructure, forward-looking investments and stronger collaboration across sectors.

The company said its continued participation in platforms such as the Nigeria Energy Forum reflects its commitment to promoting integrated solutions that connect energy, technology and finance to expand financial inclusion and support long-term economic growth across the continent.