Interswitch CEO Urges African Leaders to Invest in Energy Infrastructure to Foster Financial Inclusion and Economic Development
Mitchell Elegbe, Founder and Group Managing Director/CEO of Interswitch, has emphasized the importance of substantial investment in energy infrastructure as a vital driver for financial inclusion and sustainable economic progress across Africa.
Speaking at the 11th Nigeria Energy Forum (NEF) 2026 in Lagos, he highlighted the essential connection between reliable energy, digital infrastructure, and inclusive prosperity.
Represented by Adeyinka Adekoya, Vice President of the Energy Ecosystem, Elegbe delivered a keynote titled “Rewiring Financial Inclusion, Infrastructure & Investments,” stressing that dependable energy forms the backbone of digital transformation, financial participation, and economic inclusivity.
Addressing a diverse audience of policymakers, regulators, development partners, investors, and industry leaders, Adekoya pointed out that despite notable advances in digital financial services access, millions of Africans remain excluded from full participation due to inconsistent electricity supply.
He elaborated that energy is fundamental to powering the digital infrastructure that supports payments, commerce, and financial services. Without reliable power, resilient economies, opportunities for underserved populations, and broader financial participation are severely hampered.
“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 stated.
Highlighting the importance of innovation, Adekoya underscored the need to empower Africa’s youth to develop solutions for societal challenges, fostering sustainable economic growth.
“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.
For over 20 years, Interswitch has led efforts to develop payment infrastructure that fuels commerce, broadens financial access, and accelerates digital transformation across Africa. The company continues to forge strategic partnerships and ecosystems that strengthen infrastructure, foster innovation, and unlock shared value for businesses, governments, and communities.
As Africa’s economies grow more digital and interconnected, Interswitch believes that resilient infrastructure, strategic investments, and cross-sector collaboration are essential for sustainable progress.
Through platforms like the Nigeria Energy Forum, the company advocates for integrated solutions connecting energy, technology, and finance—creating the foundation for wider financial inclusion and long-term economic growth. By enabling the infrastructure and partnerships necessary for opportunity, Interswitch remains dedicated to building a more inclusive, resilient, and prosperous Africa.