Interswitch Advocates Strong Corporate Governance for Businesses

Interswitch Group, a leading African digital commerce company, highlighted the importance of strong corporate governance and strategic regulatory engagement for businesses looking to expand across the continent. During an AFN Webinar on World Fintech Day, Interswitch CEO Mitchell Elegbe emphasized the need for a mutually recognized licensing framework to accelerate innovation, streamline compliance, and enhance regional collaboration in the fintech industry.

Elegbe shared insights from Interswitch's journey as a fintech and payment champion operating in multiple African regions, noting the challenges of managing distinct licenses and regulatory requirements in countries like Nigeria, Kenya, Uganda, Gambia, and Mauritius. The company faces issues with overlapping regulations, duplicated licensing processes, and conflicting compliance requirements, which can lead to delays in approvals and operational inefficiencies.

Elegbe stressed the importance of delivering inclusive solutions across borders while navigating complex regulatory landscapes.