PalmPay Takes Part in CBN's Africa Emerging Markets Forum, Talks Regional Payment Issues

PalmPay Group is a fintech company that offers digital financial services in many emerging markets. The company took part in the Central Bank of Nigeria’s 7th Africa Emerging Markets Forum on July 29-30, 2026, in Abuja. Chika Nwosu, the Managing Director of PalmPay Nigeria, spoke about the need for more investment in payment systems that work together to help Africa grow economically.

The forum had policymakers, regulators, development organizations, and private sector leaders. They discussed how better teamwork, digital innovation, and coordinated financial systems can enhance economic integration across Africa.

Nwosu presented a research paper titled "Deepening Regional Economic Integration Through Cross-Border Payments, Fintech, Infrastructure, and Policy Coordination." He stressed that Africa should focus on financial integration, not just financial inclusion.

"The opportunity is no longer just connecting more people to financial services. It is connecting African markets through financial services. True regional integration means making it easier for businesses to pay suppliers, receive payments, and grow across borders with confidence,” he said.

PalmPay also pointed out that reliability is key to Africa’s digital progress. As payment systems become more connected, it is crucial to improve cybersecurity. This is important for supporting growth and building trust in digital finance. The company is dedicated to creating a safer digital financial space by investing in consumer education, forming partnerships, and enhancing security measures.

The views of PalmPay matched the wider discussions at the forum. Central Bank of Nigeria Governor Olayemi Cardoso urged Africa to stop just using technology and start creating solutions for local problems. He also highlighted the importance of allowing women to fully participate in the economy, saying, "Africa cannot fly with one wing." This aligns with PalmPay’s goal of promoting inclusive finance.

In 2025, PalmPay helped over 3,000 women entrepreneurs in Kano and Kaduna with digital banking tools and training. The company is also focused on providing digital financial services to small businesses and other groups that lack access. Reaching these underserved groups is a top priority for PalmPay.

During a discussion, WTO Director-General Dr. Ngozi Okonjo-Iweala called on African leaders to prioritize action, boost regional integration, and create a friendly environment for local investments. She noted that sustainable development starts with confidence from local investors.

For PalmPay, this reflects a bigger belief: Africa’s economic future will depend on the systems it builds, not just the agreements it makes.

PalmPay plans to keep improving Nigeria’s payment systems and collaborate with regulators, financial institutions, and partners to create a more connected, secure, and inclusive digital economy.