Digital Payments Shift Must Prioritise Inclusion, Says Expert at Lagos Tech Fest 2026

Africa’s transition toward a cash-lite economy must be anchored on participation, trust and interoperability rather than technology alone, according to digital transformation advisor Unwana Esang.

Speaking at Lagos Tech Fest 2026, hosted by the Africa Tech Series, Esang said the continent’s projected $1.5 trillion digital payments opportunity represents a structural economic shift — one that requires deliberate efforts to ensure individuals, small businesses and innovators are not left behind.

He argued that the move “beyond cash” should not be framed as a competition between physical currency and digital platforms. Instead, it is about building infrastructure that allows citizens, small and medium-sized enterprises (SMEs), and fintech companies to participate fully in economic life.

“Africa’s opportunity is not simply about replacing cash with technology,” he said. “It is about creating trusted, interoperable systems that allow value to move seamlessly and securely.”

From Access to Meaningful Usage

In Nigeria, digital payments have become increasingly embedded in daily commerce, driven by mobile penetration, fintech innovation and policy reforms. However, Esang noted that expanding access is only the first step. The next phase must focus on deepening meaningful usage.

This, he explained, includes scaling merchant acceptance across both urban and rural markets, reducing transaction friction for micro and small enterprises, and ensuring that cross-border payment flows are faster and more affordable — a critical factor for trade across Africa.

He also highlighted cybersecurity as a foundational pillar for sustained growth. As digital transactions increase, building consumer trust through stronger fraud prevention systems and regulatory oversight will be essential to protect users and maintain confidence in the ecosystem.

Reaching Underserved Communities

A key theme of his remarks was the need to ensure innovation travels beyond major cities into underserved and informal communities. Without deliberate inclusion strategies, she warned, digital transformation risks reinforcing existing inequalities rather than reducing them.

Participants at the event noted that enabling deeper participation will require collaboration between regulators, financial institutions, telecom operators, fintech startups and development partners. Policy alignment, shared infrastructure and interoperable systems were cited as crucial enablers of scale.

Aligning Infrastructure, Collaboration and Intent

Esang concluded that sustainable digital growth depends on alignment across multiple layers — infrastructure readiness, institutional collaboration and clear policy intent.

“When infrastructure, collaboration and intent align, digital momentum can and does translate into inclusive, long-term growth,” he said.

Industry stakeholders at Lagos Tech Fest 2026 agreed that Nigeria’s digital payments sector is entering a more mature stage — one that moves beyond rapid adoption metrics toward resilience, interoperability and measurable economic inclusion across the continent.

Esang concluded that sustainable digital growth depends on alignment across multiple layers — infrastructure readiness, institutional collaboration and clear policy intent.