Interswitch makes LSE Companies to Inspire Africa 2017

shakirudeen taiwo

April 6, 2017 8:04 PM

Interswitch was part of 59 emerging enterprises with high potential to inspire economic growth in Africa.

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Nigeria online payments giant, Interswitch, was listed as one of the companies in the London Stock Exchange’s Companies to inspire Africa 2017.

In the report released by the London Stock Exchanges on Thursday, April 6, 2017, Interswitch was identified in the Technology and Telecom category. Also, there are 59 countries identified from Nigeria, with firms such as Diamond Bank Plc, Beloxxi, FanMilk e.t.c and many SMEs alongside many tech-up starts are identified in this report.

According to the review of the company as posted on the London Stock Exchange website, “if you make an electronic payment in Nigeria, there is a decent chance it will involve Interswitch. The company has built up a nationwide multi-channel payment network, while its Verve chips-and-pin payment card is the country’s second largest card scheme”.

Interswitch was founded in 2002 as a pioneer financial technology company in Nigeria. The company owns Verve, a widely-used brand of debit cards as well as e-payment platforms for most Nigerian banks. In March 2017, TA Associates announced acquisition of a minority stake in the company at an undisclosed amount.

This year’s report was a collaborative effort of London Stock Exchange, Africa Development Bank Group, CDC Group and PwC to reveal Africa’s most inspiring and emerging enterprises.

shakirudeen taiwo