How Mitchell Elegbe built Interswitch into the sovereign payment rail of Africa

How Mitchell Elegbe built Interswitch into the sovereign payment rail of Africa

In SummaryFollowing a difficult 2023 impacted by foreign exchange volatility, Interswitch achieved a 50% revenue surge to ₦137.5 billion for the fiscal year ending March 2025, yielding a ₦14.7 billion profit after tax.Elegbe pioneered Verve, Africa’s first successful domestic card scheme, which officially surpassed the 100 million cards issued milestone in December 2025, becoming the continent's largest homegrown payment network.Beyond consumer …