Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, has emphasised the critical role of Artificial Intelligence (AI) in shaping the future of work and the digital economy. Franklin Ali, Group Chief Human Resources Officer, Interswitch, shared these insights during the InnovateAI Conference Lagos 2025, recently held at the Landmark Centre, Victoria Island, Lagos. Interswitch participated as a Platinum Sponsor for the second consecutive year, reinforcing its commitment to advancing AI-driven innovation across Africa. Themed “Scaling AI Adoption in Nigeria: Catalysing Cross-Sectoral Innovation and Fostering Inclusive Growth,” the conference brought together AI enthusiasts, industry experts, scholars, and innovators and provided a platform for knowledge exchange, thought-provoking discussions, and hands-on learning sessions. These sessions aimed to accelerate AI adoption across key industries, including fintech, financial services, public services, and oil and gas, to boost operational efficiency and drive economic growth.During a panel session titled “AI & The Future of Work in Nigeria,” Ali highlighted the urgent need for young professionals to embrace AI skills, mindset shifts, and continuous learning to stay relevant in an increasingly automated world.“The AI economy is a gateway to the knowledge economy, and it is imperative that we embrace this shift,” Franklin stated. “While AI adoption in leading economies like America and China remains below 50 per cent, these nations are at the forefront of AI advancements. To compete globally, Nigeria must prioritise reskilling and upskilling its workforce, fostering a mindset shift, and equipping professionals with core and enabling skills such as data literacy, JavaScript, and other technical competencies.”He also emphasised the importance of targeted learning and problem-solving: “AI is not just a buzzword; it is a tool for solving real-world problems. For instance, traffic congestion in Lagos is a challenge that can be addressed through AI-driven solutions. However, adept use of AI technology requires a deep understanding of core tech skills in areas like natural language processing, robotics, and machine learning. We must learn AI not for the sake of it but to solve specific problems that impact our society and economy.”Ali further encouraged young professionals to seize opportunities in the tech industry, noting its significant financial rewards and career growth potential. He also challenged the misconception that AI is exclusive to tech fields, urging professionals across all industries to embrace digital transformation or risk obsolescence. He pointed out that while AI could lead to job displacement for those unwilling to adapt, whilst presenting new opportunities for those equipped with relevant skills. One of the standout segments at the event, the Innovation Showcase, spotlighted groundbreaking AI-driven solutions tailored to Nigeria’s unique challenges, further reinforcing the role of AI in transforming key sectors.Interswitch’s sponsorship of the InnovateAI Conference Lagos 2025 underscores the company’s steadfast commitment to advancing technology and its applications, including AI, to drive financial inclusion and digital transformation. By collaborating with key stakeholders and fostering industry-wide conversations, Interswitch aims to drive AI-powered innovation that will propel Nigeria’s digital economy forward.As a pioneer in Africa’s fintech space, Interswitch remains dedicated to championing initiatives that harness technology’s transformative potential to unlock new opportunities, stimulate economic growth, and elevate user experiences. As the conversation around AI continues to gain momentum, Interswitch remains fully invested in shaping its future and accelerating its integration into Africa’s dynamic digital landscape.

Lagos, Nigeria – February 25, 2025 – Interswitch, one of Africa’s leading integrated payments and digital commerce companies, has been recognised as one of the “Happiest Workplaces Around the Globe 2024”.

This prestigious recognition, awarded by Happy Workplaces®, a company dedicated to making employee well-being a benchmark for business success, places Interswitch among just nine companies in Nigeria to receive this honour, highlighting the company’s unwavering commitment to fostering an exceptional workplace culture.The “Happiest Workplaces Around the Globe 2024” certification is based on a comprehensive methodology that includes meta-analysis, employee surveys, and HR-checks. Happy Workplaces® evaluated workplaces across 23 countries, leveraging insights from over one million employees and 236 workplace rankings.

In Nigeria, 42 companies were assessed, with Interswitch earning recognition for its outstanding dedication to employee well-being, engagement, and satisfaction.Franklin Ali, Group Chief Human Resources Officer, Interswitch, commented on the recognition:“We are honoured to be recognised as one of the ‘Happiest Workplaces Around the Globe 2024.’

This achievement reflects our unwavering commitment to fostering a workplace where employees feel valued, empowered, and inspired to excel. At Interswitch, we believe our people are our greatest strength, and this recognition celebrates the inclusive, innovative, and supportive culture we’ve built together.”

Research from Happy Workplaces® reveals that only 66 per cent of recognised companies report challenges with talent acquisition and retention, compared to a higher 84 per cent among companies that did not make the list.

This competitive advantage positions Interswitch to continue attracting and retaining top talent in the competitive fintech landscape.

Interswitch’s recognition comes as the company continues to expand its footprint across Africa, driving financial inclusion and digital payment innovation across the continent.

The company’s positive workplace culture has earned it several other awards and recognitions including the Best Employer Brand (Sub-Saharan Africa) in the 2023 LinkedIn Talent Awards; Winner, HR Best Practices Award in the 2023 HR Oscars and the 2022 Leading Company in Diversity, Equity, and Inclusion by Hofstede Insights.Interswitch’s focus on creating and maintaining an enabling workplace environment has been instrumental in fuelling the creativity, collaboration, and dedication needed to maintain its position as an industry leader.For more information about Interswitch and career opportunities, visit www.interswitchgroup.com.

Fidelity Bank Plc is making impressive strides on its path to fulfilling the recapitalization targets set by the Central Bank of Nigeria (CBN). With a successful first phase of its capital-raising initiative that recorded over 238% over subscription and share price growth of over 100% evidencing a huge surge in investor confidence for the bank.

Following the successful completion of phase 1 of its capital raise, the bank is exceptionally well-positioned to not only meet the regulatory threshold strengthen but also fuel its growth trajectory.

With the recent conclusion of its equity capital raise through a Public Offer and Rights Issue, collectively known as the Combined Offer. The response has been nothing short of extraordinary, with the Public Offer oversubscribed by an astounding 237.92%. This translates to 107,588 valid applications for a total of 23,768,724,000 ordinary shares, amounting to ₦231.7 billion. The Rights Issue also shone brightly, achieving a remarkable 137.73% subscription rate with 6,903 valid applications for 4,407,252,795 ordinary shares, totaling ₦40.7 billion.

Dr. Nneka Onyeali-Ikpe, the Managing Director and CEO of Fidelity Bank, expressed heartfelt gratitude for the overwhelming support from investors, stating, “The positive results recorded in our Combined Offer are a testament to the strength of the Fidelity Bank franchise in the capital market.” Such a robust response not only underscores investor confidence but also reaffirms the bank’s unwavering commitment to delivering innovative financial solutions and sustainable returns to its stakeholders.

Following this remarkable success, Fidelity Bank has secured shareholder approval to launch the second phase of its capital-raising initiatives. This includes a significant increase in the bank’s issued share capital from ₦26.7 billion to ₦36.7 billion. Shareholders endorsed this expansion during an Extraordinary General Meeting on February 6, 2025, approving the creation of an additional 20 billion ordinary shares of ₦0.50 each.

This strategic capital boost positions Fidelity Bank to meet the CBN’s new minimum regulatory capital requirement of ₦500 billion for banks with international authorization by March 31, 2026. This ambitious goal aligns seamlessly with the bank’s vision for sustainable growth and exceptional service delivery, setting the stage for a dynamic future.

Fidelity Bank’s stock performance has further solidified its status as a top contender in the financial sector. From an initial offer price of ₦9.75 per share during the Public Offer, shares soared to a high of ₦21.15 on February 7, 2025, representing an impressive growth rate of over 116%. This positions Fidelity Bank as one of the best-performing financial institutions in the market, with analysts from Apel Asset Limited noting an impressive 80% return on investment for shareholders who have held shares since 2023.

Market analysts project a considerable upside potential of 28.88%, establishing a fair value of Fidelity Bank at ₦23.15 against a reference price of ₦19.50. Such promising indicators not only enhance investor confidence but also position Fidelity Bank as a compelling investment opportunity within the Nigerian banking landscape.

The funds raised from the initial phases of the capital-raising exercises are earmarked for several key initiatives. Fidelity Bank plans to utilize these resources for local and international business expansion, enhancing technology infrastructure, and improving customer service initiatives. This proactive approach showcases the bank’s commitment to innovation and operational excellence.

As the bank gears up for the next phase of its capital-raising initiative, the primary focus remains on achieving its recapitalization targets while consistently delivering value to stakeholders. The bank’s leadership is confident that, with sustained investor support and a robust financial strategy, it will adeptly navigate the evolving landscape of the Nigerian banking sector.

Fidelity Bank’s recent achievements in capital raising signal a pivotal moment in its journey toward strengthening its financial foundation. With robust investor backing, strategic capital allocation, and a clear vision for growth, Fidelity Bank is not just on track to meet its recapitalization target—it is poised to exceed it.

The road ahead promises to be one of sustained growth and innovation, reinforcing Fidelity Bank’s position as a leader in the Nigerian financial sector. As the bank looks toward the future, it remains steadfast in its commitment to fostering strong relationships with investors and delivering on its promise of financial excellence and exceptional customer satisfaction.

Fidelity Bank’s proactive measures and impressive market performance pave the way for a brighter, more prosperous future—one where it continues to lead with integrity and vision in the ever-evolving financial landscape.