Interswitch Returns to N23 Billion Profit as Nigerian Business Drives Over 90% of Revenue
Interswitch has returned to profitability with a N23 billion net profit after a prior-year loss, with its Nigerian operations generating more than 90 percent of total group revenue. The recovery marks a significant turnaround for Africa's oldest fintech company and signals renewed health in Nigeria's payments sector.
Interswitch: twenty years in, and Nigeria is still doing all the work
Nine out of every ten naira Interswitch earns still comes from Nigeria — after two decades of operating across the continent.
That's the real number inside this recovery story. The profit swing is genuine and the Nigerian business is clearly strong. But Interswitch has had more time than almost any African company to crack the pan-African problem, and the geography hasn't shifted.
It tells you something important: home-market dominance and continental scale are not the same thing, and the distance between them is much harder to close than any pitch deck admits.
2 sources
- Interswitch’s Nigerian Business Drives Over 90% of Revenue as Profit Returns · innovation-village.com · T2
- Interswitch returns to N23bn profit as Nigeria drives over 90% of revenue · technext24.com · T2