Interswitch champions African innovation, economic sovereignty at Soft Power Summit

BY MOTOLANI OSENI

Interswitch Group has called for a renewed focus on homegrown innovation and economic autonomy, urging African nations to reduce dependence on foreign capital and prioritise locally developed technology solutions. The fintech giant made this appeal at the 2025 Africa Soft Power Summit in Nairobi, Kenya, where leaders, policymakers, and innovators gathered to shape the continent’s digital future.

Representing Interswitch, Bernard Kinara, Country General Manager for Kenya, underscored the company’s commitment to building an inclusive digital ecosystem that reflects African realities. He stressed the importance of collaboration among fintechs, banks, and regulators to enable seamless cross-border payments and regional economic integration.

“Innovation must reflect Africa’s needs. We are driving inclusive growth by breaking down barriers and creating access through locally developed solutions,” Kinara said, citing Interswitch’s role in financial inclusion and its initiatives like #InterswitchSPAK, which empower youth and women through education and technology.

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He also highlighted the transformative role of artificial intelligence in addressing language and gender disparities, while warning of the risks of bias and the need for responsible AI development tailored to African contexts.

A key theme at the summit was Africa’s vulnerability to external influence due to its heavy reliance on foreign investment in the tech sector. Speakers advocated for stronger regional frameworks and digital sovereignty to retain control over policy, data, and innovation. The urgency for AI literacy among policymakers was also stressed, along with the need for improved data protection laws and public trust in digital systems.

The summit concluded with a call for infrastructure and regulatory frameworks that prioritise African-led development, echoing Interswitch’s long-standing vision of a digitally empowered continent.