PalmPay has called for stronger infrastructure and better access to finance for small businesses as essential to the next phase of financial inclusion and economic growth in Nigeria.
This position was shared by Chika Nwosu, Managing Director of PalmPay Nigeria, during a panel session at Digital Pay Expo 2026, where regulators, fintech leaders, payment operators and other key ecosystem stakeholders gather to discuss the future of digital payments in Africa.
Speaking during a session focussed on advancing financial inclusion and SME growth, Nwosu said that while the micro, small, and medium enterprises remain central to economic activity, many still face real barriers around access to credit, reliable payment infrastructure, and the relevant digital tools needed to grow sustainably.
According to him, meaningful financial inclusion must go beyond onboarding more users into the formal financial rail. It must also address the structural issues that limit how small businesses participate, transact, and scale.
“SMEs contribute 40 per cent of the country’s GDP. For us in PalmPay,
Financial inclusion is not just about enabling transactions. It is also about helping businesses access the tools and support they need to expand, build resilience, and create jobs.
He also highlighted the importance of digital literacy, noting that as digital tools and AI become more embedded in financial services, business owners must be equipped to use them effectively and responsibly.
For PalmPay, the future of inclusion will depend not only on innovation, but on how well the ecosystem reduces friction for small businesses and provides the infrastructure and financial support they need to grow.
Discussions at the event also pointed to the need for stronger collaboration across the ecosystem and more practical approaches to helping SMEs move from awareness to adoption of digital financial services.
PalmPay’s MD noted that unlocking the full potential of Nigeria’s SMEs will require a combination of accessible finance, financial education, trusted platforms, and coordinated ecosystem support.
About PalmPay
Founded in 2019, PalmPay Group is a multinational fintech company focused on providing large-scale digital financial services in high-growth emerging markets such as Africa and South Asia.
Relying on a fully independently developed technical architecture, PalmPay Group covers individual and merchant services such as payments, savings and wealth management, credit, and merchant acquiring. Where smartphone ownership is the barrier to digital finance, PalmPay finances the device itself, often giving people their first phone and first financial account in a single transaction.
The Group has established a leading position in multiple high-growth regions, and is recognized by TIME, the Financial Times, CNBC, and more as one of the world’s top finance companies. Its contributions to financial inclusion have also received official acknowledgement from the central bank regulatory authorities in its core operating markets.
For more information, please visit palmpay.com.
