African neobank emphasizes security, simplicity, and local partnerships as key drivers for scaling digital financial services across the continent.
LAGOS, Nigeria – African neobank PalmPay outlined its strategy for expanding financial inclusion at GITEX 2025, emphasizing trust-building and local partnerships as essential elements for serving Africa’s underbanked populations.
PalmPay Executive Highlights Trust-First Approach at Major Tech Summit
Speaking at the Landmark Centre in Lagos on September 4, PalmPay Vice President of Partnerships Chibuzor Melah joined a high-level panel titled “From Idea to Infrastructure,The African Tech Executive & Founders’ Playbook.” The discussion explored how bold ideas are being transformed into scalable systems across Africa’s rapidly growing digital economy.
Melah highlighted what appear to be persistent challenges to financial inclusion across the continent. Heavy reliance on cash transactions and low levels of financial literacy among potential users remain significant hurdles. He emphasized that addressing these barriers likely requires more than just advanced technology solutions.
“Our greatest responsibility is to earn trust,” Melah said during the panel discussion. “Security and compliance must come first, because customers deserve to feel protected. But beyond that, we must make financial tools simple, accessible, and truly usable for every Nigerian, no matter their background.”
Simplicity Drives Adoption in Underserved Markets
Melah noted that simplicity seems crucial for adoption, particularly in regions where financial literacy levels present ongoing challenges. PalmPay’s platform, which currently serves 40 million customers across Africa, has been designed to be intuitive and easy to navigate for users with varying levels of technical experience. Though whether this actually translates to meaningful financial empowerment for users remains an open question.
The neobank has focused on creating user interfaces that minimize complexity while maximizing functionality. This approach appears to be working, PalmPay has experienced significant growth in markets where traditional banking services have struggled to gain traction among lower-income populations. But growth numbers don’t always tell the full story about user satisfaction or long-term impact.
Three-Pillar Strategy for Infrastructure Development
Melah outlined what he described as PalmPay’s systematic approach to moving from initial concept to full infrastructure deployment across African markets. The strategy centers on three core pillars that have supposedly guided the company’s expansion efforts.
First, the company launches with a hero product that delivers immediate, tangible value to users. This approach may help establish credibility and demonstrate practical benefits before introducing more complex financial services. Second, PalmPay builds strong local partnerships to meet genuine community needs rather than imposing external solutions. These partnerships help the company understand regional preferences, regulatory requirements, and cultural factors that influence financial behavior.
Third, the neobank maintains operational agility through decentralized decision-making processes. This structure allows rapid adaptation to Africa’s diverse markets, each with unique economic conditions, regulatory frameworks, and consumer preferences. At least, that’s the theory, executing this kind of localized approach at scale can be incredibly challenging.
Addressing Africa’s Financial Inclusion Gap
The financial inclusion challenge across Africa remains substantial. Millions of adults still lack access to formal banking services, and traditional banks have often struggled to serve rural and low-income populations due to infrastructure costs and regulatory complexities.
Digital banking platforms like PalmPay are attempting to bridge this gap by leveraging mobile technology and simplified user experiences. The company’s growth to 40 million customers suggests that demand for accessible financial services remains strong across the continent. But it’s worth noting that user acquisition and actual financial inclusion aren’t necessarily the same thing.
Challenges persist beyond technology adoption. Regulatory frameworks vary significantly between African countries, and building trust among populations with limited exposure to formal banking requires sustained effort and proven reliability. Some critics argue that digital-first approaches may inadvertently exclude the most vulnerable populations who lack smartphone access or digital literacy.
Industry Impact and Future Outlook
Melah concluded his remarks by urging African innovators to maintain agility while tailoring their branding and solutions to local market conditions. He emphasised that customer experience should remain the primary focus as companies scale their operations, though balancing user experience with profitability pressures can be tricky for any fintech.
PalmPay’s presence at GITEX 2025 reflects its broader strategy of combining technology with local market insight. The company aims to foster financial inclusion while empowering millions of users across Africa to participate more fully in the digital economy.
The neobank’s approach may serve as a model for other fintech companies seeking to expand in emerging markets where trust, simplicity, and local relevance often matter more than cutting-edge features. Whether this model proves sustainable long-term remains to be seen, especially as competition in the African fintech space continues to intensify.
As Africa’s digital economy continues expanding, the success of platforms like PalmPay could significantly influence how financial services evolve across the continent. The emphasis on trust-building and community partnerships may prove essential for achieving sustainable growth in these markets, though only time will tell if these strategies deliver meaningful financial empowerment for Africa’s underbanked populations.
