Folasade Femi-Lawal, the newly appointed Country Manager and Area Business Head for West Africa at Mastercard, discussed the company’s plans to introduce an offline digital payment option in Nigeria and its commitment to improving lives through innovative financial solutions.
As the new country manager for West Africa, Femi-Lawal aims to drive innovation in digital payment technologies to cater to the diverse needs of consumers and businesses in the region. She emphasized Mastercard’s focus on partnering with local businesses and governments to curate products and services tailored to specific markets, with the goal of advancing financial inclusion and digital transformation.
Mastercard’s initiatives in West Africa include collaborations to provide digital wallets, supply chain finance, financial training, credit access, and innovative payment solutions, particularly targeting small and medium enterprises (SMEs) and merchants. Femi-Lawal highlighted the importance of fostering financial literacy and consumer education to empower individuals and businesses.
To promote financial inclusion, Mastercard is actively expanding digital payment options through its Digital First program and initiatives like the Community Pass, an interoperable digital platform designed for underserved populations. The Community Pass works offline, making it accessible in remote areas with limited connectivity. Additionally, Mastercard is partnering with governments, banks, and telecommunications companies to enhance the accessibility of financial services in underserved areas across West Africa.
Femi-Lawal also discussed Mastercard’s commitment to fostering inclusive growth and empowerment, particularly for women and children, through initiatives like Girls4Tech, which aims to introduce girls to STEM fields from a young age.
Looking ahead, Femi-Lawal outlined Mastercard’s strategy to position itself competitively in the region’s digital payment space by leveraging partnerships, innovation, and investments in technology. She emphasized Mastercard’s goal to advance inclusive growth and financial inclusion in Africa, ultimately aiming to enhance its digital payment solutions and increase market share in the coming years.
