Africa's digital commerce is at a tipping point, and the CEO of Konga Group, Nnamdi Ekeh, believes stablecoins and trust are the keys to unlocking its next phase. Speaking at the 2026 e-Commerce and Payments Forum hosted by Lagos Business School's Africa Retail Academy, Ekeh urged businesses to embrace emerging technologies and reduce friction in cross-border trade.
Nigeria's Progress in Fintech
Nigeria has gone very far in online transactions and fintech innovation, Ekeh stated. But there is still substantial work to be done if we are to unlock seamless international trade and scale commerce across Africa.
Stablecoins as a Solution
Ekeh highlighted stablecoins as a practical solution to payment challenges, noting Konga's success in leveraging them to access liquidity and streamline operations. He stressed that while crypto often raises concerns, stablecoins offer real business value when adopted responsibly.
Trust, he added, remains a critical issue. Yet with regulators like the Central Bank of Nigeria and SEC working on clearer frameworks, confidence in digital assets is growing. He also pointed to shifting consumer behavior, citing everyday digital transfers as proof that Nigerians are ready for a cash-light future.
Other Speakers' Insights
Other speakers, including Melvin Onochie of Konga and Damilare Ogunnaike of Moniepoint, reinforced the need to reduce friction across the customer journey – from payments to logistics – to drive sustainable growth.
Forum Conclusion
The forum concluded with consensus: Africa has the talent, demand, and technology to transform commerce. What is needed now is infrastructure, regulatory clarity, and business confidence.
