IATF 2025: $300 Million Deal to Boost Nigeria’s Digital Payment Landscape
The 4th edition of the Intra-African Trade Fair (IATF 2025), held from September 4 to 10 in Algiers, witnessed a landmark agreement set to significantly advance Nigeria’s digital economy. On Sunday, at the Palais des expositions des Pins maritimes, a substantial $300 million deal was formalized. This pivotal accord is designed to equip Nigeria with an impressive two million Electronic Payment Terminals (TPEs), marking a major step towards enhancing the nation’s financial inclusion and modernizing its payment infrastructure.
A Strategic Partnership for Digital Transformation
This transformative agreement represents a strategic collaboration between the Algerian Telephony Industry (INATEL), a prominent subsidiary of the National Telecommunications Company (ENTC), and its esteemed Chinese partner, Morefun Electronic Technology. The partnership outlines the production and subsequent export of the two million TPEs to Nigeria, underscoring a significant South-South cooperation in the technology sector. The formal signing ceremony was overseen by several high-ranking officials, including Chikh Abderrahim, CEO of ENTC, and the Executive Director of Morefun Electronic Technology. Adding to the gravity of the occasion, the proceedings were supervised by Algeria’s Minister of Post and Telecommunications, Sid Ali Zerrouki, alongside Omar Rekkache, the General Director of the Algerian Investment Promotion Agency (AAPI). This initiative is poised to accelerate the adoption of digital payments in Nigeria, fostering a more cashless society and providing crucial tools for businesses and consumers alike.
The infusion of two million TPEs into the Nigerian market through this IATF 2025 agreement will play a crucial role in expanding access to modern financial services across the country. It highlights the growing potential for intra-African trade and technology transfer, with Algeria leveraging its industrial capabilities to support a fellow African nation’s digital growth. This significant investment is not just about hardware; it’s about laying down the infrastructure for a more connected, efficient, and inclusive African financial ecosystem, driving economic development and facilitating seamless transactions for millions.
Keywords
Related Keywords: IATF 2025, Nigeria POS terminals, 300 million Nigeria agreement, African digital payments, Nigeria financial inclusion, Electronic payment infrastructure, Microenterprise payment solutions, IntraAfrican Trade Fair, Nigeria fintech development, Africa economic partnership
