Interswitch, the leading pan-African integrated payments processing and transaction switching company, is delighted to announce it has been ranked 1st on the Deloitte Technology Africa Fast 50 2014, a ranking of the 50 fastest growing technology companies in Africa. Rankings are based on percentage revenue growth over five years.
According to the report from Deloitte, Interswitch’s revenue grew 1,226% during this period.
Mitchell Elegbe, Group Managing Director and Chief Executive Officer of Interswitch, said:
‘We are delighted to have been ranked the fastest growing technology company in Africa by Deloitte. Africa is teeming with growth opportunities and companies that understand how to use technology to address local challenges are likely to grow on the back of these opportunities. This is what Interswitch is all about.
‘At Interswitch we saw the challenges and by extension the opportunities in electronic payments in Africa and we have diligently provided solutions over the years. We believe our success is tied to our deep understanding of Africa, the strength of our team, the culture of the organization and the completeness of our vision.’
Kamal Ramsingh, Deloitte Africa Technology Leader and partner in charge of the Deloitte Technology Fast 50 Africa programme, said:
‘Interswitch has proved itself to be one of the fastest growing tech companies in Africa, and we are proud to honour them as one of the 2014 Technology Fast 50.’
Interswitch built Nigeria’s transaction switching infrastructure and connected all the banks in the country just over 11 years ago with the strategic objective of becoming a truly pan-African electronic transactions business. In 2014 the company announced a partnership agreement with Paynet, East Africa’s leading multi-institutional payments provider, creating an unrivalled payments infrastructure spanning nine African countries.
Interswitch provides a variety of e-payment services, such as web and mobile payment platforms (including Quickteller), a pan-African chip + PIN payment card (Verve), revenue collection, management and disbursement services (Paydirect and Autopay), sales and inventory management (Retailpay) and vertical industry solutions covering industries such as transportation, government, health and energy.
Interswitch is a Pan-African, integrated payments and transaction processing company. Interswitch provides technology integration, advisory services, payment infrastructure to government, banks and corporate organizations;
Interswitch processes transactions from various channels namely: ATMs, Mobile, Point of sale, Online (web) and Kiosk.
Further information about Interswitch Limited can be found atwww.interswitchng.com
About Deloitte Technology Fast 50™ Africa
The Deloitte Technology Fast 50 Africa programme is the region’s most objective industry-ranking to focus on the technology field, recognizing technology companies that have achieved the fastest rates of revenue growth in Africa during the past five years. Combining technological innovation, entrepreneurship and rapid growth, Fast 50 companies – large, small, public and private – span a variety of industry sectors, and are leaders in hardware, software, telecom, semiconductors, internet, media, life sciences and emerging areas, such as clean technology.
The programme is supported by the Deloitte Technology Fast 50 initiatives, which rank high growth technology companies by location or specifically defined geographic area and is run by the Deloitte Touche Tohmatsu Limited’s Technology, Media & Telecommunications (TMT) global industry group. Co-sponsors include SAP, a market leader in enterprise application software, Dell, a leading supplier of technology solutions, SDEA, the small business development agency and Investec, a leading investment and private bank. More information on the programme and prior year winners is available on www. fast50Africa.com
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Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.
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