Konga CEO pushes stablecoins as Africa’s next trade infrastructure

Prince Nnamdi Ekeh, the chief executive officer of Konga Group, has identified stablecoins and digital trust as critical tools that could transform Africa’s commerce landscape, urging businesses to embrace emerging technologies to remove barriers to trade and accelerate economic growth across the continent.

Speaking at the 2026 E-Commerce and Payments Forum organised by the Africa Retail Academy of Lagos Business School (LBS), Ekeh said Africa’s next wave of commercial growth would depend on how effectively businesses reduce operational friction, adopt innovative payment systems, and build trust in digital transactions.

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The forum, themed “Minimising Friction, Maximising Commercial Impact,” brought together regulators, fintech leaders, retailers, technology experts and business executives to discuss strategies for strengthening digital commerce across Africa.

Delivering the keynote address, Ekeh said Nigeria had made significant progress in digital payments and financial technology, earning global recognition as one of the leading markets for cryptocurrency adoption. However, he noted that business adoption of many digital innovations remains behind consumer usage.

According to him, while online transactions and fintech services have expanded rapidly, more work is needed to unlock seamless international trade and scale commercial activities across African markets.

He described stablecoins as one of the most practical innovations emerging from the cryptocurrency ecosystem, arguing that businesses should focus on their ability to improve efficiency, reduce transaction costs and facilitate cross-border payments rather than viewing them solely through the lens of risk.

“People often become nervous when they hear the word crypto. But every technology has two sides. Artificial Intelligence is creating enormous value, yet it can also be misused. The same principle applies to crypto. The focus should be on how we leverage the positive side of technology to create productivity, improve efficiency and solve real business problems,” he said.

Drawing from Konga’s experience, Ekeh revealed that the company had invested significantly in its own digital infrastructure to address payment challenges and improve access to liquidity.

He said the responsible use of emerging technologies had enabled the company to streamline business operations and create new growth opportunities, particularly in areas linked to cross-border commerce.

Trust emerged as another major issue during discussions at the forum, with participants examining how regulators, businesses and technology providers can work together to increase confidence in digital assets and new payment systems.

Ekeh expressed optimism that ongoing regulatory efforts by the Central Bank of Nigeria and the Securities and Exchange Commission would help provide clearer rules and stronger oversight for the sector.

According to him, a transparent regulatory framework is essential for encouraging innovation while protecting users and businesses.

He also highlighted the rapid shift in consumer behaviour toward digital payments, noting that electronic transactions have become commonplace even among small-scale traders and informal businesses.

“The reality is that Nigerians are already embracing digital payments in everyday life. Businesses must evolve at the same pace. We need to move beyond old assumptions about cash and fully embrace the efficiencies that digital transactions offer,” he said.

Also speaking at the event, Melvin Onochie, Vice President, Omni-Channel Sales and Commercial Planning at Konga Group, stressed the importance of removing friction across the entire customer journey.

He said businesses must focus on improving payment systems, logistics, fulfilment processes and pricing strategies if they hope to remain competitive in the increasingly crowded e-commerce market.

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According to him, companies that successfully combine convenience, speed, trust and affordability will be better positioned to capture growth opportunities as digital commerce expands across Africa.

Participants at the forum agreed that technology alone would not determine the future of African commerce. Instead, success would depend on how effectively businesses deploy innovation to solve practical challenges facing consumers and enterprises.

The consensus among industry leaders was that Africa already possesses the entrepreneurial talent, growing consumer demand and technological foundation required for transformation. What remains is the creation of stronger infrastructure, regulatory clarity and business confidence needed to scale trade across borders.

For many attendees, Ekeh’s message was clear: the future of African commerce will belong to organisations that embrace innovation responsibly, build trust and create seamless systems that allow businesses and consumers to transact without barriers.