African enterprises have come to realise that disjointed payment systems are a significant obstacle in an increasingly competitive business environment. Fragmentation in the financial ecosystem is more than a technical inconvenience; it imposes a substantial economic burden. According to the African Continental Free Trade Area Secretariat, the continent incurs up to five billion dollars annually on currency conversion costs alone. This translates into higher transaction expenses, delayed payments, and missed commercial opportunities that cumulatively stifle economic growth.
“As digital commerce surges and mobile payment adoption increases across the continent, businesses are actively seeking integrated financial solutions that not only simplify operations but also enhance the customer journey.”
The demand for systems that support efficiency, transparency, and scalability has never been greater.
To address these inefficiencies, initiatives like the Pan-African Payment and Settlement System are being implemented to facilitate direct currency exchanges between African countries. This eliminates the need for intermediary currencies such as the United States dollar. While promising, full financial integration across African markets remains a complex task. Regulatory inconsistencies, cross-border compliance issues, and infrastructure limitations continue to delay the pace of progress.
In this evolving landscape, Zest, the fintech arm of Stanbic IBTC Holdings, has emerged as a transformative force. With a clear focus on payment orchestration tailored to sector-specific needs, Zest is redefining how businesses engage with Africa’s growing digital economy.
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At the heart of Zest’s value proposition is its commitment to unifying Africa’s fragmented payment ecosystem. Its flagship platform provides a consolidated gateway that brings together diverse payment options, including debit and credit cards, mobile money wallets, bank transfers, USSD, and QR codes. All of these are integrated into a single, user-friendly dashboard designed to help businesses manage transactions more intelligently and efficiently.
By merging these payment streams into one interface, Zest eliminates the logistical burdens associated with juggling multiple providers. Businesses are equipped with advanced tools such as real-time reporting, instant settlements, reduced payment failure rates, and access to actionable customer insights. These features do more than simplify payments; they enable data-driven decision-making that supports long-term growth.
“Businesses today do not just need to accept payments. They need to create experiences that are fast, seamless, and scalable,” said Stanley Jacob, Chief Executive Officer of Zest.
Tailored solutions for industry-specific challenges
Zest’s greatest innovation lies not just in its technology but in its approach to solving real-world business challenges through customised solutions. Unlike traditional service providers that rely on a one-size-fits-all model, Zest prioritises deep sector engagement and platform flexibility.
In the energy sector, one of its clients operates over one hundred fuel stations across Nigeria. Zest enables this client to track transactions in real time and align them with inventory levels. Additionally, it supports a card-based loyalty programme and pre-funded account services, creating a tightly integrated solution that meets multiple business needs within a single ecosystem.
In the maritime logistics space, Zest works with a major player in the ports industry by providing a tailor-made payment infrastructure. This system accounts for the complexity and volume of port operations, ensuring that revenue collection is seamless, auditable, and aligned with the unique dynamics of maritime transactions.
Bridging the gap for small businesses
While Zest delivers high-impact solutions for large enterprises, it does not overlook the needs of smaller businesses. For small and medium-sized enterprises, the platform provides embedded shopfronts, free of charge, that allow merchants to manage product catalogues and accept payments digitally. These shopfronts are integrated directly into the payment dashboard, enabling a professional digital presence with minimal setup.
The platform supports various payment methods across different channels, including account-based transfers, cards, QR codes, USSD, Apple Pay, and Google Pay. Zest offers one of the most competitive pricing structures across these rails. Importantly, merchants are not tied to any single financial institution and can receive settlements into any Nigerian bank of their choice.
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“For African small and medium-sized businesses and corporate organisations, orchestrated payments have become essential infrastructure for survival, not just a competitive advantage,” said Ifeoluwa Adekunle-Yusuf, Vice President of Products and Engineering at Zest.
According to McKinsey & Company, digital payments in Africa are projected to generate more than forty billion dollars in annual revenue by 2025. Mobile money usage now reaches approximately forty-six percent of the continent’s population. These statistics underscore the urgency for businesses to align with fintech partners that understand the nuances of the African operating environment.
Zest’s platform is designed to empower a wide spectrum of users, from small retailers and school proprietors to artisans and service providers, ensuring that all businesses, regardless of size or sector, can deliver reliable and modern payment experiences to their customers.
As African businesses advance in their digital transformation journeys, the ability to process payments with speed, accuracy, and customer-centred efficiency will be a key determinant of success. Companies like Zest are not just offering technology; they are offering a vision of inclusive, scalable progress for African commerce.
