Acquisitions are on the table for Redtech Ltd as the fintech plans an expansion drive that will see it enter 29 African countries by 2027.
The Lagos-based payments company, backed by Heirs Holdings, is positioning itself for continental scale following a breakout 2025 financial year in which it processed ₦30 trillion ($20.6 billion) in transactions, more than double the ₦12 trillion ($8.2 billion) recorded in 2024.
Speaking in an interview with Techpoint Africa, CEO Emmanuel Ojo confirmed that mergers and acquisitions are part of Redtech’s expansion playbook.
“It’s all on the table,” he said when asked whether acquisitions could feature in the company’s growth strategy.
Redtech currently operates primarily through RedPay, its payments platform offering POS terminals, merchant collections, payment gateways, and digital payment channels. In its first full year, the company says it onboarded over 35,000 merchants and deployed tens of thousands of POS devices across Nigeria.
Having entered the market just as POS penetration appears to stagnate, Ojo says Redtech is pursuing a diversified approach. The company serves both high-velocity, low-ticket merchants and lower-frequency, high-value enterprise clients. It also works with financial institutions to support deposit mobilisation.
That positioning comes at a time when Nigeria’s agent banking margins are tightening due to increased competition and regulatory adjustments from the Central Bank of Nigeria (CBN). While some major players are shifting focus toward broader merchant services and digital products, Redtech appears to be straddling both worlds.
Ojo argues that agency banking remains strategically important, particularly as banks look to meet recapitalisation requirements ahead of the CBN’s 2026 deadline. Agent networks, he notes, serve as alternative channels for account opening, deposit mobilisation, and last-mile financial services, especially beyond traditional banking hours.
Redtech’s enterprise tilt may also be its differentiator in a crowded market dominated by players that have built strong capability in the consumer payments space. According to Ojo, the company’s deeper system integration across large enterprises and financial institutions enables it to process high transaction volumes with minimal downtime.
Victoria Fakiya – Senior Writer
Techpoint Digest
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The fintech is also deepening its relationship with United Bank for Africa (UBA), where it acts as a systems integrator and infrastructure provider. Redtech has implemented mobile banking solutions for UBA in five West African countries and plans to support the bank’s cross-border expansion across its African footprint.
Beyond Nigeria, Redtech says it has begun building mobile banking and payment infrastructure in several Francophone West African markets, including Benin, Burkina Faso, Senegal, and Mali.
“We have developed mobile banking solutions in certain French-speaking countries — Burkina Faso, Senegal, Mali, and the Republic of Benin. The next phase will be moving between West and Central Africa, but what will really inform our decision for every move that we make is to ensure that we’ve established regulatory permits in either of those countries or strategic local partnerships,” Ojo said.
To fund its next phase, the company is considering raising up to $100 million in private capital over the next two years. For now, however, a public listing is off the table. Over the next two years, it aims to process ₦100 trillion annually while deploying over 100,000 POS terminals.
