Lagos, Nigeria’s vibrant megacity, is known for hosting a thousand and one conferences every year. From tech and real estate to leadership and feminism, there is always something happening.
Understandably, many people have different opinions about these events, but everyone in the tech space will agree that the annual Moonshot Conference hosted by TechCabal, is one of a kind.
At this year’s Moonshot event, Cardtonic leaders took the stage in a grand style. The spotlight was on a transformative panel session by the Growth lead, Tomisin Oduyemi, discussing “Scaling, Compliance, and the Cost of Growth for Fintech in Africa.” In addition, Cardtonic CEO Emmanuel Sohe delivered an inspiring speech on “Building Resilient Fintech Products for Africa’s Dynamic Economy.”
Both sessions left a lasting impression on attendees. If you missed the discussions, here’s a quick look at key insights shared by the Cardtonic’s leaders.
Why Scaling and Compliance Matter in African Fintech Today
Scaling as an Africa Fintech isn’t just about handling more users or transactions. It’s about expanding sustainably, while compliance ensures that this growth happens within safe, transparent, and legal boundaries. Together, they form the backbone of any fintech that hopes to grow in Africa’s digital economy.
Tomisin Oduyemi, Cardtonic’s growth lead, opened the panel session with a story that brought this to life.
She explained how, back in 2021, Cardtonic’s transaction volumes suddenly spiked. What happened was Nigerian cards had just been restricted for international payments, and both individuals and businesses were desperately looking for new ways to make cross-border purchases. That period brought a flood of users to Cardtonic, but it also came with a surge in fraud attempts.
“Imagine people creating fake profiles and trying to move money around at 2 a.m.,” Tomisin shared. “Unfortunately for them, it didn’t work.”
What protected the company was a safety feature that only allowed users to fund and withdraw from their own accounts. It was a small rule that made a big difference.
Cardtonic’s Perspective on Responsible and Sustainable Scaling
Tomisin’s story opened the floor for a deeper discussion on what responsible growth truly means for fintechs operating in Africa.
Drawing from Cardtonic’s experience, Tomisin shared practical insights on how fintechs can expand sustainably while earning and maintaining trust across borders. Below are some of her views.
Understanding the Uniqueness of Each Market
According to Tomisin, one of the biggest mistakes fintechs make when expanding is assuming that compliance looks the same everywhere. “Compliance has never been a one-size-fits-all kind of shoe,” she noted.
She explained that each market has its own trust psychology, and ignoring that can damage credibility before a product even launches. For instance, rolling out a tax-related app in Nigeria without approval from the Federal Inland Revenue Service (FIRS) would instantly raise doubts about its legitimacy.
To avoid this, she advised that fintechs take time to identify key regulators, licenses, and documentation that might shape user perception and market access. “Before building that shiny new product,” she said, “try to understand what each market requires, both legally and emotionally.”
Building Practical Collaboration Across Borders
On the subject of uneven regulatory frameworks across Africa, Tomisin took a realistic stance. While regional harmonisation sounds ideal, she pointed out that every regulator is solving different local problems, so a single rulebook for the continent is not likely in the near future.
Instead, she emphasised the value of smaller, practical collaborations, regulators sharing learnings, aligning on core principles like KYC and data protection, and keeping communication channels open.
She also stressed that fintechs must lead by example. “If you build disciplined systems at home and engage regulators transparently, you’re more likely to be trusted when you expand elsewhere,” she explained. In her words, cross-border credibility begins with local responsibility.
How Compliance Shapes Cardtonic’s Growth Strategy
When asked how regulatory frameworks affect Cardtonic’s growth strategy, Tomisin explained that compliance is not a barrier but a guide. It defines how the company builds and communicates its products.
For instance, Cardtonic ensures that every product guide and video clearly explains KYC levels and what each tier allows users to do. “It makes us more deliberate about educating users,” she said.
Marketing is also handled with care. Every major campaign goes through ARCON approval before publication, ensuring transparency and accuracy.
“It keeps us diligent to timelines and helps us avoid overpromising,” she added.
While some fintechs slow expansion due to high compliance costs, Cardtonic has never had to deprioritise a market. The company believes in growing deeply before expanding wide, and that focus continues to pay off.
Cardtonic’s Journey and How It Has Shaped the Future of Digital Transactions in Africa
And just when you thought you couldn’t get any more solid stuff from Cardtonic Leaders, Emmanuel Sohe, the CEO, decided to deliver a beautiful speech to inspire the next generation of fintech growth in Africa.
But, instead of giving a boring speech on “Building Resilient Fintech Products for Africa’s Dynamic Economy,” he chose to tell Cardtonic’s story of grit and adaptability.
He recalled how the 2021 CBN ban on crypto transactions forced the team to rethink everything. And within days, they had to rebuild the app, remove crypto features, and reshape Cardtonic into what it is today. That tough moment became the foundation for new solutions that now let users trade gift cards, pay local and international bills, and make global purchases with Cardtonic’s Virtual Dollar Card.
Emmanuel ended by reminding innovators that resilience means turning challenges into opportunities. “We didn’t give up on dreams,” he said, “we focused on value, discipline, and growth that lasts.”
Wrapping Up
This year’s Moonshot event was a spectacular one, and Cardtonic’s presence truly contributed to its success. From insightful panel discussions to powerful storytelling, the brand reaffirmed its position as one of Africa’s most forward-thinking fintechs.
As a Platinum Sponsor of the event, Cardtonic’s participation made an even greater impact, inspiring conversations around innovation, resilience, and the future of fintech in Africa.
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