By Olakunle Oke
The Chief Executive Officer of MTN Nigeria, Karl Toriola, has announced that the telecom giant is working to establish trusted digital identity and payment frameworks to strengthen transactions and enhance connectivity between Nigeria and South Africa.
Toriola made this known during the Nigeria South Africa Economic Diplomacy Roundtable held in Lagos, where he emphasized the need for both nations to move from policy intentions to actionable implementation.
According to him, the creation of trusted digital rules will allow small and medium-sized enterprises (SMEs) to sell products seamlessly, enable creators to earn sustainably, and support smooth funding of transactional markets across both countries.
“We gather here for a simple purpose: to turn intent into execution,” Toriola said. “South Africa and Nigeria are aligned in their leadership and intent. We aim to build trusted rules in terms of digital identity and payments that care for us between our countries and across the continent. These rules would let SMEs sell, creators create and earn, and fund these transactional markets.”
He called on policymakers to translate discussions into practical actions that will drive trade and innovation under the African Continental Free Trade Area (AfCFTA).
“We in Nigeria will play our part in developing networks, platforms, and partnerships to make the African free trade agreement work on the ground not just on paper,” Toriola stated.
Beyond promoting trade, the MTN boss stressed that regulatory predictability remains vital for attracting and retaining investment in the region. He explained that investors value a transparent and stable business environment over temporary market conditions.
“Once the signals and regulations are clear, time-bound, and transparent especially around taxes, foreign exchange, and repatriation rules investors will stay,” he said. “Predictability is not just a trigger for business; it’s a core strategy to create jobs and generate revenue.”
