Africa’s digital economy needs more than apps to scale

Africa’s digital economy needs more than apps that connect users to services. It also depends on reliable transport, location data, access to financing, and shared infrastructure that businesses can build. That was a central theme of the “Beyond the App: Building the Infrastructure Behind Africa’s Everyday Economy” panel at Moonshot by TechCabal 2026.

“The app is just the front-end,” said Sanusi Adedamola, chief operating officer (COO), Fez Delivery, representing Seun Alley, chief executive officer (CEO), Fez Delivery. For companies operating in ride-hailing, delivery services, and electric mobility sectors, getting a product into users’ hands is only one part of the challenge.

They must also ensure that vehicles are available, services can locate customers, and the economics of operating in each market make sense.

This distinction is important in markets where businesses face unreliable power, patchy connectivity, fragmented logistics and disconnected cross-border payment systems. These constraints can increase operating costs, reduce service reliability, and make expansion into new markets more complicated.

Nigeria offers a practical example of this challenge. Uneven internet connectivity continues to affect businesses even in Lagos, the country’s leading commercial and technology hub. The gap illustrates how a strong market for digital services does not automatically guarantee the reliable connectivity businesses need to serve customers and expand.

Financing is another constraint. A company providing vehicles to commercial riders, for instance, must assess whether those assets can generate enough income to cover operating costs and loan repayments. During the panel, Chinwe Adighiogu, Senior Vice President (SVP) / vice president (VP) of Products at one of Africa’s leading eco-friendly EV companies, MAX, highlighted how information about riders’ activity, daily earnings, maintenance costs, and battery use can help determine affordability.

Such operational data can also help lenders assess borrowers who may lack conventional banking histories, he said.

World Bank research published in The World Bank Economic Review in 2024 found that investment in roads and electricity boosts activity in Africa’s manufacturing and services sectors. A key discussion was whether companies should build infrastructure alone or share the costs. Mapping streets and neighbourhoods is expensive, but the resulting data can benefit multiple businesses. Similarly, shared charging and battery-swapping networks could help electric mobility operators avoid building isolated systems.

Africa’s digital economy will depend not just on the apps people download, but on the infrastructure that keeps them running. A slick app means little if a delivery cannot reach a customer, a payment stalls or a vehicle cannot find a charging point. The real test is whether the infrastructure behind the screen can turn digital convenience into an everyday reality.

Grey, the Y Combinator-backed cross-border payments company, has launched Paycheck, a salary account for professionals earning in United States dollars, British pounds, and euros, as it sets its sights on growing beyond its current base of three million users.

The company, which has processed nearly $5 billion in payments since its inception and recorded a 170% year-on-year increase in total payment volume, announced the new product at Moonshot by TechCabal 2026 in Lagos, Nigeria, on Wednesday.

“After a month of work, employees should have more to look forward to than the additional responsibility of sorting through transactions and keeping track of their earnings,” Idorenyin Obong, Grey’s co-founder and chief executive officer, said during a keynote address at Moonshot.

“A salary is central to how people meet their needs, plan ahead, and build financial security. We believe the financial services they use should reflect that importance.”

Founded in 2020 by Obong and Femi Aghedo, Grey has expanded from a currency exchange platform to a cross-border payments company serving individuals and businesses.

Its latest product, Paycheck, extends that expansion into salary management for professionals earning in foreign currencies.

Paycheck allows users to receive and manage their salaries in foreign currencies, automatically organise salary transactions, and access benefits including higher interest rates on savings, increased transaction limits, and priority customer support.

Existing customers receiving salaries through Grey can activate Paycheck without changing their account details. New users can share their Grey account information with employers or payroll providers, with the service activated after their next qualifying salary payment.

The launch marks another step in Grey’s efforts to move beyond facilitating cross-border transactions into offering financial services built around recurring income.

Grey Business, its multi-currency payment platform for startups and small businesses, has processed nearly $100 million since launching in February 2026. The platform allows businesses to receive international payments, manage foreign currency accounts, and send money across borders.

In June, TechCabal reported that the platform had processed $61.4 million in its first four months, driven partly by demand for stablecoin-based transactions.

The company said African markets, including Kenya, continue to record strong growth, with 30% month-on-month growth.

Grey has also introduced Chinese yuan payouts, enabling individuals and businesses to pay suppliers and other recipients in China. The company operates across 70 countries and supports payouts to over 170 destinations worldwide.

During his Moonshot keynote, Obong said the company was looking to expand beyond its current customer base, with ambitions to reach 10 million, and eventually 20 million users.

Grey’s strategy is that customers who come to the platform to collect money from abroad will have more reasons to stay if they can also manage their paychecks there.

With Paycheck, the company wants to turn an occasional transaction into a regular financial habit.