Tony Elumelu Unveils RedPay, Positioning It as Africa’s New Digital Payments Backbone

 

African business leader and philanthropist Tony O. Elumelu has announced the launch of RedPay, a new unified payments platform developed by Redtech, the technology arm of Heirs Holdings.

Describing it as a major milestone for Africa’s digital economy, Elumelu said the platform is designed to provide the robust financial infrastructure needed to power entrepreneurship and business growth across the continent.

RedPay, he noted, will serve as a seamless digital payments engine offering faster, safer and smarter transactions, complete with centralised reporting, intelligent analytics, and real-time visibility for merchants and enterprises of all sizes.

A Digital Infrastructure Gap That Must Be Filled

Elumelu argued that Africa’s progress depends on strong financial infrastructure that enables both small businesses and large corporations to operate efficiently.

He pointed to the role played by institutions within the Heirs Holdings ecosystem — from UBA Group’s global banking network to Heirs Insurance Group’s everyday coverage solutions — but emphasised that payments infrastructure remains the “fundamental” missing link.

“You cannot build business on a foundation of fragmented systems and unreliable payment solutions,” he said, stressing that RedPay was created to solve exactly this challenge.

From Empowerment to Infrastructure: Closing the Gap

Through the Tony Elumelu Foundation (TEF), Elumelu has funded, mentored, and supported more than 24,000 African entrepreneurs. But he noted that empowerment alone is not enough without the underlying infrastructure that allows businesses to operate competitively.

“Empowerment is incomplete without infrastructure,” he said. “From the smallest merchant to the largest enterprise, we are building the digital backbone that turns entrepreneurial ambition into sustainable growth.”

Celebrating African Innovation

Elumelu congratulated Emmanuel Ojo and the Redtech team for what he described as a demonstration of African innovation at its best. He said RedPay aligns with the philosophy of Africapitalism, which champions profitable, sustainable businesses that drive broad-based prosperity.

“At Vivatech in Paris in 2023, we discussed Tech 4 Good. I wanted Tech 4 All,” he added. “RedPay is that — African-designed, for African realities, for all.”

A New Ecosystem for African Enterprise

Positioning RedPay as more than just a product launch, Elumelu said it represents part of a wider continental ecosystem under construction — one in which African entrepreneurs have access to capital, digital tools, and reliable infrastructure to scale.

“We seed entrepreneurs. We build infrastructure. We create the ecosystem where Africa’s enterprises can flourish,” he said.