Redtech, a technology company backed by Nigerian billionaire Tony Elumelu’s family office, Heirs Holdings, has processed a staggering $20.6 billion (approximately 30 trillion naira) in transactions during its 2025 financial year.
This represents a significant increase from the 12 trillion naira processed in 2024, highlighting the growing adoption of digital payments in Nigeria.
The company’s payment platform, RedPay, has been driving this growth, with increased usage across point of sale terminals, merchant collections, and digital channels.
Redtech’s focus on building resilient payment infrastructure and steady product development has enabled it to support high-volume operations for leading institutions across various industries, including retail, hospitality, insurance, energy, and banking.
Redtech’s Chief Executive, Emmanuel Ojo, attributes the company’s success to its emphasis on durability, governance, and regulatory alignment, making it a reliable partner for merchants and regulated clients.
The company plans to expand its services beyond Nigeria into 29 African countries by January 2027, supporting cross-border payments for firms operating across multiple markets.
Redtech’s growth is a testament to the increasing adoption of digital payments in Nigeria, driven by investments in payment infrastructure and the rise of fintech firms.
The company’s RedPay platform offers a range of services, including merchant payment solutions, payment cards, e-commerce gateways, mobile apps, virtual account services, and value-added services.
