The Entrepreneur – Mitchell Elegbe

Mitchel ElegbeSome people believe that success in life has to do with luck while others believe in hard work and preparation, as a popular speaker once said preparation meets opportunity, this is both preparing your mind and building capacity to take up any opportunity you encounter in life.

The story of Mitchell Elegbe the GMD of Interswitch Group is one to be highly admired and also to learn from, if your desire and plan is to be very successful. This is a man who has shown tenacity and the drive to succeed in a very difficult and competitive market like Nigeria where majority of the people are living below the poverty line.

As a graduate of Electrical Engineering from the University of Benin, Nigeria. Elegbe started his career with Computer Systems Associates (CSA), Lagos and part of a team that implemented the software solutions that enable Nigerian Banks connect to the Society for Worldwide Interbank Financial Telecommunication (SWIFT). He later joined TELNET in 1997,moved to Schlumberger Wire line & Testing (Scotland) as a Field Engineer, he rejoined TELNET after returning to Nigeria as Head, Group Marketing and Business Solutions. Click Here.

He conceived Interswitch Nigeria 2002 at the age of 29, a nationwide switching company of world class standard, that company is what is today’s leader in the electronic payment, service industry and one of the largest card brands issued in Nigeria popularly known as VERVE which has expanded its reach far beyond Nigeria and partnered with major payment processors around the globe.

In 2010 Interswitch sold 52% of its share as for $92million to Helios Investment Partners, an African-focused private equity firm, according to BloombergBusiness Helios is planning to sell its shares to a buyout firm who is working with Citigroup at a deal valued over $1Billion dollars Click Here, this deal is massive if it scales through, this will see Interswitch become the biggest payment company in Nigeria if not West Africa and also afford them the opportunity to reach more countries in Africa and consolidate their position as the preferred payment processor and Indigenous African card company.

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