How technology is reshaping export ecosystem in Africa —Lucky Oyanna

In a wide-ranging exclusive interview, the Swetche Systems founder and UN Peace Volunteers Fellow, Lucky Oyanna, is the Founder of Swetche Systems Limited, a fully regulated cross-border payments and treasury solutions company revolutionising how money moves across borders. In this interview with SEGUN ADEBAYO, he reveals the structures that will define the next generation of globally competitive African trade.

You recently spoke at the LCCI Export Programme. What was the central message you delivered to exporters and entrepreneurs?

At the Lagos Chamber of Commerce and Industry Export Programme, my central message was tied to a single principle: the future of global trade depends on the fungibility of money. Exporters must begin to think beyond traditional financial silos and embrace a system where value moves seamlessly across fiat currencies, digital assets, and alternative payment mechanisms. In practical terms, inefficiencies in cross-border payments are no longer minor inconveniences. Rather, they are structural barriers to scale. The exporter who can transact in the preferred currency or asset format of their international buyer will always have a competitive advantage. What we are building is an infrastructure that removes friction from that process, enabling faster settlement, broader market access, and ultimately, more competitive positioning for African exporters.

How do you assess Africa’s readiness for digital and global trade integration?

Africa is far more prepared than it is often given credit for. The continent has, in many respects, leapfrogged traditional financial systems through rapid adoption of digital payments and mobile money. This creates a strong foundation for participation in global trade.

The real opportunity lies in the convergence of e-commerce and financial infrastructure. Exporters today can access international demand through digital marketplaces while leveraging structured financial tools such as invoice discounting and trade credit to support scale. This combination fundamentally changes the economics of exporting. It allows businesses to operate globally without being constrained by local capital limitations.

From your experience, what are the most critical mistakes Nigerian exporters make?

There are three recurring issues that significantly limit success. First, exporters often attempt to manage logistics independently, primarily to reduce costs. However, this introduces unnecessary risk, particularly in documentation, compliance, and regulatory navigation. Logistics is a specialised function and should be treated as such.

Second, there is insufficient attention to regulatory requirements. Exporting into international markets requires a clear understanding of standards, certifications, and compliance frameworks. Failure in this area often results in rejected shipments and financial losses.

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Third, and perhaps most critical, is the over-reliance on personal capital. Exporters frequently fund transactions entirely from their own resources, which restricts scale. A more sophisticated approach involves leveraging trade finance instruments to expand capacity without exhausting internal liquidity. Exporting must be approached as a structured financial operation, not merely a transactional activity.

How is technology reshaping the export ecosystem in Africa today?

Technology is fundamentally altering both access and execution. Africa’s payment infrastructure, in certain respects, is more agile than that of more developed markets, which presents a distinct competitive advantage. Additionally, the rise of e-commerce has introduced a model of aggregated or fragmented exports, where smaller producers can collectively access global markets. This reduces entry barriers and enables broader participation in international trade. Looking ahead, the integration of digital payments, logistics platforms, and data-driven decision-making tools will define competitiveness. In this environment, success is less about scale and more about access to the right infrastructure.

What mindset shift is required for entrepreneurs seeking global competitiveness?

The defining mindset is relentless execution combined with global awareness. Building a globally competitive business from Africa requires resilience, adaptability, and a long-term perspective. However, beyond resilience, entrepreneurs must actively seek exposure to different markets. Understanding how pricing, demand, and distribution operate across regions provides critical insight that cannot be obtained locally. Equally important is the ability to build and empower high-performing teams. Sustainable growth is rarely achieved in isolation, it is the result of structured collaboration and complementary expertise.

Was there a defining moment that shaped your approach to international trade?

Yes, a significant financial loss in a cross-border transaction served as a turning point in my career. It exposed the vulnerabilities inherent in international trade, particularly around trust and execution. That experience fundamentally changed my approach. I moved from a transactional mindset to a systems-based approach, focusing on building regulated, multi-jurisdictional structures that ensure transparency, accountability, and reliability. It reinforced the importance of control, compliance, and infrastructure in global business.

What opportunities should African entrepreneurs prioritise in the coming years?

The most significant opportunities lie at the intersection of cross-border payments, digital marketplaces, and embedded trade finance. Entrepreneurs should focus on integrating into systems that enable seamless value exchange while providing access to liquidity. The future will favour businesses that understand how to combine market access with financial infrastructure, as this is where scalability and long-term value creation reside.

You have also been recognised for your work in peace advocacy. How does this intersect with your business activities?

The relationship between peace and economic development is direct and measurable. The recognition from the International Association of World Peace Advocates and alignment with the United Nations Peace Volunteers underscores the importance of stability in attracting investment and enabling trade. Capital flows into environments that are predictable and secure. Beyond perception, there is also the need for tangible, grassroots initiatives that promote stability within communities. Sustainable trade ecosystems cannot exist without a foundation of peace, and this is an area where business leaders have a responsibility to contribute meaningfully.

What is your long-term vision for African trade and global positioning?

My vision is to build infrastructure that democratises access to global markets. I want to see a system where even the smallest producer can participate in international trade, receive fair value for their goods, and access the liquidity required to scale. This involves integrating payments, financing, and market access into a unified ecosystem. Ultimately, the goal is to reposition Africa from a peripheral participant to a central player in global commerce.

You have worked intimately with exporters at various stages, from the conceptual to the transactional. Based on that experience, what are the three most critical mistakes you see Nigerian exporters making when they try to enter global markets, and what should they actually do differently?

This question gets to the heart of why so many export attempts fail in Nigeria. Let me be precise because I have seen all three of these play out firsthand. The first mistake is attempting to self-manage logistics while simultaneously managing the commercial transaction. Exporters try to cut costs by bypassing professional freight forwarders and handling shipping themselves. On the surface, it looks like savings. In reality, they are taking on regulatory risk, documentation risk, and relationship risk simultaneously, all things that require specialised knowledge to navigate. International shipping involves HS codes, export documentation, and in many cases, specific testing requirements mandated by the destination country’s regulatory agencies. Some of these testing bodies have local representatives in Nigeria. Yet exporters will ship products without completing the required certifications, and the goods get returned at the destination port. The cost of a returned shipment, insurance, freight, storage, is almost always more than what they would have paid a competent freight forwarder. Expertise is not an overhead. It is insurance.

The second mistake is financing the entire export transaction with personal cash. This is where the 80-20 rule is being violated catastrophically. There is no reason a Nigerian exporter should be funding a full container from their own pocket when trade finance exists. The structure I describe to exporters is simple. If you have the cash to fund a single consignment, you can use trade finance to potentially ship four times that volume for a fraction of what you would spend funding it outright. Invoice discounting, pre-shipment finance, and post-shipment credit, these instruments exist. But the majority of Nigerian exporters have never accessed them, either because they do not know they exist or because they believe they will not qualify. We are working to close that void through our lending licence and through education.

The third mistake is insufficient research on compliance and market entry requirements. When you are exporting to Europe, you are not just exporting to a buyer. You are exporting into a regulatory environment. The EU has specific phytosanitary standards for agricultural products, for example. Certain markets require certificates of origin, fumigation certificates, and lab analysis reports. These requirements vary by product and destination. An exporter who ships without this knowledge loses the shipment, loses the relationship, and in some cases loses the customer permanently. The market does not give you a second chance for regulatory failures. It simply moves on to a supplier who is compliant.