Founded in 2021 and headquartered in Lekki, the company said its continued growth within a challenging operating environment underscores its focus on discipline and long-term sustainability. It cited persistent macroeconomic pressures—including foreign exchange volatility, energy constraints, and shifting regulatory conditions—as key hurdles it has navigated over the years.
CardForté disclosed that it has produced more than 27 million cards for over 150 clients, spanning fintech firms and first-time issuers. Through these collaborations, the company estimates it has indirectly supported financial access for more than 20 million Nigerians, particularly among underserved populations.
Co-founder and Director, Tunde Aka-Bashorun, described the company’s journey as both demanding and instructive, emphasising the importance of persistence in building a viable enterprise in Nigeria’s business climate.
He noted that while the company’s contributions may be modest, its progress reflects a consistent ability to adapt and push forward despite systemic challenges, stressing that resilience and patience remain essential for success in the local market.
CardForté also highlighted its commitment to local capacity development, stating that its workforce is entirely Nigerian. The company added that its Graduate Trainee Programme has played a key role in nurturing talent, with several participants advancing into strategic positions within the organisation.
Beyond its core payments business, the firm said it has expanded its solutions into sectors such as healthcare, retail, and hospitality, helping organisations improve operational efficiency and customer experience. In healthcare, it is exploring innovations including QR-enabled medical cards aimed at enhancing patient data management and informing policy planning.
Despite its progress, the company acknowledged ongoing operational challenges, including high production costs, foreign exchange pressures, energy demands, and limited access to affordable financing—issues it said reflect broader constraints within Nigeria’s manufacturing sector.
Looking ahead, CardForté revealed that it is close to completing a new production facility in Lagos to increase capacity, while its research and development unit is advancing new products, including eco-friendly cards and more sophisticated technology-driven solutions.
The firm reiterated the need for supportive policies, improved infrastructure, and better access to financing to unlock the full potential of Nigeria’s manufacturing and innovation sectors. It also encouraged entrepreneurs to focus on building practical, market-driven solutions.
As it marks its fifth anniversary, CardForté said the milestone represents not only its own growth but also the wider opportunities for building sustainable and impactful businesses in Nigeria despite prevailing economic challenges.