FT »
Nigeria, with about 220mn people, is the continent’s most populous country and its biggest economy. So, when two Chinese-backed fintech companies hatched ambitions to build African versions of Chinese mobile payment giants Alipay or WeChat Pay, they decided to start in Lagos.
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However, the position that Huawei holds in basic telecoms infrastructure, coupled with the popularity of PalmPay and OPay super apps, has raised concerns among some Nigerian officials over potential future Chinese dominance in digital infrastructure and data.