During the 2025 Moonshot event hosted by TechCabal, Emmanuel Sohe, the CEO of Cardtonic, delivered a compelling account that embodied the spirit of resilience thriving within Africa’s fintech landscape. His message transcended abstract concepts, focusing instead on perseverance, faith, and the relentless pursuit of growth despite formidable challenges.
Sohe opened by emphasizing, “Our journey is fundamentally about endurance and navigating through adversity,” setting a reflective tone that highlighted Cardtonic’s real-world struggles and triumphs.
Back in 2021, the Central Bank of Nigeria issued a directive prohibiting banks and financial institutions from engaging with crypto-related entities, sending shockwaves through the fintech sector. For Cardtonic, which operates within the crypto space, this regulatory shift posed an existential threat. “That evening, five members of our leadership team gathered in a conference room, deeply assessing the implications for our future and livelihoods,” Sohe recounted.
Prior to this upheaval, Sohe had left a secure position to dedicate himself fully to the startup. Amid the uncertainty, a lighthearted comment surfaced about returning to school since some team members hadn’t completed their education. Yet, after the momentary levity, they resolved to keep their vision alive and refused to abandon their ambitions.
While users expressed anxiety, the Cardtonic team manually processed transactions that night, determined to keep their crypto services operational. Today, Sohe proudly notes, their platform enables crypto spending seamlessly in both Nigeria and Ghana, a testament to their unwavering commitment.
Reflecting on the early, turbulent days of managing a business-to-consumer (B2C) fintech, Sohe remarked, “I often tell my peers in B2B fintech that we’re the fortunate ones; B2C is where the real hustle happens. There were moments when handling payments and collections felt like constant crisis management.”
Despite these obstacles, Cardtonic expanded its operations starting with just ₦5 million and without any external investment. Their success was driven by two core principles: treating revenue as the engine of growth and maintaining strict operational discipline. “Our goal was to survive independently of outside funding,” Sohe stressed.
Years on, Cardtonic’s presence on the Moonshot stage stands as a powerful example of how determination, steady effort, and focus can overcome even the harshest challenges. “We never abandoned our dreams,” Sohe reflected with pride. “Back then, we couldn’t afford flashy innovations, but today, we headline Moonshot with confidence.”
For many attendees, this narrative was more than a business case study; it was a vivid illustration that Africa’s most enduring fintech solutions are forged not only through innovation but through courage, steadfast belief, and an unyielding vision.