Nigerian businesswoman Kofo Akinkugbe's SecureID opens East Africa's first smart card factory, commits $20 million to expansion

Kofo Akinkugbe, founder and executive chairlady of SecureID Kenya, has officially commissioned East Africa's first smart card manufacturing facility in Nairobi, marking a landmark moment for the region's technology and financial infrastructure.

The plant, described as the first and only card embedding technology factory in East Africa, will produce and personalize banking cards, telecom SIM cards and government identity documents locally. The launch ends years of dependence on overseas suppliers for products that Akinkugbe says have drained billions from the continent.

"Africa spends billions printing cards, passports and ID documents that it could make itself," Akinkugbe said at the commissioning ceremony in Nairobi. "Those billions leave the continent, taking jobs, skills and self-respect with them."

Akinkugbe said the investment reflects confidence in Kenya and Africa's capacity to build its own solutions. "This facility is a commitment to East Africa, a commitment to local capacity, and a commitment to building solutions in Africa, for Africa, and for the world," she said.

SecureID plans to invest $20 million in phases, with the first round already underway. The company expects to hire around 150 workers within two years, with that number projected to rise to 400 as operations expand.

Akinkugbe said her decision to invest in Kenya dates back to a 2018 visit. "At the time, I wasn't looking to invest. But Kenya had other plans. The environment was right, the opportunity was real," she said. She described Nairobi as one of Africa's most dynamic innovation hubs, citing the country's "vision, resilience and leadership in digital transformation."

Beyond job creation, the factory is set to deliver practical gains for banks, telecom operators and government agencies. Instead of waiting weeks for cards produced abroad, institutions will now receive personalized products within days. SecureID said the plant will offer faster turnaround times, lower logistics costs, stronger data protection and global quality standards, all of which are expected to advance financial inclusion across the country.

Chief guest Habil Olaka, chairman of the Financial Inclusion Fund Advisory Board, said the factory directly supports Kenya's financial inclusion agenda. "Access is no longer just about opening accounts. It is about enabling people to identify themselves, access services and transact securely," he said.

Olaka added that local production will also protect Kenya from supply chain disruptions caused by global conflicts or shipping delays, and further cements the country's position as a digital and financial gateway for the region within the East African Community, COMESA and the African Continental Free Trade Area.

The opening ceremony brought together business leaders, government officials, diplomats and industry players. Guests toured the high-security plant before an official ribbon-cutting.