Femi Hanson, a former Opay employee, has been appointed as the new head of marketing and public relations for Palmpay‘s Nigerian affiliate. Palmpay is a pan-African fintech company that operates in three nations, with Nigeria being its largest market.
With five years of fintech marketing experience, Hanson previously oversaw the marketing departments of two Nigerian fintechs, OPay and Moni.
In his new role, he will drive PalmPay’s growth in Nigeria, where the company claims to have 35 million users and has onboarded 1.2 million businesses.
Read also: Opay, others to charge N50 levy on electronic money transfers in Nigeria
Sofia Zab, PalmPay’s global chief marketing officer said, “His deep understanding of the local market and proven track record of driving impactful campaigns will help us strengthen our connection to customers and accelerate our mission of advancing financial inclusion.”
About PalmPay
In 2019, Palmpay made its debut in Nigeria with the support of Tecno’s $40 million seed round.
As part of the investment, Tecno’s parent company, Transsion Holdings, pre-installed Palmpay’s software on millions of smartphones from Tecno, Infinix, and Itel.
The partnership also offered users free transfers to Palmpay wallets and reduced payment fees to banks.
With interest rates between 15 and 30 percent, Palmpay’s digital lending business contributed to its quick rise in popularity in Nigeria.
PalmPay was also one of the main beneficiaries of Nigeria’s controversial currency redesign policy in 2023. As traditional banks struggled to manage the surge in online transactions, fintech companies like OPay and PalmPay saw significant growth.
Read also: CBN lifts Opay, Moniepoint, others account ban following compliance efforts
PalmPay surpassed rivals like OPay and Moniepoint, earning a spot among seven African fintech startups ranked in CNBC’s Top 250 fintech companies.
The ranking was compiled based on research by Statista, which considered factors such as year-over-year sales growth, total headcount, and 2023 revenues.
“Joining PalmPay at this stage of its incredible journey is a tremendous honour. I am excited to build on the company’s strong foundation and contribute to its mission of delivering seamless financial solutions to millions of Nigerian consumers and businesses,” Hanson said.
