PalmPay, a leading pan-African fintech platform, has announced the appointment of Femi Hanson as its new Marketing and Public Relations Head for Nigeria.
Hanson, a seasoned marketing expert with a strong track record in the Nigerian fintech industry, previously held leadership roles at OPay and Moni.
In his new role, Hanson will be instrumental in propelling PalmPay’s growth in Nigeria, the company’s largest market. With a user base of over 35 million and a network of 1.2 million businesses, PalmPay is well-positioned to further expand its reach and impact in the country.
“Femi’s deep understanding of the Nigerian market and his proven ability to execute successful marketing campaigns will be invaluable as we strive to advance financial inclusion and empower individuals and businesses,” said Sofia Zab, PalmPay’s Global Chief Marketing Officer.
PalmPay made its Nigerian debut in 2019, backed by a substantial $40 million seed round from Tecno. This strategic investment, coupled with a partnership with Transsion Holdings, the parent company of renowned smartphone brands Tecno, Infinix, and Itel, propelled PalmPay’s rapid growth.
By pre-installing its app on millions of devices, PalmPay gained significant traction and attracted a substantial user base. The fintech’s aggressive marketing strategy, including discounted bank transfers and free peer-to-peer transactions, further cemented its position in the market.
Additionally, PalmPay’s digital lending business, offering interest rates ranging from 15% to 30%, contributed to its popularity, particularly among young Nigerians seeking affordable credit solutions.
The 2023 Nigerian currency redesign policy inadvertently boosted the fortunes of fintech companies like PalmPay. As traditional banks struggled to cope with the surge in digital transactions, fintechs emerged as reliable alternatives, attracting a significant influx of users. PalmPay capitalized on this opportunity, solidifying its status as a major player in the Nigerian fintech landscape.
PalmPay was listed as one of the seven African fintech companies in the CNBC top 250 fintech companies, edging out competitors like OPay and Moniepoint. The unranked list was curated based on desk research by the Statista team and information provided by the businesses, such as 2023 revenues, year-on-year sales growth rate, and total headcount.
“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.
Related articles
- Zenith Bank launches Zecathon 4.0, offering startups over ₦70 Million in prizes
- Union Bank implements a 40% salary increase for its employees to mitigate the impact of rising living costs
- How To Apply For a Business Grant In 2025 | A Comprehensive Guide
Blessed is a dedicated grants and business funding researcher with a keen eye for uncovering opportunities. With a background in digital marketing and social media management, she brings a unique perspective to her work. Blessed is passionate about helping individuals and businesses secure the funding they need to achieve their goals. Her expertise and dedication make her a valuable resource for anyone seeking financial support.