PalmPay, a pan-African fintech operating in three countries, has appointed Femi Hanson as the Head of Marketing and Public Relations for its Nigerian subsidiary. Hanson, a seasoned fintech marketer with five years of experience, previously led marketing efforts for OPay and Moni.
In his new role, Hanson will focus on strengthening PalmPay’s brand presence and growing its user base in Nigeria, the company’s largest market. PalmPay currently boasts 35 million users and has onboarded 1.2 million businesses in the country.
“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,” said Sofia Zab, PalmPay’s Global Chief Marketing Officer.
PalmPay’s Growth in Nigeria
PalmPay entered the Nigerian market in 2019 with backing from a $40 million seed round led by Tecno, a subsidiary of Transsion Holdings. This partnership enabled PalmPay to pre-install its app on millions of smartphones sold by Tecno, Infinix, and Itel, boosting its accessibility.
The fintech rapidly gained popularity through strategic offerings such as:
- Discounted Transfers: Reduced fees for bank transfers and free transfers between PalmPay wallets.
- Digital Lending Services: Loans with interest rates ranging from 15–30%.
PalmPay’s prominence surged during Nigeria’s 2023 currency redesign policy, when traditional banks struggled to handle a spike in online transactions, positioning fintech solutions like PalmPay as vital alternatives.
Recognition and Industry Standing
In 2023, PalmPay was recognized as one of the top seven African fintechs featured in CNBC’s Top 250 Fintech Companies list. This unranked list highlighted businesses based on criteria such as revenue, sales growth, and total headcount. PalmPay edged out competitors like OPay and Moniepoint, cementing its position as a leading fintech in Africa.
Hanson’s Vision for PalmPay in Nigeria
“Joining PalmPay at this stage of its incredible journey is a tremendous honour,” Hanson stated. “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.”
With Hanson at the helm of marketing and public relations, PalmPay aims to further accelerate its growth in Nigeria, enhancing financial inclusion and providing innovative solutions for its expanding user base.