Palmpay, a pan-African fintech present in three countries, has appointed Femi Hanson as the new marketing and public relations head for its Nigerian subsidiary. Hanson, who previously led the marketing teams of OPay and Moni, two Nigerian fintechs, brings five years of fintech marketing experience to the role.

Hanson will lead Palmpay's efforts to grow its business in Nigeria, its biggest market. The fintech claims it has 35 million users and onboarded 1.2 million businesses. According to Sofia Zab, PalmPay's global chief marketing officer, Hanson's "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."

Palmpay entered Nigeria in 2019, backed by a $40 million seed round from Tecno. The investment came with a partnership with Transsion Holdings, the parent company of Tecno, Infinix, and Itel, which allowed it to pre-install its app on millions of phones sold by Africa's biggest smartphone seller. The fintech also offered discounted transfers to banks and free transfers to PalmPay wallets, contributing to its rapid popularity in Nigeria.

Palmpay's digital lending business, with interest rates ranging from 15-30%, also fueled its growth in Nigeria. The fintech was one of the biggest beneficiaries of Nigeria's controversial currency redesign policy, as OPay and PalmPay allowed Nigerians to access cash where traditional banks struggled with the surge in online transactions.

PalmPay was recently 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.

In a statement, Hanson expressed his excitement to join Palmpay, saying, "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."

The appointment of Hanson as marketing and PR head for Palmpay's Nigerian subsidiary marks a significant step in the fintech's efforts to expand its presence in the country. With Hanson's expertise and Palmpay's existing user base, the company is well-positioned to further accelerate its growth in Nigeria and advance its mission of financial inclusion.