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PalmPay Named Among Top 250 Fintech Companies in the World by CNBC and Statista

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Africa-focused fintech platform, PalmPay, has been included in the 2024 edition of CNBC and Statista’s prestigious list of the “Top 250 Fintech Companies in the World.” This recognition underscores PalmPay’s rapid growth and significant contributions to advancing financial inclusion.

The CNBC/Statista list honours fintech pioneers significantly transforming the financial services industry through technology. More than 2000 companies were evaluated globally based on general and sector-specific KPIs to determine the final selection.

In 2024, some of the most influential fintechs in the world were included in the list, including Alipay, Nubank, Monzo, and Revolut. Six other African firms made the list: Flutterwave (Nigeria/US) – Payments; Kuda (Nigeria/UK) – Neobanking; MTN (South Africa) – Payments; Piggyvest (Nigeria) – Financial planning; and Yoco (South Africa) – Payments.

PalmPay has developed an integrated platform that caters to consumers and businesses in the African market. The startup, which has been operating since 2019, pioneered a unique model in Nigeria that provides financial services such as money transfers, bill payment, credit services and savings via a one-stop-shop fintech ‘superapp’ and mobile money agents.

This dual approach of easy-to-use digital banking, combined with offline touchpoints for those without smartphones, has contributed to driving financial inclusion in a market where more than 40% of adults remain unbanked.

In 2023, PalmPay announced a major milestone of reaching 30 million registered users on its smartphone apps and 1.1 million businesses in its network of mobile money agents and retail merchants. A third of PalmPay customers report that the platform was their first-ever financial account.

PalmPay has quickly grown to become a market leader in Nigeria thanks to its user-friendly interface, reliable transactions, and focus on driving market share through fee-free transfers and promotions. PalmPay processes 15 million transactions on its consumer app daily and maintains a 99.5% transaction success rate.

To achieve this scale in a market where 10% transaction failure rates were common, the company built out its payment infrastructure, channel integrations and transaction routing systems. In addition to its consumer wallet, PalmPay offers services to businesses that leverage the PalmPay platform via its suite of POS machines, APIs and checkout solutions.

“It’s an honour for PalmPay to be recognised by CNBC and Statista as one of the World’s Top Fintech Companies,” said Sofia Zab, Global CMO, “This recognition validates our unique approach to financial services and our commitment to driving financial inclusion. We are actively expanding PalmPay’s reach and offerings, ensuring more people have access to essential financial services and promoting economic development in emerging markets”

PalmPay operates in several key markets across Africa, including Nigeria, Ghana and Tanzania, with plans to expand further in the region and other emerging markets. The company has global HQs in China and London.


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PalmPay Opens New Customer Experience Center to Strengthen Customer Support

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L-R: Doyin David, Big Brother Nigeria (BBN) Alumni; Chinedu Efueme, Assistant General Manager, Zenith Bank; Chika Nwosu, Managing Director, PalmPay; Chinyere Muda- Sanusi, Vice President, First City Monument Bank (FCMB); at the recent launch of the PalmPay Experience Center.
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PalmPay, a leading fintech platform in Nigeria, has launched its experience center in Lagos, further expanding its commitment to customer engagement and support.

The grand launch event, held at the newly inaugurated office, featured a guided tour of the facility along with goodwill messages from partners and customers.

Located in Opebi, Ikeja, the new PalmPay office will provide a dedicated space for real-time customer assistance. The center will serve as a hub for seamless issue resolution, product education, and swift customer service.

Customers can already access PalmPay’s customer service through multiple support channels including live chat within the app, phone calls, social media and email. With the introduction of the experience center, PalmPay is taking customer service a step further by offering users a physical touchpoint where they can receive personalized support.

This milestone marks a significant step in PalmPay’s expansion strategy in Nigeria, with plans to launch additional customer experience centers in key states across the country, bringing PalmPay even closer to its users nationwide.

“At PalmPay, our customers are at the core of everything we do,” said Chika Nwosu, Managing Director at PalmPay. “The launch of our experience center reflects our commitment to deliver more support, more convenience, and more innovation to our customers. This office will ensure that every user has access to personalised support and a deeper understanding of our platform’s offerings.”

PalmPay was recently ranked among the top three fintech brands in customer experience, earning a score of 81.6 in KPMG’s 2024 West Africa Banking Industry Customer Experience Survey. This recognition further reinforces PalmPay’s position as a leader in the fintech industry.

PalmPay remains committed to fostering financial inclusion by ensuring its users enjoy secure, fast, and convenient financial services. The launch of the office is a step towards strengthening customer relationships and driving digital adoption across Nigeria.


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Huawei Trains 70,000 Nigerians in ICT Development

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Huawei has provided capacity building and information and communication technology (ICT) training to 70,000 people in the past five years, according to Eric Chen, Huawei’s Strategy director in Nigeria.

Huawei Trains 70,000 Nigerians in ICT Development

This announcement was made during a women-focused programme hosted by Huawei in Abuja, ahead of International Women’s Day (IWD) celebrations.

The event, themed “Cultivating Talent Through ICT Training for a Prosperous Nigeria,” coincides with the 2025 IWD theme, “Accelerate Action,” which focuses on fostering progress toward gender equity.

Chen highlighted Huawei’s contributions to the government-led Three Million Technical Talent (3MTT) programme, facilitated through its ICT Academy, and reiterated the company’s dedication to advancing Nigeria’s digital economy in alignment with the President’s renewed hope agenda.

“We celebrate the achievements of female participants in our ICT Academy and Women in Tech initiative, in collaboration with the First Lady’s office,” Chen stated.

“We must remain committed to empowering women in ICT and leveraging their potential to boost Nigeria’s digital growth.”

Comfort Kabirwa, director of Policy, Research, and Strategy at the Ministry of Communication, Innovation and Digital Economy, stressed the importance of gender equality in technology, identifying it as both a moral obligation and a strategic imperative.

She encouraged women to actively participate in ICT to accelerate the nation’s digital economy.

Kabirwa noted that, globally, women constitute only 26% of the tech workforce—a figure that underscores the need for greater inclusion.

She urged stakeholders to dismantle barriers hindering women’s participation in the field, including limited access to education, mentorship, and equitable recruitment practices.

The programme also showcased success stories like that of Victoria Essoe, a cybersecurity student at Igbinedion University, who shared how Huawei’s ICT Academy significantly impacted her career by providing valuable certifications at no cost.

Similarly, Dr. Oyin Abiola, Huawei’s Senior Public Relations Manager, highlighted the company’s efforts in not only offering ICT training but also creating practical opportunities for exceptional students to gain experience through employment and internships.

By celebrating women who excel in ICT, Huawei aims to inspire others to explore opportunities in the field and remains steadfast in its commitment to fostering an inclusive and diverse digital society.

 

 

 

 

 

 

 

 


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Fidelity Bank Launches Creativerse to Empower Creative Sector

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Dr. Nneka Onyeali-Ikpe, managing director/chief executive officer, Fidelity Bank,
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Fidelity Bank Plc has emphasized its commitment to the development of Nigeria’s creative economy with the launch of the Creativerse.

Fidelity Bank Launches Creativerse to Empower Creative Sector

Dr. Nneka Onyeali-Ikpe, managing director/chief executive officer, Fidelity Bank,

Located in a dedicated wing at the recently unveiled Fidelity SME Hub in Gbagada Phase 2, Lagos, the Creativerse boasts of fully equipped music recording, podcast, content production and photography studios as well as co-working spaces designed to foster innovation, collaboration and capacity development amongst operators in the Creative industry.

Dr. Nneka Onyeali-Ikpe, managing director/chief executive officer, Fidelity Bank, while speaking during a tour with a select group of dignitaries and creative entrepreneurs of the facility recently, said, “We thought it is very important to have touchpoints for people who don’t have the capacity to do what they dream about. That is what this hub is about.

“We believe that everybody has a God-given skill- all we want you to do is to develop it and we are here to support you. And once you have developed the skill into a bankable transaction, you can rest assured that Fidelity will be there to help you take it to the next level.

“This is an incubator, we expect you to incubate your skills. The people on the finance side will help you with your accounting and all of that. And then it becomes bankable and you will become the next Burna Boy, the next Davido, the next Wizkid, Tems or Flavour,” she said.

The Fidelity SME Hub is a comprehensive resource center offering training programs, capacity-building workshops, business mentorship, industry networking opportunities, and business advisory services to small business owners.

Explaining the vision of the Creativerse and what the bank wants to achieve with the facility, Onyeali-Ikpe said, “We want the next Dangote to come out of here, the next BUA, the next Nestoil.

“We want you to grow and the most we can do is to support you. And most of this is pro bono. We want a situation that you can come and you are not scared of anything. Fidelity will take care of it,” she added.

On his part Comrade Ayodele Olawande, minister of Youth Development, lauded the bank saying, “I want to see a bank that truly supports young people, and Fidelity Bank is doing just that. This initiative reflects a commitment to equipping Nigerian youth with the skills, resources, and opportunities needed to turn their business ambitions into profitable ventures”.

Similarly, Babajide Sanwo-Olu, Lagos State Governor, who was represented by Barr. ‘Bimbola Salu-Hundeyin, secretary to the State Government (SSG), lauded the initiative as a game-changer for Lagos’ entrepreneurial ecosystem, noting that “SMEs contribute about 84 per cent to Nigeria’s Gross Domestic Product (GDP), and in Lagos, our dynamic business environment thrives on initiatives like this.

“This hub is a world-class package that moves businesses from survival to sustainability and from growth to greatness,” he said.

The Creativerse currently hosts a range of masterclasses, trainings and networking events; and can be accessed at www.fidelitybank.ng/smehub.

 


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