13 female CEOs shaping the Nigerian credit ecosystem

It’s incredible to think how far we’ve come. At one time, society expected women to stay within the four walls of the kitchen, limiting their potential to domestic roles. 

Today, that old idea seems almost laughable, as women have moved from those confined spaces to the forefront of industries, especially in Nigeria’s growing credit ecosystem.

As of 2023, Nigeria boasts 217 active fintech startups, and among them are 44 companies led by tenacious and ambitious women.

What sets these female founders apart isn’t just that they’ve made it to the top—it’s how they’ve done it.

In this article, we’ll be shining the spotlight on 13 remarkable female CEOs who are making their mark in the Nigerian credit ecosystem, and providing Nigerians and Africans easy access to credit.

1. Yvonne Johnson, Co-founder of Indicina

Yvonne Johnson is the CEO and co-founder of Indicina, a lending-as-a-service startup using machine learning to help every current and potential African credit provider offer loans and bridge the credit gap in Africa.

Under her leadership, Indicina has raised significant funding, including a $3 million seed round in 2022, bringing its total funding to $7.5 million.

Her career began at Xenos Group Inc, where she served as a senior consultant for data management using tech. She earned recognition as an Outstanding Performer for closing new software deals totaling $1M. 

Yvonne went on to work as a Senior Analyst at PwC, then an Investment Banking Associate at Merrill Lynch. 

Afterwards, she worked for 8 years at First Bank of Nigeria, where she held various strategic roles, including Head of Strategy and Corporate Development. She restructured the bank’s operating model and led the development of a digital finance strategy.

Yvonne holds a BSc in Computer Science and Mathematics from the University of Toronto and an MBA from Northwestern University’s Kellogg School of Management, where she graduated with honors.

She’s recognized, not only for her leadership at Indicina, but also as an early-stage investor and advisor in various Pan-African technology startups, including notable companies like Andela and Flutterwave.

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2. Oluwatosin Olaseinde, Founder of Money Africa

Oluwatosin Olaseinde is the founder and CEO of Money Africa, a financial literacy and investment platform that’s making serious strides in helping people—especially Millennials and Gen Z—get smarter with their money.

Since 2018, she’s been on a mission to demystify finance and empower people to build wealth through informed financial decisions. 

She has a background in accounting from the University of Johannesburg and over a decade of experience working in finance.

Oluwatosin is a Washington Mandela Fellow and a finalist for The Future Awards in 2019.  She was also chosen as one of the top 100 women by The Leading Ladies Africa and was among the top 8 traders by CNBC Africa in 2012. 

Oluwatosin is a Golden Key International Honor Society member and has delivered a TEDx talk. She has been featured on BBC UK, Al Jazeera, CNN, Guardian, and other media outlets. Plus, she’s recognized as one of the Top 50 African Business Heroes.

What a track record!

It was during these years that she saw the huge gap in personal finance knowledge, especially in Africa, and realized something needed to change.

That’s where Money Africa comes in.

Oluwatosin focuses her laser eyes on one goal: giving 100 million Africans the tools they need to take control of their finances.  And she’s not just talking about it. Money Africa has already trained over 10,000 women in investing and financial planning, tackling the major gap in financial education among women in Nigeria. 

Money Africa earned Oluwatosin the NSIA Prize for Innovation, which came with a cool $100,000 to keep pushing her vision forward. As if that wasn’t enough, Oluwatosin also co-founded Ladda in 2021. 

Ladda is a fintech platform designed to help retail investors get access to curated investment opportunities, adding another layer to her goal of financial empowerment. 

3. Temitope Omotolani, Co-founder of CrowdyVest

Temitope Omotolani has carved out a remarkable space for herself in Nigeria’s fintech industry as the co-founder of CrowdyVest, a platform that’s changing how Nigerians approach savings and investments.

Launching CrowdyVest in 2019, Temitope’s goal was clear from the start: democratize access to investment opportunities and give everyday Nigerians the tools to grow their wealth. CrowdyVest offers different investment options for users to earn returns on their savings while supporting impactful initiatives.

Before CrowdyVest, Temitope held the role of Chief Operations Officer at Farmcrowdy, Nigeria’s first agricultural crowdfunding platform. 

At Farmcrowdy, she was a driving force behind operational strategies that helped scale the company and improve service offerings.  This experience gave her the confidence and expertise to co-found CrowdyVest and further her mission of financial inclusion.

Temitope’s educational background from Lagos Business School gave her the business acumen needed to lead a fintech startup in such a competitive landscape.

Recognized for her contributions to promoting financial inclusion, Temitope Omotolani stands as a shining example of the transformative role women are playing in Nigeria’s fintech ecosystem.

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4. Dayo Odulate-Ademola, Managing Director of Branch International

Dayo Odulate-Ademola is the MD of  Branch International in Nigeria, a prominent fintech company that focuses on providing accessible financial services through technology.

With over 15 years of experience in traditional banking, financial inclusion, and fintech, she has played a significant role in providing Africans easy access to credit.

Dayo holds an MBA from INSEAD and a Bachelor’s degree in International Business and Economics from Temple University.

Her career began at Rosetta Stone as a business analyst in 2007. Then, she served as a senior business analyst at Bi-Courtney Aviation Services Limited in 2009.    

After spending one year at MainOne in marketing strategy, she served as the Head of Innovation at Enhancing Financial Innovation & Access (EFInA) and held various leadership positions at Union Bank of Nigeria, where she was involved in corporate planning and retail segment strategies.

Dayo has been recognized for her contributions to the industry, including being named one of Nigeria’s top 50 CEOs by The Guardian Newspaper in 2023. She also received the “Best CEO of the Year” award and Branch earned “Digital Lending Company of the Year” at the Africa Bank 4.0 Summit.

5. Olayinka Alimi, Chief Operating Officer at Oxygen X

Olayinka Alimi is the COO at Oxygen X, a fintech lender within the Access Corporation (Access Bank Group) focused on providing accessible credit solutions to individuals and businesses in Nigeria. 

Under Olayinka’s leadership, Oxygen makes credit accessible 24/7. Before that, she was the co-founder of Blocka Cash, a digital lender with over 200,000 customers.

With a strong background in finance and banking, she is dedicated to providing everyday Nigerians with easy access to credit.

Olayinka holds a Bachelor’s degree in Accounting from the University of Lagos and is a Fellow of the Association of Chartered Certified Accountants (FCCA).

Before her role at Oxygen, she worked in various capacities within the banking sector, including as Team Lead in Corporate and Investment Banking at Access Bank Plc and as Unit Head for Upstream Oil & Gas at GTBank.

Olayinka is also involved in financial literacy initiatives, serving as an advocate under the CFA Society Nigeria’s Financial Literacy program. She mentors young female professionals through the Leading Ladies Africa Career Advancement and Mentorship Program, reflecting her commitment to empowering women in finance.

6. Taba Peterside, Founder of Waveline Growth Partners

Taba Peterside is the CEO and founder of Waveline Growth Partners, a microfinance institution focused on promoting financial inclusion and empowering small businesses in Nigeria.

With over 35 years of experience in banking, development finance, and microfinance, Peterside has made significant contributions to the financial services sector in Nigeria.

Peterside holds a Bachelor’s degree in Economics from the University of Kent and a Master’s degree in Development Economics from Dalhousie University.

Prior to founding Waveline, she held senior positions at The Nigerian Stock Exchange (now Nigerian Exchange Limited), Stanbic IBTC, Canada Deposit Insurance Corporation, and the International Finance Corporation.

Waveline Growth Partners aims to provide easily accessible loans to individuals and MSMEs, particularly focusing on female-owned and managed businesses, to promote financial inclusion and economic empowerment.

The company offers various lending products, including group loans, individual micro loans, salary loans, and SME loans, catering to a diverse range of customers.

In 2022, Peterside announced plans to expand Waveline’s reach through improved technology and partnerships, with the goal of becoming a household name in Nigeria’s financial services landscape.

She is a regular speaker on business, leadership, and women’s issues, and serves on the boards of several private sector and NGO organizations, including Ecobank Nigeria and CWG Plc. 

Peterside is also a Life Member of Women in Management, Business and Public Service (Wimbiz) and a Trustee and Vice Chairman of the Nigerian National Committee of the United World Colleges.

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7. Chioma Okotcha, Co-founder and Chief Operating Officer of PayHippo

Chioma Okotcha is the Co-founder and COO of PayHippo, a digital lending platform that focuses on providing fast and accessible loans to small and medium-sized enterprises (SMEs) in Nigeria. 

Founded in 2020, PayHippo addresses the gully in access to credit for SMEs, which often struggle to secure funding from traditional banks due to high collateral requirements and lengthy approval processes.

Chioma has a Master’s degree in Public Administration from Sciences Po, Paris, and a background in computer science.

Before co-founding PayHippo, she gained experience in finance, consulting, and public policy. She worked with organizations like KPMG, The Tony Elumelu Foundation, and the Tony Blair Institute for Global Change, where she focused on partnerships and development initiatives.

Since its birth, PayHippo has disbursed over 10,000 loans, totaling more than $16.5 million. 

The platform is designed to approve loans in under three hours, making it a vital resource for SMEs needing quick access to capital.

PayHippo uses an AI-driven approach to assess creditworthiness, so the lending process is more accurate. The company has maintained a high repayment rate of 97%.

Chioma is also passionate about facilitating the clean energy transition in Nigeria, with PayHippo financing clean energy projects and contributing to sustainable development.

Chioma Okotcha has been recognized as a rising leader in Africa’s fintech space, particularly for her contributions to improving financial access for SMEs. She is part of a select group of Nigerian women who have successfully raised over $5 million in early-stage funding for their startups, showing her impact in the tech ecosystem.

8. Yetunde Faulkner, Founder of Rex Africa

Yetunde Faulkner, CEO of Rex Africa, is an accomplished leader with over two decades of experience in retail and consumer banking. 

Her career has spanned various senior roles, from Director of Wealth Management to Zonal Manager, reflecting her deep understanding of customer needs and business development. 

She has held pivotal positions in product management, sales leadership, and segment management, consistently driving innovation and delivering impactful solutions.

At Rex Africa, the neobank she founded in 2021, Yetunde has applied her extensive knowledge from roles at Renmoney, UBA, Standard Chartered Bank, and Kindle Flame Limited to address financial accessibility challenges across Africa. 

Rex Africa offers a broad range of digital financial products, including savings accounts, loans, payments, and Buy Now Pay Later (BNPL) options. 

Her leadership has also fostered an agent network of over 17,000 to extend services to individuals with limited internet access, showing how committed she is to financial inclusion.

With academic credentials that include an MBA from the University of Chichester and a Bachelor’s degree in Economics from the University of Lagos, Yetunde’s expertise spans banking, financial risk, portfolio management, and business analysis. 

She continues to be a driving force in the African fintech landscape, championing innovation, accessibility, and growth for small businesses and individuals alike.

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9. Bolanle Oduyale, Founder of CreditWise

Bolanle Oduyale is the Founder and CEO of CreditWise Financials Limited, a Nigerian financial services company that is becoming a known brand in the micro and retail lending sector.

She has over three decades of experience in the financial services industry across multiple geographies, including Nigeria, South Africa, Botswana, and Canada.

Bolanle holds a BSc in Chemistry from the University of Ibadan, an MBA from the University of Lagos, and has attended programs at the Lagos Business School and London Business School. She is also a Fellow of the Chartered Institute of Bankers.

Before founding CreditWise, Bolanle worked at various institutions, including Standard Chartered Bank, where she rose to the position of Director, Financial Institutions, Africa.

She also served as the Managing Director/CEO of Safetrust Mortgage Bank, leading the bank through a comprehensive restructuring and recapitalization process.

Bolanle believes that access to quality credit and financial services is a right for everyone, especially women and small businesses. So, CreditWise focuses on providing sustainable lending solutions, particularly targeted towards poverty alleviation (lending to junior and mid-level salaried workers), women empowerment, and MSMEs.

The company also educates borrowers on financial literacy and responsible borrowing practices.

Bolanle is highly regarded for her mentorship of young professionals, especially women. She is a mentor for the WIMBoard (Women on Boards) program of WIMBIZ (Women in Business) and serves on the boards of various non-profit and business organizations focused on the economic empowerment of women, girls, and other underprivileged members of society.

She cares deeply about how businesses affect the environment and how they respond to the growing pressure to be more sustainable.

10. Mosunmola Fadahunsi, Founder of Lendvisery

Mosunmola Fadahunsi is the founder and CEO of Lendvisery, a fintech startup that provides advisory services to lenders and borrowers in Nigeria.

With over a decade of experience in the financial services industry, she has played a significant role in driving innovation and promoting financial inclusion in the country.

Mosunmola holds a Bachelor’s degree in Economics from the University of Lagos and a Master’s degree in International Business from the University of Hertfordshire, UK.

Prior to founding Lendvisery, Mosunmola worked in various capacities at leading financial institutions, including Stanbic IBTC Bank and Guaranty Trust Bank. She also served as the Head of Operations at Lidya, a digital lending platform.

Under her leadership, Lendvisery focuses on helping lenders develop risk management strategies and improve their lending processes, while assisting borrowers in accessing credit and managing their financial needs.

Lendvisery offers a range of services, including credit risk analysis, portfolio management, and financial advisory services. The company also provides training and capacity-building programs for lenders and borrowers to improve their financial literacy and decision-making skills.

Mosunmola is also a strong advocate for women’s participation in the fintech industry. She has mentored several young women entrepreneurs and professionals, sharing her knowledge and experiences to help them navigate the challenges of building a career in the sector.

As part of her commitment to promoting financial literacy, Mosunmola regularly participates in workshops, seminars, and conferences aimed at educating individuals and businesses about financial management and investment strategies.

11. Rukayat Kolawole, Co-founder of Regxta

Rukayat Bello is the co-founder of Regxta, a fintech company focused on financial inclusion for underserved populations in Africa.

With over six years of experience in accounting and banking, she is also a chartered accountant. Rukayat’s journey into financial services was inspired by her mother’s struggle to access credit for her micro-business.

This drove her to find solutions for people in similar situations.

In 2018, Rukayat found that over 600 million people in Africa remain unbanked, with limited access to financial services. Determined to make a difference, she co-founded Regxta to address these challenges.

Regxta was officially incorporated in December 2020 and started full operations in January 2021, providing micro-lending, savings, insurance, and pension services through trained community agents.

Since its inception, Regxta has processed loans worth over $600,000 for more than 2,000 customers, generating over $72,000 in revenue with a low non-performing loan rate of less than 1%.

The platform has empowered rural and semi-urban communities, including migrants and internally displaced people, with Rukayat leading the charge toward financial empowerment and poverty reduction in Africa.

Regxta’s vision is to expand its reach to over 5 million people by 2027, furthering Rukayat’s mission to create sustainable, innovative solutions for financial inclusion.

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12. Solape Akinpelu, CEO of HerVest

Solape Akinpelu is the co-founder and CEO of HerVest, a fintech platform that champions financial inclusion for women across Africa.

Focused on empowering smallholder women farmers and women-led small and medium enterprises (SMEs), HerVest was launched in August 2020 with a mission to close the $42 billion gender finance gap, particularly in agricultural value chains.

With a Master’s degree in Mass Communication from the University of Lagos and executive training from INSEAD and Lagos Business School, Solape has over 12 years of experience in financial marketing and communications.

Before founding HerVest, she served as the Head of Marketing at Meristem, a leading investment and wealth management firm, and worked with financial institutions like Skye Bank, Sterling Bank, and Wema Bank.

Under Solape’s leadership, HerVest offers goal-oriented savings, impact investing, and credit services tailored specifically for underserved women. The platform has grown to serve over 40,000 members, providing them with competitive returns on savings and investments.

The HerVest app allows users to invest in women-led SMEs and includes a dollar investment feature for portfolio diversification and inflation protection.

Beyond HerVest, Solape serves as the Global Co-Chair of Marketing for the Women in Tech Global Movement and is a member of Nigeria’s Presidential High-Level Advisory Committee on Women’s Economic Empowerment. She is also the author of the best-selling book Stripped: An African Woman’s Guide to Building Generational Wealth, and is a sought-after speaker on gender finance and financial inclusion.

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This list isn’t complete without our very own: Grace Effiom, Head of Enterprise at Lendsqr

Grace Effiom is the Head of Enterprise at Lendsqr, where she plays a pivotal role in helping to build and scale the company’s platform for lenders. With a background in Mass Communications, Grace has navigated various roles within Lendsqr, from customer success and HR to finance, product management, and project management. Her extensive experience in the fintech industry and hands-on involvement in launching Lendsqr have shaped her as a multifaceted leader.

Grace has been instrumental in helping over 2,000 lenders reach more than one million borrowers through Lendsqr’s services. She is also deeply involved in combating fraud within the lending sector, emphasizing the importance of robust authentication measures and collaboration among institutions to prevent fraudulent activities.

Beyond her professional achievements, Grace is passionate about empowering African communities, aspiring to bring joy and economic opportunities to a billion Africans. She is an advocate for gender equity in tech and often speaks about the challenges women face in the industry.

These women are inspiring the next generation

Nigeria is proud of the accomplishments of these 12 female CEOs in the Nigerian credit ecosystem. From founding and leading fintech companies to creating innovative financial solutions, they are paving the way for a more inclusive financial future in Nigeria.

Their leadership is not only reshaping the credit landscape but also inspiring the next generation of entrepreneurs, innovators, and leaders in the industry.

Through their work, they are showing that with vision, determination, and expertise, it’s possible to break new ground and drive lasting change in the financial sector.