Banking
Finclusion Group Rebrands to Enhance Offerings, Market Footprint
By Adedapo Adesanya
Finclusion Group has announced a brand integration across its markets to Fin, which will facilitate Fin’s planned expansion into new markets in 2022 and 2023.
As it gets a rebrand, subsidiaries in its core markets will also follow suit, including Fin Kenya (formerly: TrustGro); Fin Tanzania (formerly: Fikia Finance) and Fin South Africa (with its products now being SmartAdvance by Fin, NiftyCredit by Fin, NiftyCover by Fin, MediFin and e-Fin).
With this step, the company is consolidating its footprint across Africa under one identity and highlighting its ambition to be the leading international neobank across Eastern and Southern Africa.
The company is also announcing a further equity injection to fuel growth as it is adding $2 million in equity funding to its $20 million round raised earlier in the year. This funding is led by existing investors Mr Leonard Stiegeler, who is also joining the board of the company, as well as Mr Sudeep Ramnani and Mr Jai Mahtani.
The funding will be used to add new, fully-integrated territories to its business and develop new offerings, specifically in support of microfinance banks wanting to offer more financial services with the help of Fin.
In a statement, Fin said its mission is to enhance the quality of life of its customers through simple, convenient, and appropriate financial services. This is why the Fin team across Africa has chosen its new slogan, Simply Smarter Finance.
Speaking on this, Mr Tonderai Mutesva, Co-Founder and co-CEO of Fin, said, “This brand integration is an important step in cementing Fin as the leader in the neobanking space in East & Southern Africa. We have fantastic leadership and a strong team across our markets, and with our joint brand and platform, we will continue to expand.”
Like other neobanks, Fin is already active across the credit, insurance, BNPL and other financial services space and by presenting its services under one name, the company says it will ensure that its quality offering and customer support are instantly recognized.
Also, this brand integration will facilitate Fin’s planned expansion into new markets in 2022 and 2023 and highlight its quality services to microfinance banks in its markets. Fin will soon offer services to these microfinance banks to enhance their value proposition to customers by allowing for higher credit or better saving tools. The technology behind this offering will be known as Fin Connect and is supported by Fin’s earlier acquisition of the microfinance technology services provider, Awamo.
Fin will also continue to support adjacent businesses in the space through its venture portfolio. Fin Ventures is focused on funding entrepreneurs and startups in Africa within the credit and banking space. These ventures are independently run but can benefit from the company’s expertise. One such venture is mTek-Services, a leading digital insurer in Kenya.
Adding his input, Mr Timothy Nuy, co-founder and co-CEO of Fin, noted that “Fin has been created by a team with proven experience in the African fintech space. I am delighted that our platform can extend this expertise and useful financial tools to our partners.”
By Modupe Gbadeyanka
Over 1,500 residents in Surulere, Lagos State, have received food packs from Fidelity Bank Plc under its Fidelity Food Bank initiative.
The items were distributed to beneficiaries in partnership with the Office of the Personal Assistant to the President on Constituency Affairs and the Sodiq Abiodun Ogundare (SAO) Foundation.
The financial institution developed the scheme to reinforce its commitment to community welfare and sustainable development.
The Regional Bank Head for Victoria Island/Lekki at Fidelity Bank, Mr Nnamdi Edekobi, described the initiative as a reflection of the lender’s unwavering dedication to improving the well-being of its host communities.
“Today goes beyond the distribution of food items; it is about uplifting lives, creating opportunities, and strengthening our commitment to the well-being of families in this community.” Mr Edekobi, represented by the Branch Leader for Adeola Odeku Branch, Ms Ifeyinwa Asomugha, stated.
He disclosed that since its inception, the initiative has distributed more than 150,000 food packs across Nigeria’s six geopolitical zones, positively impacting hundreds of communities nationwide.
“Today’s outreach has provided over 1,500 beneficiaries with essential feeding supplies that will help address hunger, support healthy living, and improve the overall well-being of families. This initiative also aligns with the United Nations Sustainable Development Goal 2, which focuses on achieving Zero Hunger,” he added.
Mr Edekobi further commended the Personal Assistant to the President on Constituency Affairs, Ms Khadijat Kareem Omotayo, for supporting the initiative and fostering impactful partnerships that benefit underserved communities.
On her part, Ms Omotayo praised Fidelity Bank and the SAO Foundation for bringing meaningful support to residents of Surulere.
“I am very happy that the foundation is growing. Fidelity Bank are our people, and I appreciate this collaboration that has brought this massive opportunity to our people in Surulere Constituency 1,” she stated.
She expressed optimism about sustaining future partnerships with the bank to continue improving the lives and livelihoods of Nigerians.
By Aduragbemi Omiyale
Children and teens interested in participating in becoming the chief executive of Wema Bank for one day have till Wednesday, May 20, 2026, to submit their entries.
The One-Day MD/CEO initiative was introduced by Wema Bank in 2025 to commemorate Children’s Day in a uniquely unprecedented manner.
The winner of the maiden edition was a 12-year-old Chiderije Mbah, inspiring children across the country to put in the work towards a successful future.
Inspired by the bank’s 80th anniversary theme, 80 Years of Impact, A Future of Possibilities, the Wema Bank One-Day MD/CEO initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day—Children’s Day.
For the 2026 Children’s Day celebration, Wema Bank will give another child or teenager [ages 0-16] a chance to step into the shoes of the chief executive of the bank, Mr Moruf Oseni, for a day.
The child will get to oversee board meetings, make tactical decisions, and experience firsthand the demands and responsibilities that come with the office of MD/CEO, especially for an institution like Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT.
To participate, children/teens are expected to record a 60-second video detailing what their ideal role in banking would be and what they hope to achieve. This video is to be posted on any social media platform using #EvolutionOfPossibilities and tagging @wemabank on the post. The post with the highest number of likes emerges as the winner, and the winner gets to become MD/CEO of Wema Bank on Monday, May 25, 2026, in celebration of Children’s Day, with parents and teens encouraged to hurry and make their submissions before the deadline.
By Adedapo Adesanya
Nigerian tier-1 lender, First Bank, has announced the introduction of its Naira Visa Debit Card in partnership with the global payments giant to extend accessible, reliable electronic payment capabilities to a broader segment of the Nigerian population.
The card is targeted at everyday consumers who require a dependable payment instrument for routine domestic and international transactions. Accepted across POS terminals, ATMs, and online platforms through Visa’s payments network, the Naira Visa Debit Card is designed to reduce friction for customers transitioning from cash to electronic payments across retail, utilities, and digital commerce.
According to the bank, the partnership aligns with Nigeria’s ongoing drive toward a cashless economy, a policy direction that has gained significant momentum following successive Central Bank of Nigeria directives encouraging the adoption of electronic payment channels, adding that the card is intended to serve customers across the country’s diverse economic segments.
The Naira Visa Debit Card is available to all eligible FirstBank account holders through any of the bank’s branches nationwide.
Speaking on the launch, Mr Chuma Ezirim, Group Executive, eBusiness & Retail Products, FirstBank, said: “Everyday transactions should be simple, secure, and rewarding. The Naira Visa Debit Card is designed to make life easier for our customers, whether they are paying for groceries, settling utility bills, or shopping online.
“By extending reliable electronic payment access across Nigeria, we are helping more people transition confidently from cash to digital payments, supporting the nation’s cashless policy and empowering communities with greater financial inclusion.”
Commenting on the strategic importance of the partnership, Mr Andrew Uaboi, Vice President and Cluster Head, West Africa, Visa, noted: “A strong payments ecosystem works for everyone. The Naira Visa Debit Card extends reliable electronic payment access to everyday Nigerian consumers, and this in addition to the cards in our portfolio, continues to demonstrate what a truly comprehensive card portfolio looks like for the Nigerian market. Visa is proud to power this offering with FirstBank.”
The launch of the Naira Visa Debit Card broadens Visa’s card portfolio at FirstBank, which already includes products spanning credit cards and High-end premium lifestyle spending cards. The addition completes its offering across customer segments, ensuring that cardholders at every income level have access to a product suited to their needs.
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