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Oneal Bhambani Joins Flutterwave as Chief Financial Officer

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Oneal Bhambani Flutterwave

By Modupe Gbadeyanka

Africa’s leading payments technology company, Flutterwave, now has a new chief financial officer and is Mr Oneal Bhambani, who is joining the firm from American Express.

In a statement on Tuesday, it was disclosed that Mr Bhambani will serve a key function in enabling the company’s expansion with best-in-class discipline, operational controls and financial rigour and the appointee has expressed his desire to achieve this goal.

“It is a rare opportunity to join a high-scale, de facto market leader in one of the fastest-growing markets in the world.

“I am looking forward to partnering with Flutterwave’s team to enable solutions for our customers in Africa and across the globe. I fully expect to apply best-in-class strategies learned from my tenures at American Express and Kabbage,” he was quoted as saying in the statement made available to Business Post.

At American Express and Kabbage, the new CFO managed fintech businesses operating at scale and helped lead the sale of Kabbage and its integration within American Express’ Global Commercial Services segment.

At Kabbage, he was responsible for all of the company’s financial operations and functions including IPO-ready financial and operational controls.

Following the American Express acquisition in April 2022, he was the CFO and Head of Capital Markets of Kabbage’s business unit, which provides credit, banking, and payments solutions to American Express’ commercial customers.

Before and after the acquisition, he was a key stakeholder in capital allocation and led critical strategic initiatives for the business.

Earlier in his career, Mr Bhambani was a growth-stage investor at The TCW Group (an investment firm owned by The Carlyle Group), and Riverwood Capital. He began his career in investment banking at UBS.

“I am excited to welcome Oneal to Flutterwave. His track record of operating finance to enable scale and innovation with listed company standard financial controls will help us accelerate our growth as we continue to meet the needs of our expanding global customer base.

“I am also looking forward to working with Oneal on deal-related initiatives, given the number of inorganic opportunities we are seeing in today’s market environment,” the founder and CEO of Flutterwave, Mr Olugbenga ‘GB’ Agboola, said.

The value of Flutterwave is believed to be more than $3 billion after it recently completed its $250 million in Series D funding.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Jobs/Appointments

Osun Civil Servants Will Enjoy my Administration—Adeleke

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Osun civil servants

By Modupe Gbadeyanka

The new Governor of Osun State, Mr Ademola Adeleke, has promised to prioritise the welfare of civil servants of the state.

In a statement signed by his spokesman, Mr Olawale Rasheed, on Monday, the Governor said Osun civil servants have nothing to fear as his administration would cater to them.

According to Mr Adeleke, who held a meeting with the workers a day after he assumed office, the interest and condition of service of the state employees are parts of his five-point agenda.

“I will be favourable to civil servants. You will enjoy my administration. We will be worker’s friendly in our policies and actions,” he stated.

Also today, the Governor swore in Mr Kazeem Akinleye as his Chief of Staff, and Mr Teslim Igbalaye as the Secretary to the State Government (SSG), tasking them to brace up for the delivery of good governance.

He said the political appointees were picked for the positions because they are “worthy sons of Osun State” and strong members of the Imole team with the best interest of the state at heart.

At the event attended by top political and religious leaders as well as traditional rulers, including the Deputy Governor of Osun State, Prince Kola Adewusi and Ataoja of Osogbo, Oba Jimoh Olanipekun, the state governor said his appointees would strengthen the capacity and capabilities of his administration to deliver on his five-point agenda.

“I ask you to brace up to meet the challenges on the ground. We are hitting the ground running by addressing a lot of complications we met on the ground. It is your duty to be a team player and deploy your wealth of experience for the success of our administration,” the Governor noted.

Responding on behalf of other appointees, Mr Igbalaye assured his boss of their readiness to support him in his strong desire to take Osun state to the promised land, stressing that “we are committed to the faithful and successful implementation of the five-point agenda.”

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Prudential Empowers Young Professionals Aspiring to be Change Makers

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Prudential young professionals

By Adedapo Adesanya

Prudential has reiterated its efforts to contribute to the growth and transformation of the economy and young employees by bringing a fresh perspective and a different way of thinking to any business.

This was the crux of the company’s recently concluded four-day immersive leadership programme, which saw young professionals from across the group hosted in Lagos.

The programme sought to inspire, empower and develop a community of young employees to become active change makers through innovation in order to create a future-ready Prudential.

Now in its third cohort, the Prudential Young Professional Programme is a grouping of 40 young employees aged 35 years and below from Africa, Europe and Asia i.e. Cameroon, Cote d’Ivoire, Ghana, Kenya, Togo, Uganda, Zambia, Nigeria, Singapore, Thailand, Malaysia, the United Kingdom selected on the recommendation of their leaders.

The young professional programme was designed to connect young changemakers across the group to each other, mentors who are CEOs as well as senior executives, to learn and create solutions for our customers.

“With an average employee age of 37 years in Africa, we value thoughts and ideas from our younger employees. The program is not only designed to serve our customers to get the most out of life, but we also enable all employees to pursue their dreams and reach the highest potential, both personally and professionally. Prudential is counting on the young professionals, our next generation, to continue building our legacy as future leaders and create a future-ready Prudential,” said the Chief HR Officer for Prudential Africa, Mrs Maria Shipiri.

“As a just and inclusive employer, Prudential strives to create a work environment where our diverse and talented team can bring their authentic selves to the workplace in order to create, innovate, learn, succeed and grow,” said Mrs Nikki Davies, Group Diversity and Inclusive Director.

Harnessing on the creativity and energy of our young colleagues, the cohorts will collaborate across locations, businesses, and departments, generating ideas and prototypes and resulting in proposals to create a future-ready and competitive Prudential.

With over 540 employees in Africa 35 or less, the programme focuses on building a tight-knit cohort while simultaneously supporting individuals and uniting emerging leaders from various businesses to engage in value-based leadership discussions and hands-on workshops while also gaining visibility across senior stakeholders and co-creating solutions for the company.

As part of Prudential’s growth roadmap, we are significantly investing in our people and technology to build the capacity to serve more customers. Today, Prudential serves over 19 million life customers in Asia and Africa.

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IFC Picks Dahlia Khalifa as Regional Director for Nigeria, Others

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Dahlia Khalifa

By Adedapo Adesanya

The International Finance Corporation (IFC) has announced the appointment of Ms Dahlia Khalifa as its Regional Director for Central Africa, Liberia, Nigeria, and Sierra Leone.

In her new role, she will drive IFC’s strategy to create a more resilient and sustainable private sector to support the development and job creation in the region.

Ms Khalifa will lead IFC’s investment and advisory teams in Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea, Gabon, Liberia, Nigeria, Sao Tome and Principe, and Sierra Leone. While these countries face challenges such as rising inflation and the effects of climate change, a young, vibrant, and entrepreneurial population presents opportunities for a more dynamic private sector.

In a statement made available to Business Post, it was revealed that the new regional head would be based in Lagos, Nigeria.

Speaking on her appointment, Mr Sérgio Pimenta, IFC Vice President for Africa, said, “I look forward to working with Dahlia and her team to deliver on new opportunities in the years to come, such as empowering more of the region’s entrepreneurs.”

On her part, the appointee said, “We are stepping up our work to empower the private sector and to work jointly with government and development partners to deliver greener, more inclusive, and sustainable growth in the region. I  commit to further strengthening IFC’s work so that together we can build the strong foundations for private and public sector partnerships.”

Ms Khalifa, an Egyptian and American national, was most recently the Senior Manager for IFC’s Creating Markets Advisory program in the Middle East, Central Asia, Türkiye, Pakistan, and Afghanistan region, where she and her team supported the removal of barriers to investment to strengthen the private sector and boost economic development.

Before joining the World Bank Group, she founded and managed financial services companies providing brokerage, corporate finance, private equity investing, and management consulting services in the Middle East and Africa.

As of September 30, IFC had an investment and advisory portfolio in Central Africa and Nigeria of more than $2.53 billion across financial services, infrastructure, and agribusiness and is continuing to grow its portfolio in health, manufacturing, and value chain development.

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