Jumia hires ex-PalmPay manager, Anthony Mbagwu, to head its Nigerian fintech subsidiary
- Jumia appointed Anthony Mbagwu as the managing director of JumiaPay.
- Mbagwu joins from rival fintech PalmPay.
- JumiaPay processed $192 million in payments in 2023.
The appointment of Anthony Mbagwu as the managing director of JumiaPay is a strategic move to strengthen Jumia's position in the Nigerian fintech market. With his experience in the financial services sector and knowledge of the competition, Mbagwu can contribute to the growth and profitability of JumiaPay. The company's focus on cost-saving measures and revenue increase has been positively received by investors, as reflected in the significant rise in share price.
