MasterCard Appoints Folasade Femi-Lawal as West Africa Country Manager

MasterCard appoints Folasade Femi-Lawal as West Africa Country manager and Business Head, and in the process succeeding Ebehijie Momoh, who has been at the helm of things since 2019.

MasterCard Appoints West Africa Country Manager

Her responsibilities in the new role include driving the agenda and mission of the firm for innovation and growth with both public and private stakeholders to help advance in West Africa.

MasterCard Appoints West Africa Country Manager

Femi-Lawal brings to the table over 25 years of diverse experience across various industries including financial services, management consulting, telecommunications, and business advisory.

Her professional journey includes significant roles in notable organizations. Notably, she led the Cards and Messaging Business at First Bank in Nigeria, where she played a pivotal role in shaping the bank’s Mobile Financial Services and Digital Banking Strategy. This experience underscores her proficiency in leveraging technology to drive innovation and enhance customer experiences in the financial sector.

Prior to her tenure at First Bank, Femi-Lawal served as the Head of the Loan Monitoring Unit at United Bank of Africa, where she gained valuable insights into risk management and loan portfolio optimization within the banking industry.

Additionally, she has a background in telecommunications, having managed the Regional Balanced Scorecard for eight regions at Airtel. This role highlights her ability to navigate complex organizational structures and drive performance improvement initiatives across diverse geographic areas.

Overall, Femi-Lawal’s extensive experience across multiple sectors positions her as a seasoned professional capable of providing strategic leadership and valuable insights to drive business growth and success.

Femi-Lawal’s Reaction to Her Appointment

Femi-Lawal following her appointment showed her excitement and commitment to working with the MasterCard team, stating that she is very much eager to “support the Nigerian government’s agenda for developing a powerful, inclusive, and secure digital economy, and welcome the opportunity to further elevate [Mastercard’s] presence and deliver unparalleled value to clients and customers.”

MasterCard Continues To Expand Its Presence and Influence

MasterCard, a leading player in the global payments industry, continues to expand its presence and influence through strategic partnerships and investments in fintech ventures. One of its recent moves involves acquiring a minority stake in MoMo, MTN’s fintech business, for $200 million. This transaction, which values MTN Group Fintech at $5.2 billion, reflects Mastercard’s commitment to leveraging digital payment solutions to drive financial inclusion and innovation.

In addition to its collaboration with MTN, MasterCard has also partnered with other industry leaders like Airtel Africa to launch cross-border remittance services. Through these partnerships, MasterCard aims to simplify money transfers for customers while facilitating financial transactions across borders.

MasterCard’s Investment Of $100 Million in Airtel Africa’s Mobile Money Business

Furthermore, Mastercard’s investment of $100 million in Airtel Africa’s mobile money business in 2021 underscores its strategic focus on expanding its footprint in the mobile payments space. By offering a range of services such as mobile wallets, international transfers, virtual credit cards, and loans, Mastercard aims to enhance financial accessibility and empower individuals and businesses to participate in the digital economy.

MasterCard’s Investments and Partnerships in the Fintech Sector

Overall, Mastercard’s investments and partnerships in the fintech sector demonstrate its commitment to driving innovation and advancing financial inclusion globally. As the digital payments landscape continues to evolve, Mastercard remains at the forefront, leveraging its expertise and resources to create impactful solutions that address the evolving needs of consumers and businesses alike.

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