The Chief Executive Officer of VoguePay, Michael Femi Simeon, has won the ‘Payment Personality Leader of the Year’ at African Prize for Leadership Awards.
The award initiative, supported by Forbes Africa and New Economic Partnership for Africa Development (NEPAD), celebrates national icons with proven track records in business, governance and social advocacy.
Receiving the award, the CEO dedicated the honour to the over 85,000 global businesses that relied on the platform to carry out their online transactions.
He added that the organisation had been able to attain the fastest growing fintech company in West Africa that has not raised external capital, as a result of clients continued patronage.
Commenting further, Michael remarked that the company’s entrance into the payment landscape in 2012 , heralded fintech revolution in Nigeria, which saw over 17,000 SMEs took their business online for the first time ,at no cost.
On how to enhance performance in the sector, Michael advised: “It is important that both fintech startups and banks collaborate and not to see the other as threat, this is necessary to unlock value for millennials.
“Of note is the need for proactive regulations which will call out innovations. For example, open banking and sandbox program will enable fintechs to launch bank-grade financial products that can position Nigeria’s financial services sector to global significance”. As part of its expansion plans, Michael disclosed that the company was set to launch its digital financial services platform in collaboration with partner banks, by Q1, 2019.