Africa’s tech ecosystem is among the most dynamic and fast-evolving on this planet. Valued at an estimated $480 billion, the continent’s digital panorama is quickly remodeling, fueled by a rising variety of tech startups, funding alternatives, and improvements throughout industries like fintech, e-commerce, agritech, healthtech, and extra.
From Nairobi to Lagos and Cape City, African startups have been attracting important consideration, contributing to the continent’s growing share of world enterprise funding.
In 2024, African startups raised $2.2 billion in fairness, grants, and debt, marking a 25% lower from the earlier yr when $2.9 billion was raised. Regardless of this dip, the ecosystem stays resilient, with a wide range of high-potential startups scaling quickly and reaching unicorn standing—corporations valued at over a billion {dollars}.
The function of Chief {Financial} Officers (CFOs) in these unicorn corporations can’t be understated. These {financial} leaders are integral to navigating the complicated challenges of managing progress, securing investments, and driving {financial} technique in an surroundings that’s continually evolving.
On this function, we take a more in-depth have a look at the CFOs who’re behind a few of Africa’s most profitable unicorns, guiding their corporations by means of {financial} technique and making certain they’re well-equipped to scale in an more and more aggressive market.
Chinomso presently serves because the Chief {Financial} Officer (CFO) for Nigeria, overseeing {financial} methods and operations for the corporate’s flagship operations within the nation.
She has a profession log of over 13 years of cumulative expertise together with Finance administration with in depth experience in {financial} assertion audits throughout the manufacturing and telecommunications industries.
Previous to becoming a member of Interswitch in June 2015, she spent over 9 years at Massive-4 corporations, rising to the place of Supervisor at PricewaterhouseCoopers Nigeria.
Her skilled expertise span statutory and regulatory compliance, {financial} reporting, and accounting consistent with GAAP, in addition to {financial} administration, enterprise evaluation, and {financial} advisory. Chinomso holds a level in Biochemistry from Imo State University and is an Affiliate Member of the Institute of Chartered Accountants of Nigeria.
She just lately accomplished the Rising CFO program on the Stanford Graduate School of Enterprise in San Francisco and is presently pursuing a World Govt MBA at Imperial School Enterprise School in London.
Omar Elhamawy is a finance skilled with over 20 years of expertise in company finance, funding banking, and {financial} technique.
In 2023, he joined MNT-Halan as Chief {Financial} Officer, bringing his in depth experience to Egypt’s main fintech firm.
Previous to this, Omar spent almost a decade as CFO at SODIC, Cairo’s main property developer-where he drove {financial} planning, threat administration, and investor relations. Thus, contributing to the corporate’s sustained progress. He additionally served as Senior Funding Banker at Beltone {Financial}, managing high-profile funding offers, and as Assistant Supervisor at CIB Egypt, the place he specialised in company banking.
Omar is a CFA constitution holder and holds a Bachelor of Enterprise Administration from The American College in Cairo. His confirmed management and experience place him as a key determine in Egypt’s {financial} and fintech sectors.
MNT-Halan, based in 2018 by Mountie Nakhla, goals to digitally {bank} the unbanked and exchange money with digital options. It presents providers comparable to lending, funds, shopper finance, and eCommerce, serving over 5 million purchasers, disbursing $2.5 billion in loans, and processing over $50 million in month-to-month gross sales.
In January 2023, the corporate secured $400 million, turning into Egypt’s first unicorn and the primary African unicorn of the yr.
Mitesh Popat is the Chief {Financial} Officer of Flutterwave, a number one African fintech unicorn, a place he has held since June 2024. With over twenty years of world {financial} expertise throughout North America, Europe, the Center East, and Africa, Mitesh performs a pivotal function in driving Flutterwave’s progress and {financial} sustainability.
Earlier than becoming a member of Flutterwave, he spent 18 years at Citi in varied senior roles, together with CFO for the Center East and Africa, CFO for World Equities Gross sales and Buying and selling, and Head of Restoration and Decision Planning for Treasury.
Throughout his tenure at Citi, Mitesh offered {financial} management for companies producing $5 billion in annual income and partnered with CEOs on strategic course, efficiency administration, and useful resource optimization.
He was additionally chargeable for executing Citi’s institutional enterprise ventures and designing analytical frameworks for systemic threat administration in compliance with U.S. regulatory requirements.
Mitesh holds a CFA designation and earned an MS in Civil Engineering from Johns Hopkins College. His early profession included consulting banks on asset-liability administration at Quantitative Danger Administration. A passionate supporter of innovation, Mitesh can be an angel investor in startups throughout three continents.
Aboubacar Sidiki Kamagaté is the Head of Finance at Wave Cell Cash, a job he has held since June 2023. Based mostly in Côte d’Ivoire.
He additionally served because the Chief {Financial} Officer for Jumia Sénégal from April 2019 to January 2022, overseeing comparable duties whereas driving value management, threat administration, and system integration throughout the enterprise.
He additionally served because the Chief {Financial} Officer for Jumia Sénégal from April 2019 to January 2022, overseeing comparable duties whereas driving value management, threat administration, and system integration throughout the enterprise.
Earlier in his profession, Aboubacar held the place of Accounting Director at Jumia Côte d’Ivoire, the place he directed tax, treasury, accounting, and finance-related operations. His experience additionally extends to his time as a Finance Supervisor at FENIE BROSSETTE Côte d’Ivoire. He started auditing with Deloitte and PwC.
