Exploring Africa’s Financial Leaders: CFOs of the Continent’s Unicorn Companies

Africa’s tech ecosystem is experiencing rapid growth and transformation, with startups across the continent attracting significant attention and investment. In 2024, African startups raised $2.2 billion in equity, grants, and debt, marking a 25% decrease from the previous year. Despite this dip, the ecosystem remains resilient, with high-potential startups scaling rapidly and reaching unicorn status.

One key factor in the success of these unicorn companies is the role of Chief Financial Officers (CFOs). These financial leaders play a crucial role in navigating the complex challenges of managing growth, securing investments, and driving financial strategy in a constantly evolving environment.

Let’s take a closer look at some of the CFOs behind Africa’s most successful unicorns:

1. Chinomso Nwachukwu – CFO Interswitch (Nigeria)
Chinomso brings over 13 years of experience in finance management to her role as CFO of Interswitch. With expertise in financial reporting, accounting, and financial advisory, she plays a key role in overseeing the company’s financial strategies and operations in Nigeria.

2. Omar Elhamawy – CFO MNT-Halan (Egypt)
Omar has over 20 years of experience in corporate finance and financial strategy. As CFO of MNT-Halan, Egypt’s leading fintech company, he drives financial planning, risk management, and investor relations, contributing to the company’s sustained growth.

3. Mitesh Popat – CFO Flutterwave (Nigeria)
Mitesh, with over two decades of global financial experience, plays a pivotal role in driving Flutterwave’s growth and financial sustainability. His background at Citi and expertise in financial leadership make him a key figure in the African fintech sector.

4. Aboubacar Sidiki Kamagaté – CFO Wave (Senegal)
Aboubacar, the Head of Finance at Wave Mobile Money, has a strong background in finance operations and risk management. His expertise has been instrumental in Wave becoming the first unicorn from Francophone Africa in 2021.

5. Chris Eddy – Senior Vice President, Finance Chipper Cash
Chris brings over 20 years of experience in financial management to his role at Chipper Cash. With a proven track record of building finance and accounting teams for technology companies, he plays a key role in overseeing finance and operations at Chipper Cash.

6. Bayo Olujobi – CFO Moniepoint (Nigeria)
Bayo, with nearly 20 years of experience in the financial sector, has been instrumental in driving financial performance and operational efficiency at Moniepoint MFB. His exceptional financial leadership has earned him international recognition.

7. Anne Bastock – Head of Finance Tyme (South Africa)
Anne, with a diverse range of roles in financial and risk management, oversees financial management and investor relations at Tyme. Her expertise in business systems improvements and organizational change has been key to the company’s success.

These CFOs are at the forefront of Africa’s tech revolution, guiding their companies through financial strategy and ensuring they are well-equipped to scale in a competitive market. Their expertise and leadership are driving the growth and success of Africa’s most promising startups.