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E-commerce leader Jumia has announced the appointment of Anthony Mbagwu, a former executive at PalmPay, as the new managing director of its fintech division, JumiaPay.
Anthony Mbagwu brings over 15 years of experience in the financial services sector to his new role, making him a valuable asset for JumiaPay. His career includes notable positions such as Head of Business Support at Unified Payments, a leading payments and fintech firm in Nigeria, and Head of Service Operations at Access Bank, a major multinational commercial bank.
This strategic appointment is seen as a key step in revitalizing JumiaPay, which has faced significant operational challenges in recent years. In 2023, JumiaPay experienced a 38% decline in transaction volume year-over-year, with transactions totaling 2 million and a decrease in completed orders from 34% to 29%. However, the fintech platform has recently seen a 52% increase in transactions, reflecting efforts to enhance user experience and introduce new features like Pay on Delivery, which has boosted cashless orders.
JumiaPay is integral to the Jumia ecosystem, providing a seamless payment solution for transactions on Jumia’s online platforms. The standalone JumiaPay app enables users to conduct various financial activities, including bank transfers, bill payments, loans, and merchant transactions.
Anthony Mbagwu’s appointment is expected to drive innovation and operational efficiency in JumiaPay, reinforcing its role in the evolving fintech landscape.
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