Nnenna Ajanwachukwu: A Trailblazer in Fintech and Banking

Nnenna Ajanwachukwu is a name that resonates within the financial services and payment industries, boasting over 15 years of diverse experience. Her journey, marked by a blend of consulting and hands-on roles, showcases her commitment to innovation and excellence in the ever-evolving landscape of finance.

Early Life and Education

Nnenna’s story begins in Nigeria, but her formative years were spent in South Africa. At the age of 11, she relocated with her family to Pretoria, where she would later pursue her education. Nnenna earned her Bachelor’s (Hons) Degree in Economics from the University of Pretoria, followed by a Master’s Degree in Economics from the University of Venda. This academic foundation laid the groundwork for her future endeavors in the financial sector.

Career Beginnings in South Africa

Nnenna’s professional journey commenced in South Africa in 2005, where she ventured into business development and marketing. This initial exposure to the corporate world ignited her passion for finance and set the stage for her future roles in banking and fintech. Like many expatriates, she felt a strong pull to return to Nigeria and contribute to her homeland’s development.

Transition to Banking

Upon her return to Nigeria, Nnenna embarked on a career in banking, where she honed her skills in economic analysis, market and risk management, treasury, and asset-liability management. Her experience in the banking sector provided her with a robust understanding of traditional financial systems, which would later inform her transition to the fintech space.

Making the Pivot to Fintech

In 2018, Nnenna made a significant career shift, moving from traditional banking to the fintech sector. She took on the role of Business Development Manager for Transport Solutions at InterSwitch, one of Nigeria’s largest payment and switching companies. This transition was driven by her desire for fresh challenges and the opportunity to innovate within a rapidly growing field.

Nnenna’s work in fintech encompasses market penetration strategies, business and product development, account management, and financial modeling. Her proven track record in driving revenue growth in both B2B and B2C environments underscores her adaptability and strategic mindset.

The Distinction Between Banking and Fintech

Reflecting on her experiences, Nnenna emphasizes the stark differences between traditional banks and fintech companies. While banks primarily focus on conventional services like savings and loans, fintechs leverage technology to identify and solve real-world problems. Nnenna believes that collaboration between these two sectors is essential for driving innovation and improving customer experiences.

“Fintechs use technology to drive changes and innovation in the banking sector,” she explains. “We can already see a few collaborations as against what it was like ten years ago when I was in the banking sector.”

The Expansive Potential of Fintech

Nnenna is optimistic about the fintech landscape, asserting that it is far from saturated. “The fintech space is so large. We are talking about every sector and the attendant demographics,” she notes. From financial inclusion to logistics and e-commerce, the opportunities for innovation are vast.

“There are too many problems to solve,” she adds, highlighting the potential for fintech solutions to address diverse challenges across various industries.

Advocating for Collaboration

In her vision for the fintech ecosystem, Nnenna champions collaboration over competition. She believes that by working together, fintech companies can create seamless solutions that benefit not only Nigeria but the entire African continent. “Let us aggregate the environment, let us digitize the sectors and work together,” she urges.

Challenges for Women in Fintech

As a woman in a predominantly male-dominated industry, Nnenna acknowledges the challenges faced by female leaders in fintech. Despite her positive experiences at InterSwitch, where gender is not a consideration for roles or benefits, she recognizes the broader issue of gender disparity in the sector.

“Female leaders face a lot of challenges in this space, from more difficulty raising funds to often being the only woman in a boardroom,” she shares. Nnenna believes that encouraging young girls to pursue STEM education from an early age is crucial for increasing female representation in tech.

The Future of Fintech and Nnenna’s Vision

Looking ahead, Nnenna has no immediate plans to become a founder. Instead, she is focused on her current role at InterSwitch, where she aims to develop inclusive solutions for the financially and technologically excluded. “Five years from now, I see myself building and developing inclusive solutions,” she states confidently.

Nnenna is also pursuing a PhD to deepen her understanding of the economics of financial innovations, further positioning herself as a thought leader in the fintech space. Her passion for public speaking and stakeholder engagement reflects her commitment to driving conversations that will shape the future of fintech in Nigeria and beyond.

Nnenna Ajanwachukwu is a dynamic force in the fintech industry, and her journey serves as an inspiration for many aspiring professionals. With her expertise and vision, she is poised to make a lasting impact on the financial landscape of Africa.