Payments services giant Flutterwave, whose valuation ballooned over $3 billion at the start of the year, has announced the drafting of Emmanuel Efenure from Mastercard to come head the newly created Risk and Compliance Office for Africa.
Emmanuel Efenure was the Director of Customer Engagement and Performance, responsible for leading Customer Compliance and Risk efforts for Sub Saharan Africa at Mastercard.
According to a statement from Flutterwave, Emmanuel will oversee the continued development and execution of Flutterwave’s risk, security and scheme compliance strategy for Africa including the delivery of growth of Flutterwave business and ecosystem in a changing risk landscape like Africa.
Furthermore, he will be the primary point of contact for all risk-related projects, processes, and operations and lead the risk management efforts for Flutterwave in Africa.
Emmanuel brings over 22 years of Banking and Risk management experience to bear in his new role at Flutterwave.
He has held similar positions at United Bank for Africa, Standard Chartered Bank, and Mastercard.
At Mastercard, he developed and executed Mastercard’s safety and security strategy for Sub-Saharan Africa, and provided strategic guidance on risk & compliance matters to the business, key partners, and Mastercard customers in Sub-Saharan Africa.
The Risk Group has not been part of the company’s units. However, it was introduced by Flutterwave Compliance Team to enable faster development and implementation of Risk initiatives.
Emmanuel joins Flutterwave to lead this Group for Africa.
Over the last couple of months, Flutterwave has been on a hiring spree, including Gurbhej Dhillon, former Goldman Sachs Managing Director, as CTO; Oneal Bhambani, former Vice President of American Express, as CFO; and Mansi Babyloni, former Senior Manager at EY and PwC, as CPO.
Commenting on the news, Olugbenga GB Agboola, CEO and Founder of Flutterwave said, “The scale of our business and the speed of our growth means that we must be extremely cautious about those we let on our platform. Emmanuel comes with over 22 years of risk and compliance to improve our processes and ensure we keep the bad actors away. Emmanuel is not only an expert in the field, he also understands the risk landscape in the industry and the continent. We’re excited that he has joined us and look forward to all the great processes and systems he will bring to Flutterwave to improve our risk profile.”
Emmanuel Efenure said, “I’m thrilled to join Africa’s leading payments technology company to improve the risk processes for Flutterwave Africa operations. What we do is important to keep customers, partners, companies and the payment ecosystem safe. It excites me to work with this team of talented people building solutions for businesses in Africa and connecting them to the global payments system. I can’t wait to get started.”
