Flutterwave appoints Efenure head of risk management for Africa

Flutterwave, a fintech company providing payment infrastructure and service for global merchants, has appointed Emmanuel Efenure as head of risk management for Africa.

Efenure was formerly director, customer engagement and performance responsible for leading compliance and risk management in dub-Saharan Africa at Mastercard.

In this position, Efenure will be responsible for the continued development and execution of risk, security, and scheme compliance strategy for Africa, as well as the delivery of healthy growth of Flutterwave business and ecosystem in a changing risk landscape such as Africa. He will oversee the risk management initiatives for Flutterwave in Africa and serve as the main point of contact for all risk-related projects, processes, and operations.

A chartered accountant and graduate of Accounting from the University of Benin, Efenure comes with a rich experience in risk management and business operations, having held similar positions at United Bank for Africa (UBA), Standard Chartered Bank, and Mastercard.

He will bring his more than 22 years of experience in banking and risk management to bear his new position at Flutterwave.

At Mastercard, Efenure developed and executed the company’s safety and security strategy for sub-Saharan Africa and provided strategic advice on risk and compliance issues for the company, key partners, and Mastercard consumers in that region.

In order to facilitate faster development and implementation of risk initiatives, the Flutterwave Compliance Team created the Risk Group as a new unit. Efenure joins Flutterwave to serve as the head of this Group for Africa.

The appointment came after Flutterwave recently hired senior management, which included Gurbhej Dhillon, a former managing director at Goldman Sachs, as CTO, Oneal Bhambani, a former vice president of American Express, as CFO, and Mansi Babyloni, a former senior manager at EY and PwC, as CPO.

“Collectively these hires represent a major stepping-stone in the growth of Flutterwave as we gear up and prepare for its next step on its journey towards IPO,” Olugbenga 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,” he said.

The CEO said Efenure is not only an expert in the field, but 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,” he said.

On his part, Efenure said he was 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,” he said.