Nigerian Fintech Sector Experiences Talent Surge Amidst Explosive Growth – In a remarkable show of resilience and growth, Nigerian fintech firms are actively recruiting and upskilling talent, spotlighting a sector that is booming despite a challenging business landscape this year. Leading companies such as Flutterwave, Moniepoint, OPay, Palmpay, and Paga are at the forefront of this recruitment surge, investing in talent as they navigate through a period of significant market expansion.
Against the backdrop of a turbulent year for many sectors, the fintech industry in Nigeria has not only weathered the storm but thrived. Firms report a substantial increase in transaction volume and value, accompanied by a significant uptick in new user acquisition. For instance, Moniepoint revealed over 1.6 million businesses have utilized its platform, highlighting its acquisition of a Kenyan fintech firm as part of its broader expansion strategy within the country.
In tandem with market growth, fintech giant Flutterwave has reignited its ambition to become a publicly listed company, following its recent market launches outside Africa. The firm announced on Monday a pioneering Engineering Mobility Programme in India, created in partnership with global business and technology transformation services provider Capgemini. This collaborative initiative will see Flutterwave’s engineering teams in Nigeria and the UK work closely with Capgemini’s technology talent in Bangalore, fostering an environment of knowledge-sharing, innovation, and cross-cultural exchange.
“We aim to provide our engineers with a unique opportunity to exchange knowledge, experience, and explore innovative approaches for emerging economies, while immersing in new cultures,” remarked Gbenga Agboola, CEO of Flutterwave.
This talent investment follows the company’s announcement of hiring 85% of its 299 graduate trainees, reflecting a commitment to nurturing next-generation workforce.
Similarly, Moniepoint celebrated the graduation of its inaugural HatchDev programme cohort, a specialized nine-month training designed to mold market-ready software engineers. The initiative, which kicked off in October 2022, aims to address Nigeria’s talent shortage by preparing 300 junior software engineers, 100 intelligent systems developers, and 100 IoT embedded systems engineers. Moniepoint is collaborating with Nithub on this visionary project.
“Nigeria’s booming economy, fueled by innovative tech firms addressing societal needs, makes it rewarding to train and equip local talent to compete globally,” stated Chukwudum Ekwueme, Moniepoint’s Vice-President of Engineering.
September also saw OPay and PalmPay enter the recruitment market, with Paga currently advertising various positions, including senior software engineer and sales executive roles. These recruitment drives underline the fintech sector’s buoyant condition and its pivotal role in fostering Nigeria’s digital economy growth.
With these initiatives and investments in talent development, the Nigerian fintech industry is not only securing its present but actively shaping its future, contributing significantly to the nation’s digital economy and overall prosperity. The ongoing recruitment and upskilling programs are a testament to the sector’s confidence and commitment to driving innovation, offering promising prospects for both the industry and the nation at large.