E-commerce giant Jumia appointed Anthony Mbagwu as the managing director of its Nigerian fintech arm, JumiaPay. Mbagwu joins JumiaPay from rival fintech PalmPay where he was a senior business development and partnership manager for ten months.
Mbagwu has over 15 years of experience in the financial services sector. He was previously head of business support at Unified Payments , a prominent payment infrastructure provider, and head of service operations at Access Bank.
According to Jumias 2023 filing, PalmPay is one of JumiaPays biggest competitors.
Jumia did not immediately respond to requests for comments
JumiaPay is integrated as a payment method at the checkout of online platforms like Jumiait processed about 39.5% of Jumia orders in 2023. It also has a standalone app that lets users make bank transfers, bill payments, loans, and merchant payments. One person familiar with the company said JumiaPays biggest customer is its parent company.
