Zedvance Announces New Board Chairman
Zedvance, a leading Nigerian fintech company, has announced the appointment of Professor Pius Deji Olanrewaju as the Chairman of its Board of Directors. The appointment takes effect immediately, according to a statement released by the company on Monday.
Professor Olanrewaju's Background
Professor Olanrewaju brings extensive experience in academia, corporate governance, and public service. He is a professor of Economics at the University of Lagos and has served on several boards, including the Nigerian Economic Summit Group and the Lagos State Economic Advisory Committee. His expertise is expected to guide Zedvance's strategic direction as it expands its digital lending and financial inclusion initiatives.
Strategic Implications for Zedvance
The appointment comes as Zedvance seeks to deepen its footprint in the Nigerian fintech space, which has seen rapid growth driven by increasing smartphone penetration and demand for alternative credit. The company offers instant loans, savings products, and payment solutions via its mobile app. With Professor Olanrewaju's leadership, Zedvance aims to strengthen governance structures and foster innovation.
Quote from the Company
According to the company's CEO, Mr. Adedeji Olowe, "We are delighted to welcome Professor Olanrewaju to our board. His wealth of experience in economic policy and corporate strategy will be invaluable as we navigate the evolving financial landscape and scale our operations."
Industry Context
Zedvance, which has disbursed over ₦50 billion in loans since inception, competes with other digital lenders like FairMoney, Carbon, and Branch. The fintech sector in Nigeria attracted over $1.2 billion in funding in 2024, highlighting the growing investor confidence. The appointment of a respected academic and policy expert signals Zedvance's commitment to robust governance and sustainable growth.
