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Flutterwave names former Mastercard’s Director, Efenure, as Head of Risk for Africa

By Eniola Daniel
06 October 2022   |   3:43 pm
Former Director, Customer Engagement and Performance responsible for leading Customer Compliance and Risk efforts for Sub-Saharan Africa at Mastercard, Emmanuel Efenure has joined Flutterwave as Head of Risk for Africa.

Emmanuel Efenure

Former Director, Customer Engagement and Performance responsible for leading Customer Compliance and Risk efforts for Sub-Saharan Africa at Mastercard, Emmanuel Efenure has joined Flutterwave as Head of Risk for Africa.

In this role, he will oversee the continued development and execution of Flutterwave’s risk, security and scheme compliance strategy for Africa including the delivery of healthy growth of Flutterwave business and ecosystem in a changing risk landscape like Africa. 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.

Efenure brings over 22 years of Banking and Risk management experience to bear in his new role at Flutterwave.

A chartered Accountant and graduate of Accounting from the University of Benin, Efenure has experience in risk and business operations having held similar positions at United Bank for Africa (UBA), 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 and compliance matters to the business, key partners and Mastercard customers in Sub-Saharan Africa.

The Risk Group is a new unit carved out of the Flutterwave Compliance Team to enable faster development and implementation of Risk initiatives. Emmanuel joins Flutterwave to lead this Group for Africa.

The appointment followed Flutterwave’s recent senior management hires, including former Goldman Sachs Managing Director, Gurbhej Dhillon as CTO; former Vice President of American Express, Oneal Bhambani as CFO; and former Senior Manager at EY and PwC, Mansi Babyloni as CPO.

Commenting on the news, CEO and Founder of Flutterwave, Olugbenga Agboola, said: “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.

“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, 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.”

On his part, 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.”