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Monday, April 15, 2024

Herbert Wigwe Tech Investments And Support In Systemspecs, BVN, Flutterwave and Others

Since the death of Herbert Wigwe, the founding CEO of Access Holding Plc, on 9 February 2024, he has been praised by tech founders and executives for his significant impact on their lives and businesses. Ola Brown, founder of HealthCap, compared Wigwe to Warren Buffet’s Oracle of Omaha, describing him as a blueprint for hard work, discipline, and hustle. Wigwe’s contributions to Nigeria’s tech industry include Flutterwave, Unified Payments, and SystemSpecs.

Taking a big chance on Flutterwave

Gbenga ‘GB’ Agboola and co-founder Iyinoluwa Aboyeji believe Wigwe played a significant role in the creation of Africa’s most valuable fintech company, Flutterwave. Wigwe, an alumnus of Access Bank, pitched the company to major technology companies in San Francisco, serving as a reference with Silicon Valley investors and fostering business growth.
Agboola, a 30-year-old engineer and entrepreneur, joined Access Bank as a senior role after his startup was acquired. Herbert’s guidance and faith in his potential made digital transformation achievable.

Pushing Remita to mainstream
SystemSpecs’ Remita payment platform, used by 22 states and 3.8 million users, is the most preferred payment solutions company in Nigeria. In 2018, it needed a partner to secure approval from the Central Bank of Nigeria for its Remita Data Referencing Services, requiring commercial bank backing.
Access Bank, led by Wigwe, collaborated with SystemSpecs to secure approval from the Central Bank of Nigeria (CBN) for federal workers to access payday loans. The Remita Data Referencing Services provided access to loans from other lenders, leading to the liberalization of retail lending. The partnership, led by Herbert, has opened a new frontier for retail loan provision and expanded economic activities at the retail level.

The BVN, banking agents, and eTranzact

Herbert Wigwe, a prominent
member of the Bankers Committee, pushed for the adoption of the Biometric Verification System in Nigeria in 2014 and championed the creation of the banking agent network in 2018. He also funded Unified Payments and eTranzact, with eTranzact CEO Niyi Toluwalope stating Wigwe’s exceptional leadership and strategic insights contributed to their growth.
Herbert a visionary financial technology pioneers, made millions of dollars in Nigerian startups after his death. His visionary approach significantly transformed the industry, according to investment accountant Feyi Fawehinmi.

#Flutterwave #Accessbank #Healthbank #CBN

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