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Payhippo Appoints Dami Olawoye as CEO to Lead Expansion into the Renewable Energy Industry

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In a strategic move to enhance its presence in the small and medium-sized enterprise (SME) lending sector, Nigerian fintech firm Payhippo has announced the appointment of Dami Olawoye as its new Chief Executive Officer. Olawoye, formerly the Chief Financial Officer (CFO) of Payhippo, will now serve as CEO, succeeding Zach Bijesse, who will transition to a position on the company’s board of directors.

With more than 3,000 active SMEs utilizing its platform and a track record of disbursing over N30 billion to businesses of various sizes, Payhippo has solidified its role as a key player in Nigeria’s fintech industry. The company has been instrumental in supporting small businesses, which are significant contributors to Nigeria’s economy, constituting 48% of the national GDP and accounting for 96% of businesses and 84% of employment.

Under Olawoye’s leadership, the company plans to channel its efforts toward supporting small businesses engaged in the renewable energy sector. The aim is to assist these enterprises in expanding their operations and generating job opportunities. As part of its expansion strategy, Payhippo will introduce new financial products, including asset finance and inventory finance, tailored to the specific requirements of SMEs.

In a statement, Olawoye expressed his enthusiasm for his new role, saying, “I am deeply honored to become CEO of Payhippo. Payhippo is a leading player in Nigeria’s fintech sector, and I am excited to lead the company’s growth and continued support for small businesses across the country.”

One of Payhippo’s noteworthy initiatives is its effort to address a significant gap identified in the lower end of the solar equipment distribution chain. Leveraging its expertise in SME lending, Payhippo intends to bridge this gap by offering customized financial solutions, thereby contributing to the growth of the renewable energy sector in Nigeria.

Outgoing CEO Zach Bijesse, who played a pivotal role in Payhippo’s journey, expressed confidence in Olawoye’s ability to lead the company into the future, stating, “I’ve always believed that Payhippo has the potential to be a force for good in Nigeria, helping small businesses grow and create jobs. I’m confident that Dami will continue to lead Payhippo forward on this mission, and I’m excited to see what the future holds for the company.”

As Payhippo embarks on this new chapter under Olawoye’s leadership, the company remains unwavering in its commitment to its core values of innovation, dignity, and prioritizing people. With a dedicated focus on empowering SMEs, Payhippo is poised to make a significant impact on Nigeria’s business landscape.

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