Stanbic IBTC Holdings has named seasoned fintech executive Kemi Okusanya as the new Chief Executive Officer of Zest Payments Limited, a move that signals the financial group's renewed push to deepen its footprint in Nigeria's fast-evolving digital payments landscape.
The appointment places one of the country's most experienced payments professionals at the helm of Zest Payments at a time when competition among fintechs and bank-backed payment platforms is intensifying. Okusanya takes over from Stanley Jacobs, who previously led the company before moving to Meristem as Group Chief Innovation and Technology Officer.
Her arrival comes as Zest Payments seeks to accelerate growth, strengthen its market position, and convert years of investment in technology and infrastructure into stronger commercial performance.
Before joining Zest, Okusanya served as Managing Director of Hydrogen, the fintech subsidiary of Access Holdings, where she played a central role in building the company from the ground up. During her tenure, Hydrogen secured key regulatory approvals and established itself as a notable player in Nigeria's payments ecosystem.
Announcing her exit from Hydrogen in a LinkedIn post, Okusanya reflected on the journey and the team she leaves behind.
“I will truly miss the Hydrogen team. It has been a privilege building the company to this stage,” she said.
Expressing confidence in the organisation's future, she added:
“As I pass on the baton, I am confident that the culture we shared, the values we built, and the belief system that united us will be preserved.”
With more than 18 years of experience across banking, payments, and financial technology, Okusanya brings a wealth of industry expertise to her new role. Her career spans leadership positions at Visa, MoneyGram International, Zenith Bank, and ExxonMobil, giving her extensive experience across both local and international financial services markets.
Industry observers credit her with helping to transform Hydrogen into a recognised payments and switching platform. Leveraging Access Holdings' banking network, the company expanded its reach and strengthened its presence across several markets, positioning itself as a serious contender in Africa's digital payments sector.
For Stanbic IBTC, Okusanya's appointment represents more than a routine leadership transition. It comes at a critical stage in the evolution of Zest Payments, the group's fintech subsidiary and digital payments platform.
Formerly known as Stanbic IBTC Financial Services, Zest Payments provides payment orchestration and e-commerce solutions for businesses and consumers. The platform enables transactions through multiple channels, including real-time payments, QR codes, USSD, card payments, and bank transfers, offering merchants a unified system for managing digital payments.
Since launching in May 2023, Zest has invested heavily in expanding its payment infrastructure and growing its merchant network. While the company has built significant technological capabilities, it is still working towards achieving stronger profitability and sustainable unit economics.
To support its long-term growth strategy, Stanbic IBTC injected N4 billion into the business in January 2025. The capital injection formed part of a broader effort to strengthen the fintech's balance sheet, enhance its technology infrastructure, and expand merchant acquisition initiatives.
The investment also reflects the growing importance of digital payments within the banking sector as financial institutions increasingly compete with standalone fintech companies for market share.
Zest faces competition from several well-funded players, including Squad, the payments platform backed by GTCO, as well as Hydrogen, the company Okusanya previously led. The rivalry highlights how traditional banks are increasingly establishing dedicated fintech subsidiaries to capture opportunities in Nigeria's rapidly expanding cashless economy.
With electronic transactions continuing to rise and digital payment adoption accelerating across the country, expectations will be high for Okusanya to replicate the growth and execution that characterised her tenure at Hydrogen.
Her ability to leverage Zest's existing infrastructure, deepen merchant adoption, and unlock new revenue streams could play a decisive role in determining whether the platform emerges as a leading force in Nigeria's increasingly crowded payments market. :::