Olufemi, who joined Flutterwave in 2025 as Chief Financial Officer for Europe, the Middle East and Africa (EMEA), succeeds Mitesh Popat, who has departed the position after serving as the company’s global CFO for the past two years.
The appointment, announced in a statement obtained by Nairametrics, represents an internal leadership transition at a time when Flutterwave is seeking to consolidate its financial position, improve profitability and support continued growth across the more than 30 countries where it operates.
Flutterwave founder and Chief Executive Officer, Olugbenga “GB” Agboola, said Olufemi’s experience and performance in her previous role positioned her for the expanded responsibility.
“Over the past year, she has effectively led Flutterwave’s EMEA financial operations and has a proven track record, particularly from her recent experience at one of Africa’s largest financial institutions. Morounke has demonstrated that she is the financial leader we need at this moment.”
Agboola also thanked the outgoing CFO for his contribution to the company.
“We are grateful to Mitesh for his leadership over the last two years and fully support his next chapter. We move forward in a position of absolute strength.”
Focus on financial discipline and profitability
Olufemi’s elevation comes with the company placing greater emphasis on financial discipline, margin expansion and sustainable profitability as it scales its payment and financial services operations globally.
In her first comments following the appointment, the new global CFO said Flutterwave’s financial strategy remains on course.
“I am excited to step into the global CFO role. Our financial trajectory remains firmly on course.”
She added that the company would maintain its focus on disciplined capital deployment and improving its financial performance.
“We will continue executing our strategy with a focus on capital discipline, margin growth, and sustainable profitability.”
Olufemi also highlighted the importance of collaboration across the company’s international operations as Flutterwave pursues long-term growth.
“I look forward to working with our global teams to drive long-term value for all our stakeholders.”
According to the fintech, Olufemi’s background in banking, corporate finance and mergers and acquisitions will be particularly relevant as it expands its financial services offerings and strengthens operations across its global markets.
From Access Holdings to Flutterwave
Olufemi brings more than 24 years of professional experience spanning finance, banking, strategy and corporate leadership across multinational organisations.
Before joining Flutterwave, she served as Group Chief Financial Officer of Access Holdings Plc, where she was involved in major capital and corporate transactions.
During her tenure, she played a key role in the group’s efforts to raise $300 million through Additional Tier 1 capital in 2023.
She also led Access Holdings’ rights issuance programme in 2024 as the group worked to meet bank recapitalisation requirements introduced by the Central Bank of Nigeria.
Her professional experience extends beyond capital raising. Olufemi has also been involved in complex mergers and acquisitions, including transactions that contributed to the creation of the second-largest Pension Fund Administrator in Nigeria.
She joined Flutterwave in June 2025 and, in her EMEA role, was responsible for financial operations covering more than 30 countries. She also worked alongside Popat in implementing the company’s broader financial strategy before taking over the global position.
Leadership change comes amid business expansion
The change at the top of Flutterwave’s finance function comes against the backdrop of significant growth in the company’s transaction volumes.
In June, Flutterwave announced that it had processed more than one billion transactions since inception, with the total value of payments facilitated through its platform exceeding $40 billion.
The company linked the growth to increased adoption of local payment methods across its operating markets.
Wallet-based collections recorded a 289 per cent increase in transaction volume over the preceding year, while the value of transactions conducted through bank transfers rose by 184 per cent during the same period.
The figures underscore the expanding role of digital payment infrastructure in Africa, where businesses and consumers are increasingly turning to electronic channels for collections, transfers and other financial transactions.
For Flutterwave, the growth has also coincided with efforts to broaden its financial services ecosystem through strategic investments, acquisitions and partnerships.
The company’s acquisition of open-banking platform Mono is part of that wider expansion, adding capabilities that support its ambition to provide businesses with a broader range of digital financial services.
Strengthening the financial architecture
Olufemi’s appointment therefore places an experienced corporate finance executive at the centre of Flutterwave’s financial strategy as the company moves beyond transaction growth and focuses increasingly on efficiency, margins and sustainable profitability.
Her experience at Access Holdings gives her exposure to large-scale capital raising, banking operations, regulatory requirements and corporate transactions, while her time at Flutterwave has provided direct experience of the fintech’s international financial operations.
The transition also allows Flutterwave to maintain continuity in its financial strategy following Popat’s departure.
With transaction volumes continuing to rise and the company expanding its presence across global markets, Olufemi’s mandate will include supporting the company’s growth while maintaining financial discipline and strengthening long-term value creation.
Flutterwave’s latest leadership move consequently comes at an important point in its evolution, as the company seeks to translate its expanding transaction base and growing international footprint into sustained financial performance.