An appointment has been made by African payments giant Flutterwave for the position of chief financial officer (CFO), filling the role left vacant for nine months following the departure of the former CFO. The newly appointed CFO, Mitesh Popat, brings extensive experience from executive positions at Citi, where he served as CFO for Middle East and Africa and Global Equities Sales and Trading. Popat will be responsible for overseeing Flutterwave’s corporate finance functions.
With a background of over two decades in global financial services across various markets, Popat is expected to play a key role in driving Flutterwave’s next phase of growth and financial sustainability. In a statement, the company expressed confidence in Popat’s ability to contribute to its development and profitability.
Popat shared his outlook on the new role, stating, “I have a deep understanding of the African operating environment and the complexities of running a business in an emerging market. I aim to leverage my experience to support Flutterwave’s growth and enhance our business model for long-term profitability.”
This appointment follows the departure of the former CFO and chief operating officer from the company in recent months, leading to questions about Flutterwave’s IPO plans. Popat’s hiring aligns with the company’s revised product strategy, focusing on enterprise and remittance services. This strategy involved the discontinuation of the struggling Barter service, the relaunch of the Send App for international remittances, and the introduction of new offerings to assist local businesses in managing international currencies.
Flutterwave’s CEO, Olugbenga Agboola, expressed optimism about the new CFO’s ability to deliver value to both enterprise merchants and retail remittance customers, as well as contribute to the African fintech ecosystem.