Africa FinTech executive, Munya Chiura, joins the advisory
board of payment operations scale-up, Revio.
He will support the company’s expansion into new African markets.
According to
a statement issued today, Chiura has over 25 years of experience building
and scaling technology-enabled businesses on the African continent.
He is currently the Head of Africa Business Development for MPOWER Financing, the leading provider of
global education loans. Previously, Chiura served as Head of Growth for Rest of
Africa at Flutterwave, where he played a crucial role
in scaling the payment unicorn into new markets.
His former roles include Head of Middle East and Africa for
NASDAQ-listed Flywire, a global payments enablement and
software company, where Chiura built a deep understanding of local payment
cultures.
Revio is a unified payment operations
and revenue optimization platform focused on emerging markets. Founded in 2020,
the company enables businesses to seamlessly offer new payment methods, reduce
failed payments, and dynamically engage customers to collect arrears. The
platform is powered by rich analytics and payment behavior data, to optimize
conversion and collection success rates.
“The next wave of payment innovation in Africa will be
further accelerated by continued innovation towards digitisation,
accessibility, and interoperability,” shared Chiura. “Payment
gateways have set the foundation for digital payment acceptance, but
fragmentation and a lack of interoperability hinder adoption.”
Africa’s
digital payment transactions are growing 16% year-on-year, projected to reach $146 billion in
2023. However,
there are 275+ PSPs in Africa, with few universal and interoperable payment
methods. This creates significant integration complexity and operational effort
for businesses of all sizes. Revio seeks to address this challenge through a
single API pre-integrated with 30+ payment methods, with the ability to
selectively route and expose methods based on success rates and local adoption.
“Revio is targeting a key barrier to growth for
businesses in Africa,” shared Chiura. “The growing
complexity of payments is compounded by the high rates of payment failure,
often resulting from customer-related issues. Through leveraging alternative
payment methods and customer data, Revio contributes to digital enablement
across the continent.”
Nicole Dunn,
COO of Revio shared, “We’re excited to
work with Munya to scale our business into new African markets. We are
increasingly bullish about our platform’s ability to enable local and
multinational companies to collect more revenue in Africa. Munya’s experience
will be instrumental to enabling our expansion roadmap, ensuring we localize to
the nuances of each market.”
By: Nana Appiah Acquaye
