Business and Economy

Folasade Femi-Lawal is the new Country Manager for Mastercard West Africa

Mastercard, a prominent company in the field of digital payments and technology, is delighted to announce the appointment of Folasade Femi-Lawal as the newly appointed Country Manager and Area Business Head for West Africa.

With an extensive background of over 25 years in various industries such as financial services, management consulting, telecommunications, and business advisory services, Folasade brings a wealth of knowledge and expertise to her new role.

As the Country Manager, Folasade will be responsible for driving the company’s strategic vision, fostering innovation, and promoting growth. Additionally, she will focus on strengthening partnerships with key stakeholders and advancing the company’s mission of creating a more connected and inclusive digital economy in West Africa.

Folasade’s experience as a trusted senior executive has demonstrated her ability to consistently achieve business growth objectives in diverse environments, including start-ups, turnarounds, and rapidly changing markets.

During her tenure at First Bank, Nigeria, Folasade successfully led initiatives in Mobile Financial Services and Digital Banking Strategy, resulting in significant growth in the card subscriber base and market share as the Head of Cards & Messaging Business.

Prior to her time at First Bank, Folasade served as the Head of the Loan Monitoring Unit at the United Bank of Africa, where she oversaw critical aspects of credit risk management. With a strong background in digital payments, she has played a pivotal role in driving innovation and enhancing customer experiences within the banking sector.

Before her banking roles, Folasade excelled as a consultant at PwC and made significant contributions at Airtel, where she managed the Regional Balanced Scorecard for eight regions.

We are pleased to announce the addition of Folasade to the Mastercard family. Folasade’s extensive knowledge and experience in the digital payments industry will greatly benefit Mastercard’s operations in West Africa. Her arrival comes at a crucial time when Nigeria is undergoing a significant shift towards a cashless society, thanks to digital innovation. Folasade will collaborate closely with both private and public sector stakeholders in the country to further drive this transformation. Her impressive track record of leadership, innovation, and commitment to positive change perfectly aligns with our vision for the region. Mark Elliott, Division President for Sub-Saharan Africa at Mastercard, expressed his enthusiasm for Folasade’s appointment.

Folasade is widely recognized for her dedication to promoting inclusive growth and empowerment, particularly for women and children. This is evident through her philanthropic efforts and mentorship roles with organizations such as Women in Management, Business and Public Service (WimBiz), the United States, White House Initiative – Academy for Women Entrepreneurs (AWE), and FirstBank Women Network.

In her new position, Folasade will be responsible for driving Mastercard’s strategic initiatives, strengthening partnerships with key stakeholders, and advancing the company’s mission of fostering a more connected and inclusive digital economy in West Africa.

Mark Elliott highlighted Mastercard’s unwavering commitment to excellence, innovative solutions, partnerships, and initiatives that have consistently set industry standards in financial inclusion, economic empowerment, digital transformation, and innovation. Folasade expressed her deep honor in taking on this role and eagerly looks forward to collaborating with the exceptional teams at Mastercard, as well as its customers, clients, and partners, to shape the future of payments, drive digital transformation, and promote inclusion.

Folasade Femi-Lawal, the newly appointed Country Manager for West Africa, expressed her enthusiasm for supporting the Nigerian government’s agenda in developing a robust, inclusive, and secure digital economy. She also expressed her eagerness to enhance their presence and provide exceptional value to clients and customers.

Folasade has received numerous accolades, including the Outstanding Women in Management award from the United Nations Association in Nigeria and being recognized as one of the Top 50 Women in Management Africa by Women in Management Africa. She has also served as the Vice Chairman of the Executive Committee of the Committee of eBusiness Industry Heads (CEBIH) and is a member of the Forbes Business Development Council. In addition to her professional achievements, Folasade enjoys singing, writing, and spending quality time with her family.

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