Oluwatobi Boshoro is the CEO of Renmoney, a FinTech lending company operating under a microfinance banking license in Lagos, Nigeria. Renmoney loans money to individuals and small businesses, a giant step towards inclusion for Nigeria’s more than 60 million financially excluded people.
She was drawn to tech by a drive to work with solutions that make life better for the average Nigerian, and hence, contribute to its economy.
Her biggest challenge has been how to get customers and potential partners to come on board Renmoney. A major highlight for Tobi has been the seamless way in which technology has revolutionized the payment system in Nigeria, and its consequent influence on financial inclusion. “Only a decade ago, there were only about half a million ATM cardholders. Today, we have over 40 million Nigerians with ATM cards,” she said.
She wants women to be represented in all situations but acknowledges that culture slows down progress. A lot of important decisions that affect women are still made without consulting women or having women in the room.
“The most important thing a woman can do is to recognize opportunities when they show up and create new opportunities where possible.”
She advises women looking to make an impact in tech to be more self-aware. “You need to know the skills you have and the ones you need to acquire. Understand the value of these skills and then seek innovative places where these skills are in demand and valued. Don’t be shy, keep knocking on doors – they open faster these days,” she told Ventures Africa.
The ability for women to multitask, pay attention to detail, bring people together and drive value are reasons why Boshoro believes women will occupy more important technology roles in the future.
And in that future, Boshoro believes consumer finance will be important, as it would be a driver for economic growth in Nigeria. With over 70 percent of the Nigerian workforce employed by SMEs, bridging the gap between business owners and access to funds using technology will boost Nigeria’s GDP in the future.