Remita, Nigeria’s leading financial technology platform, is preparing to expand its services across Africa following an impressive yearly transaction volume exceeding N60 trillion. Originally developed as a payroll feature by SystemSpecs, Remita has evolved into a powerful financial ecosystem, underscoring the impact of indigenous innovation on the global stage.
Speaking on the company’s journey and future plans, Remita’s Managing Director and CEO revealed that the platform has grown into a comprehensive suite of financial products and services serving diverse customer needs. He noted that Remita’s yearly transaction volume has consistently surpassed N60 trillion in Nigerian Naira, a number expected to rise as the company embarks on its Pan-African expansion.
He explained that Remita began as a simple salary payment feature embedded in an HR/payroll application. The goal was straightforward—help employers remit salaries with ease. This functionality eventually grew into a full-fledged platform, giving birth to what is now known as Remita. Even the name reflects this origin, drawn from the word “remittance,” with a single ‘T’ removed. The company’s logo, marked by three ascending dots, symbolizes this transformation and growth.
Reflecting on Remita’s early struggles, he recounted that the platform was first presented as a standalone product during a bid for a contract with the National Pension Commission (PenCom) in 2004. Despite building the end-to-end pension solution in under two weeks to align with the newly enacted PenCom Act, the company lost that bid. Nonetheless, he affirmed that the vision that guided them remains strong and relevant today.
As Remita looks beyond Nigeria, its leadership is confident that the combination of innovation, experience, and a deep understanding of Africa’s financial ecosystem positions the company well for continental growth.
