Meet Abioye Oyetunji: Transforming Africa’s Financial Landscape

Abioye Oyetunji, a visionary leader in the fintech industry, is the driving force behind FXKudi, a company revolutionizing cross-border money transfers across Africa. Recognized in the prestigious 2024 Forbes Africa 30 Under 30 list, Oyetunji’s innovative approach to remittance services and his commitment to digitizing Africa’s informal money transfer sector have earned him widespread acclaim.

Early Life and Education

Born and raised in Nigeria, Abioye Oyetunji displayed a keen interest in technology and problem-solving from a young age. He pursued his higher education at the Accra Institute of Technology in Ghana, where he graduated with first-class honors in Information Technology in 2020. His academic journey didn’t stop there; he went on to earn a Master’s degree in Computer Software Engineering from Innopolis University in 2022.

The Genesis of FXKudi

Oyetunji’s journey into fintech began in 2015 while still a student at the Accra Institute of Technology. Witnessing the challenges foreign students faced with currency conversion between the Naira and Cedi, he initiated a manual remittance service on campus. The service quickly gained popularity, transforming from a modest start-up with 2,000 Ghana Cedis into a recognized service provider.

Realizing the broader potential of his initiative, Oyetunji founded FXKudi in February 2020. His goal was clear: to digitize cross-border money transfers and make them more accessible and reliable for users across Africa. Under his leadership, FXKudi transitioned from manual remittance methods to a fully digitized platform, streamlining services and significantly improving user experience.

Achievements and Impact

Despite facing financial constraints, Oyetunji’s strategic partnerships and innovative team-building approaches propelled FXKudi’s growth. The company achieved a revenue margin of over 10,000 dollars in its first month, a testament to its rapidly increasing demand and effectiveness.

FXKudi’s mission extends beyond business profitability. The company focuses on democratizing remittance services by offering zero-fee transfers, particularly targeting the informal sector, which accounts for 60% of money transfers across Africa. This commitment aligns with the Sustainable Development Goals of promoting family remittances and fostering financial inclusion.

Under Oyetunji’s guidance, FXKudi has grown to employ a team of 15 direct staff and 1,000 agents, serving over 16,000 users. His entrepreneurial spirit and impact on financial inclusion earned him the title of “AFRICA YOUNG HERO OF THE YEAR” in December 2021. Additionally, FXKudi was named one of the top 50 fintech companies championing financial inclusion in Africa by VISA.

Vision for the Future

Looking ahead, Oyetunji envisions FXKudi expanding its presence to twenty-five African countries within the next five years. He aims to create direct employment opportunities for over 10,000 people and indirect jobs for 500,000 others. His dedication to promoting financial inclusion continues to drive FXKudi’s mission and operations.

Advisory Roles and Recognition

Beyond FXKudi, Oyetunji is an advisor to several startups across Africa, further solidifying his role as a visionary leader in the fintech industry. His inclusion in the Forbes 30 Under 30 Africa Class of 2024 is a testament to his vision, innovation, and dedication to transforming Africa’s financial landscape.

Abioye Oyetunji’s journey from a student-initiated remittance service to leading a pioneering fintech company exemplifies the power of innovation and perseverance. His story inspires aspiring entrepreneurs across Africa and beyond, highlighting the profound impact of technology in solving real-world problems and promoting financial inclusion.