Fintech company Tangerine launches in Nigeria, targets other African countries

Following a stream of acquisitions in the financial services sector, fintech firm Tangerine has announced the launch of its group of fintech offerings and solutions in Nigeria. Tangerine has also indicated that it will continue to acquire or merge within the sector, as a strategy to speed up its expansion in the sector.

The offerings announced by Tangerine so far include Tangerine Life, Tangerine General, Tangerine Pensions, and Tangerine Money. The firm is also working actively on penetrating eight new markets in Africa.

During a press event held in the nation’s commercial center, Lagos, Tangerine executives, Dapo Akinsanya, Head Pensions; Livingstone Magorimbo, Head Life Insurance; and Ibitunde Balogun, the Head, Commercial at Tangerine Nigeria, announced the offerings for the first time.

Tangerine is entering the fintech sector in Nigeria at an immensely competitive time, particularly the Pension Fund sector, where the open RSA window has now made it possible for customers to switch PFAs. 

Commenting on the firm’s strategy as it launches, Dapo Akinsanya, said “In, under 2 years, we have been able to successfully acquire and rebrand several businesses, firmly establishing Tangerine. We have also made significant strides in repositioning our businesses in readiness for growth by assembling a strong, agile, and experienced team that aligns with our strategic thinking.”