Kola Aina joins EFInA board

Enhancing Financial Innovation & Access (EFInA) Limited has announced the appointment of Kola Aina, founding Partner and General Partner of Ventures Platform, Africa’s leading seed-stage venture capital firm, to its board of directors.

EFInA is a financial sector development organisation committed to promoting financial inclusion in Nigeria, with the vision of becoming the leader in facilitating an all-inclusive, growth-promoting financial system.

New board member, Kola Aina has been instrumental in advancing financial inclusion across Nigeria and Africa. His venture capital firm’s investments in fintech companies, such as PiggyVest, have provided financial services to over five million underserved individuals, contributing to a 13.5 per cent increase in financial inclusion in Nigeria.

In addition to financial inclusion, Aina and his team at Ventures Platform foster entrepreneurship, create jobs, optimise supply chains, and empower founders to develop market-creating innovations that address Africa’s complex challenges while accelerating digital transformation across the continent’s startup ecosystem.

Commenting on Aina’s pivotal role in the enhancement of financial innovation and access in the Nigeria tech ecosystem, Dr. Agnes Olatokunbo Martins, former Director at the Central Bank of Nigeria, and Chairman of the Board, said that Aina’s venture capital firm – Ventures Platform strategically invests in fintech innovations that can deepen financial inclusion across the continent and his appointment to the board is pleasant and strategically beneficial decision that the African financial sector will forever be grateful for.

On his appointment, Aina said: “I am thrilled to join the EFInA board. EFInA is a critical market enabler that has been a key driver of financial inclusion and a champion of the unbanked.

“I look forward to working closely with my fellow board members and contributing to the achievement of our goal in Nigeria and across Africa. I remain committed to our collective ambition of promoting an inclusive financial sector that serves the excluded and underserved in Africa.”

A significant portion of Aina’s venture fund (37.5%) is currently dedicated to fintech companies, aiming to increase access to financial services, credit, and digital banking solutions for underserved populations. Through these investments, Aina and his team at Ventures Platform are bridging the financial inclusion gap and reducing inequalities.

Portfolio companies like PiggyVest, Moni, Traction Apps, and Shekel Mobility, currently backed by Ventures Platform, serve over 4.5 million users, providing increased access to savings accounts, capital, credit histories, and financial management tools.

Kola Aina joins other distinguished EFInA board members, including Dr. Agnes Olatokunbo Martins, former Director at the Central Bank of Nigeria; Olu Akanmu, former President and Co-CEO of OPay-Nigeria; Professor Janice Olawoye, Professor of Rural Sociology, University of Ibadan; and Saude Amina Atoyebi, former Deputy Chief of Staff (Administration) in Kaduna State government.