WayaWaya, the Kenyan company building AI-powered financial services for banks and merchants, has appointed former Chase Bank Kenya executive Raj Singh as a non-executive director and board adviser.
The appointment comes as the startup intends to deepen relationships with financial institutions and merchants while expanding into new African and international markets. Singh will advise WayaWaya’s board and executive team on strategy, governance and commercial growth, the company said in a Thursday statement.
WayaWaya joins a growing list of African fintechs recruiting experienced banking executives as they scale into regulated financial services. In July, Nigerian fintech unicorn Moniepoint appointed former Branch Kenya chief executive Rose Muturi to lead its Kenyan business after acquiring Sumac Microfinance Bank. In April, Cellulant, a payments firm, hired former Xapo Bank executive Anthony Hernandez as chief operating officer to sharpen its expansion strategy.
“Raj joins us at an important point in WayaWaya’s growth journey. His banking, fintech and international experience will be invaluable as we move from innovation to scale,” said Teddy Ogallo, founder and chief executive officer of WayaWaya. “We look forward to working with him in shaping and executing our growth strategy, particularly in expanding our network of banking partners and merchants, strengthening strategic partnerships, and taking WayaWaya into new markets across Africa and beyond.”
As a board adviser, Singh will help shape WayaWaya’s long-term strategy, strengthen corporate governance, expand banking and merchant partnerships, and guide the company’s international expansion, the statement added.
Singh has spent more than two decades in banking and financial technology across Africa, Asia, Europe and the Middle East. He previously served as Group Chief Operating Officer and Director of Retail Banking at Chase Bank Kenya, where he led digital banking initiatives. Earlier in his career, he worked at First City Monument Bank (FCMB) in Nigeria, overseeing banking operations transformation, and spent more than five years at India’s ICICI Bank managing retail banking operations.
Singh also held advisory roles, working with financial institutions and fintechs on digital banking and artificial intelligence. He is currently managing director of Rova, a consulting firm, and serves on the boards of Finova360 and Finnafrica, fintech advisory firms. He also mentors startups through venture builder FasterCapital.
“I am delighted to join the Board at this important stage of the company’s journey and look forward to working with Teddy and the leadership team to strengthen strategic partnerships, accelerate commercial growth and support WayaWaya’s expansion across Africa and international markets,” said Singh.
The appointment follows a long-running dispute over claims that WayaWaya was acquired by Kenyan customer experience company Ajua in 2021. WayaWaya has maintained it remained independent, telling TechCabal that the relationship was a consultancy arrangement rather than an acquisition.
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