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Behind RemX, one of the most revolutionary ideas promoting B2B transactions in Pan Africa, is Eghosa Nehikhare.
Eghosa Nehikhare studied at the University of Durham, United Kingdom where he received his Bachelor of Science in Health and Human Sciences Honorary Degree in 2013. He also attended the Oxford Fintech Programme at the University of Oxford, United Kingdom in 2019. He has been a part of the success stories of many industries in Nigeria, Kenya and other African countries, including Africa Courier Express (ACE) and Venture Garden Group.
In 2012, Eghosa Nehikhare volunteered for a Community Development Project in Sri Lanka after which he became the Business Development and Community Engagement Associate with Africa Courier Express (ACE) in 2015. During his service between January to May of 2015, Eghosa Nehikhare was the mastermind behind several notable achievements at ACE, some of which included the following among others:
- Pioneering the Chicken Republic online food delivery service from inception till its expansion across Lagos State.
- Increasing the firm’s revenue by 1500% in less than 6 months of service.
- Designed a transparent system to monitor the performance of the eStores in real time
By May 2015, at the end of his five month service, Eghosa Nehikhare became the Head of eCommerce of ACE. While being the Head of eCommerce, he also doubled as Manager of eServices, taking this position in August 2015. As the Manager of eServices at ACE, Eghosa Nehikhare contributed to major developments some of which include:
- Developing the business to generate the highest revenue in the company in the first year of operation.
- Conducting sales, marketing, and operational performance analysis to monitor the unit economics, reduce operational cost and increase sales.
- Managing a team of over fifty staff.
- Expanding the delivery service nationwide.
By January 2016, Eghosa Nehikhare left both positions as Head of eCommerce and Manager of eServices at ACE and ventured into Venture Garden Group by February of the same year.
At Venture Garden Group (VGG), Eghosa Nehikhare was the Vice President of Business Development from February 2016 to April 2017. He then became the Head of Business Development from April to October of the same year. After which he immediately took the position of the General Manager of VigiPay, a payment and remittance subsidiary company of the Venture Garden Group.
As the pioneer General Manager of VigiPay, Eghosa Nehikhare built a team, product, and clientele. He was responsible for implementing the vision and roadmap strategies for the company and was able to deliver an annual revenue growth of 1000%. He served his tenure from October 2017 to March 2021 as the General Manager of VigiPay.
Eghosa Nehikhare now works full time as the CEO and Managing Director of Multigate, a company he co-founded. He took this position in March 2021 immediately after leaving VigiPay.
While working at African Courier Express (ACE), Eghosa Nehikhare conceived a revolutionary idea that is now helping businesses who do business across Africa. ACE experienced challenges collecting payment in other African currencies and remitting Naira to Nigerian merchants whose goods were being sold. As a natural problem solver and leader, Eghosa Nehikhare thought of a way to combat this challenge as many other eCommerce firms were experiencing this too.
He finally left ACE and joined the Venture Garden Group (VGG), which was co-founded by Olubunmi Akinyemiju and Olufemi Olukunmi Demuren. The two Nigerian FinTech tycoons are also major shareholders and investment partners at RemX Limited, Here, his idea was revalidated and with the backing of VGG was the birth of RemX Capital Ltd, where he is the director.
RemX is a multi-currency payment processing start-up that was born out of the cross border currency challenges experienced by companies operating in different African markets. Since its conception in 2020, RemX has birthed other companies like OIT Africa and Avalon Offshore Logistics, and penetrated the Nigerian FinTech industry and expanded to Kenya. Through its Kenya expansion, RemX has broken into East Africa enhancing the abilities of corporates and fintechs in the region to meet their cross border settlement obligations with ease. Furthermore, company successfully processed over $221m in just the first quarter of 2022.
RemX is a unique company serving B2B clients and tackling the illiquid nature of African currencies to ensure that transactions within Africa are swift and pan-African companies are better able to build their businesses.
At Venture Garden Group, Eghosa Nehikhare met forward-thinking executives Demuren Olubukunmi Olufemi. and Akinyemiju Olubunmi A., who are suspected to have been largely linked to the growth and success of RemX. Eghosa has found massive help in their mentorship thereby bringing his innovative idea to life. There’s obviously much more in store for this entrepreneur. Eghosa’s passion and work in revolutionizing Africa’s FinTech sector has only just begun.