Opening a bank account in Nigeria can often be a slow and cumbersome process, requiring multiple visits to a branch and several days to complete. For many small business owners and entrepreneurs, this has meant limited access to essential financial services. Traditional banking systems, critics say, are frequently slow, expensive, and not tailored to the realities of running a business on the continent.
A recent report says the process of opening a bank account for a small business owner typically takes between 24 to 72 hours. This gap in financial inclusion is exactly what Lenco, a pan-African neobank, was created to address. At the center of this initiative is Impact Airelobhegbe, Co-founder and Chief Operating Officer, who has been instrumental in shaping the platform’s vision and operations.
A Team Built for African Businesses
Lenco was founded by a core team of four, each bringing complementary expertise. Andrew Airelobhegbe, CEO, drives strategic vision and fundraising. Godstime Asine leads engineering to ensure the platform is robust and scalable. Praise Osagie, CTO, focuses on technical innovation. Impact manages operations and customer experience. Together, they balance technical innovation with operational excellence, delivering a platform designed to meet the unique needs of African entrepreneurs.
Empowering the Unbanked
Lenco’s platform provides multi-user business accounts, corporate cards, expense management tools, and cross-border payments. For entrepreneurs operating in cash-heavy and fragmented markets, the neobank offers much-needed clarity and control over financial operations.
Impact explains, “Our goal is to give business owners the confidence to grow. If they can manage their money, track expenses, and process payments reliably, they can focus on what matters most: building their businesses.”
Looking Ahead.
Beyond providing banking services, Lenco aims to create a financial ecosystem that empowers entrepreneurs across Africa, offering tools to manage operations, access capital, and expand regionally.
Impact emphasizes, “We are building more than a bank; we are building a partner for entrepreneurs. Every feature, every tool we create, is designed to give them the freedom to focus on growth and impact.”
Lenco’s story illustrates how a combination of vision, empathy, and a complementary team can solve real-world problems. Under the leadership of Impact Airelobhegbe and his co-founders, the neobank is not only transforming business banking but also unlocking the potential of the unbanked, reshaping the African financial landscape one entrepreneur at a time.
See also: Three ways Artificial Intelligence (AI) tools can help drive efficiency for small businesses
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