Folahanmi Solanke

Nigerian tech innovator who pioneered mobile banking solutions for Africa's unbanked populations

Folahanmi Solanke (b. 1975) is a Nigerian entrepreneur whose mobile payment platform Paga revolutionized financial inclusion across West Africa. Launching in 2012, his company created Africa's first licensed mobile wallet system accessible via basic feature phones, enabling over 10 million users to send money, pay bills, and access microloans. Solanke's vision addressed the continent's 70% unbanked population through technology that requires no smartphone or internet connection.

Before founding Paga, Solanke worked in telecom for MTN Nigeria, where he identified gaps in financial services for rural communities. His 2008 white paper Mobile Money for the Masses outlined a system architecture that became industry standard. The platform's success led to partnerships with Mastercard and the World Bank, expanding into Kenya and Ghana.

Solanke's 2015 TED Talk How Mobile Money is Transforming Africa (available on TED.com) highlighted Paga's impact: reducing cash transaction costs by 80% and creating 50,000+ informal jobs through agent networks. His work earned him the 2020 African Business Leader of the Year award, cementing his legacy as a fintech pioneer.