Businessman and former Minister of State for Mines and Steel Development, Dr. Uche Ogah, has shed light on the rationale behind his decision to venture into the financial technology sector with the establishment of Olivepay, a new digital payment platform.
Speaking to newsmen, Dr. Ogah explained that his investment in fintech is anchored on the need to deepen financial inclusion in Nigeria and provide secure, accessible, and efficient services for individuals and businesses alike.
According to him, a significant portion of Nigeria’s population, particularly those in rural and semi-urban communities, remain excluded from the formal financial system, a challenge he believes technology can effectively address.
“Technology is redefining commerce globally. Millions of Nigerians are still unable to access basic financial services, and this limits economic growth. Olivepay is designed to close that gap by offering simple, reliable, and inclusive solutions,” he stated.
Dr. Ogah further noted that Olivepay is conceived not merely as a payment application but as a comprehensive financial tool capable of supporting entrepreneurship, enhancing savings culture, and driving innovation in the digital economy.
He maintained that fintech solutions such as Olivepay are essential to advancing Nigeria’s transition towards a cashless society, stressing that robust technology-driven systems are critical for national development.
“Our vision is to create a platform that empowers people, supports businesses, and strengthens the financial ecosystem. That is why we have chosen to invest in fintech,” he added.
Analysts say Olivepay’s entry into the Nigerian market reflects the growing relevance of technology-driven financial services and underscores the need for sustained innovation to meet the demands of a rapidly evolving economy.
