018 Ladi Balogun| the fullest potential

LADI’S BIO

Ladi Balogun is one of the most accomplished business leaders in Africa. As he puts it: “My mission is to help ethical leaders build legacies that will advance us towards a highly skilled, healthy and prosperous Africa. I do this primarily through the tools of finance, sharing knowledge and providing access to supportive ecosystems.”

Ladi has led the transformation of a boutique merchant bank that employed less than 200 people, into what is now one of the largest financial services firms in Nigeria, hence Africa. It also happens to be one of the most profitable at the same time as being focused on inclusive finance and sustainable business building.

He is Chief Executive Officer of FCMB Group Plc a holding company which owns a number of operating companies including First City Monument Bank and has interests in banking, consumer finance, investment management and financial technology. He serves as Chairman of several of those entities and the group he leads employs over 8,000 people, 115,000 agents and serves about 12 million customers in multiple geographies across Africa and the United Kingdom. In the first half of 2023 (H1 2023) FCMB delivered: 148% growth in profit before tax of N38.2 billion ($48 million); revenues of N238.2 billion ($297 million) driven by a 52% increase in interest income and a 217% increase in non-interest income; customer deposit growth of 45.3% year-on-year to N2.38 trillion (~$ 3 billion); and AUM growth of 23.6% year-on-year to N910.3 billion ($1.1 billion).

He began his career in Deutsche Bank and Citibank and held various roles in commercial and investment banking focused on Europe and the United States. Ladi holds a Bachelors in Economics from the University of East Anglia in Norwich, England and an MBA from Harvard University.

“There is more promise than peril with AI in Africa”

“Technology enables us to be more efficient, profitable and inclusive”

EPISODE OUTLINE

(0:00) - Intro

(0:38) - Background

(01:47) - The early years; Nigeria-UK-US-Nigeria, entrepreneurship + finance

(03:53) - The Africa story is full of potential; purpose, growth, inclusivity, profits

(07:35) - Financial services transforming with technology; the future is now

(12:02) - AI views from a top leader in Africa; emerging markets full of promise

(17:09) - Outro

LADI RELATED LINKS

Discussing Earnings on CNBC

On People and Culture on Business Insider

Company results H1 2023

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