To Celebrate the 20 reliable and value driven business leaders of Automated Payment gateway platform and card processing companies driving Nigerians economic growth, Chioma Kachi Ewelike sat with the professional par excellence in person of Nonso Okpala, Group Managing Director of VFD Group Plc, to discuss his journey in becoming a business icon.

Question: What inspired you to found VFD Group and what is your investment philosophy, especially as regards your decision to start VBank?

Response: I was motivated to see how brilliant ideas that can potentially become unicorns either never start or fail at the early stage. I saw how lack of governance, weak leadership and inability to envision the future continue to limit potentially great companies. So, I started the journey with a strong firepower andthe ultimatemission of diligently executing on the vision of revolutionizing every segment of the market we choose.

If I take a leap to your question on VBank. The gaps in the industry are apparent, so, we set out to leverage our local knowledge and diligent execution to make a difference that can become the benchmark. Interestingly, just as we were about to launch, COVID-19 struck and the easiest thing at the time was to roll back the plan because of the uncertainty. However, for us, it was a divine opportunity, because our strategy is a proof of concept of how digitization can deepen financial inclusion and redefine retail banking at a scale and pace never seen before. This futuristic approach is fundamental to our investment philosophy.

Question: What sets VFD apart from other investment companies?

Response: Our investment philosophy and execution make the difference. We have an ecosystem approach. We integrate every business in our ecosystem, harnessing synergies and institutionalizing governance. We place strong premium on people and technology. Again, we have a fairly long-term horizon, and this affords us the opportunity to focus on sustainable value creation without missing the short-term milestones.

Question: As a business leader, with dozens of operating companies within your portfolio, what keeps you awake and perhaps what do you consider the most challenging issues?

Response: Macroeconomic uncertainties, including policy and regulatory changes, is the nightmare that keeps me awake. Corporate planning is fundamental and the confidence to invest in the future of the economy and business remains one of the anchors for our proprietary strategy. So, whilst we have an agile strategy that ensures we proactively adapt to the changing market environment, having a stable operating environment and consistent policy help to accelerate business growth.

Question: As a visionary leader, what excites you about Nigeria and if you were not a Nigerian, would you still have invested in this country?

Response: I do not invest in Nigeria because I am a Nigerian, rather our capital allocation is purely driven by our conviction of where we can generate alpha returns for our shareholders. Our dominant investment exposure to Nigeria is anchored on our conviction about the immense untapped opportunities in the country. We see lots of challenges in Nigeria and underneath those challenges lie opportunities. We reckon the risks and take measures to mitigate them.

Question: Your company recently launched N50.7Billon Rights Issue. How do you view this personally?

Response: It’s a validation of our vision and it reflects the confidence investors have in our capacity to deliver superior and sustainable returns over the long term. We started this business with N2.5million and today, we are raising over N50billion through a Rights Issue program. We have organically grown our balance sheet to over N300 billion, and this additional capital would enhance our growth. Based on preliminary report, we have met relevant statutory requirements for success. The Securities and Exchange Commission has also approved an extension to the Acceptance Period; hence the Rights Issue would remain open till 26 December 2025 to allow full participation of all interested investors.

Question: Beyond business growth, what drives VFD’s approach towards social impact and overall corporate social responsibility, as I see you are a big fan of supporting the community.

Response: Our philosophy is to be the catalyst for positive change. This is why we support budding entrepreneurs and innovators with capital and governance structure that they need to succeed. We continuously seek sustainable ways to empower people and communities. We are passionate about education, health and gender equality, as we believe these are important ingredients for economic empowerment and social justice.