Remita, the payment technology platform developed by SystemSpecs, is set to chart a bold new course with its expansion into African markets. The company, which started as a payroll feature, has evolved into a robust ecosystem that processes over ₦60 trillion annually and now stands on the cusp of redefining the continent’s fintech landscape.
This transformative journey will be the focus of the forthcoming edition of eGovernance Nigeria Magazine, a flagship publication of Digital Transformation Media Limited (DTML). The issue will feature an exclusive interview with Deremi Atanda, managing director/CEO of Remita Payment Services Limited, who provides an in-depth look into the company’s rise and its future ambitions.
Mr Atanda recounts Remita’s journey from its origins as a payroll tool to becoming a standalone fintech powerhouse. “What many people know today as Remita started as a feature within our HR/payroll application,” he reveals. The name ‘Remita’ stems from ‘remittance,’ reflecting its core mission of facilitating seamless financial transactions.
Today, Remita operates as a comprehensive ecosystem of rails, products, and services, handling diverse payment needs across Nigeria. Its contributions include pioneering Nigeria’s first account-to-account switch and supporting the Federal Government’s Treasury Single Account (TSA) initiative—a defining moment that underscores its commitment to innovation and governance.
Looking ahead, Remita is poised for a vibrant Pan-African expansion, a move Atanda describes as a natural next step. “Typically, every year we process in excess of maybe ₦60 trillion in transactions in Nigerian Naira. And this can only grow as we think of a vibrant Pan-African expansion,” he says.
This ambitious vision aligns with the core mission of eGovernance Nigeria Magazine: to highlight homegrown innovations that solve local challenges and have the potential to transform global markets. Shina Badaru, chairman of DTML, emphasises the significance of showcasing such stories. “Remita’s success highlights the critical role of indigenous technology solutions in redefining Africa’s digital economy,” Badaru notes.
From its early days of narrowly missing a bid to manage pension payments under the PenCom Act, to its reinvention as a standalone platform, Remita exemplifies the resilience of Nigerian entrepreneurship. It now holds a Tier 1 licence from the Central Bank of Nigeria and employs over 300 Nigerians.
Mr Badaru continues, “This feature not only celebrates Remita’s evolution but also signals a pivotal shift in the narrative of Nigerian and African technology—from survival to scale, from local impact to continental transformation.”
As Remita prepares to extend its impact across Africa, its story serves as a beacon of possibility for indigenous technology in transforming markets and fostering financial inclusion. The upcoming issue of eGovernance Nigeria Magazine promises to provide an engaging and informative look at this transformative journey.
Readers can look forward to exploring how Remita’s groundbreaking innovations are paving the way for a more inclusive and interconnected digital economy across Africa.
