Hydrogen CEO, Kemi Okusanya, says the company’s profit surge in the first half of 2025 is the result of strategic operational changes and a sharper focus on client-centric innovation.
Hydrogen, the fintech subsidiary of Access Holdings, posted a profit before tax of N966 million for the first half of 2025—a 306% increase from N238 million in the same period last year.
“The previous year was still one of the early stages of the business,” Okusanya said in an exclusive interview with Naijaonpoint on the sidelines of the Africa Retail Congress.
“We made deliberate changes to our backend operations and focused on understanding what our financial institution clients really needed. That clarity helped us grow.”
Hydrogen’s operating income rose to N4.1 billion in June 2025, up from N3.1 billion in June 2024, while operating expenses increased modestly by 9.5%, from N2.944 billion to N3.225 billion. The company’s performance reflects its expanding customer base and growing influence in Nigeria’s digital financial services sector.
Okusanya emphasized that while Nigeria’s fintech space is rich with innovation and talent, long-term success depends on pairing creativity with sound business fundamentals.
“We have a lot of brilliant and innovative minds in the fintech space, and that will continue,” she said. “But we also need to understand how business works and ensure sustainability. That’s what we’ve tried to do differently.”
She also highlighted the importance of aligning with investor expectations, particularly in an era where short-term sustainability is increasingly prioritized.
“You have to think about who is funding your business. If your investor is focused on near-term returns, you can’t afford to wait 20 years to break even. That perspective has shaped how we operate.”
On the competitive landscape between bank-affiliated and independent fintechs, Okusanya offered a balanced view.
“It’s too early to say it’s going to be an easy ride for bank fintechs,” she noted. “But if they get it right, they have a lot to benefit from. Banks have been in the financial space for decades—they’ve made mistakes we can learn from. That understanding of the Nigerian market is a real advantage.”
She believes that bank-backed fintechs, if strategically positioned, can leverage institutional knowledge and infrastructure to scale more sustainably.
Nigeria’s grey list exit: unlocking cross-border potential
With Nigeria recently removed from the Financial Action Task Force (FATF) grey list, Okusanya sees a new frontier emerging in cross-border payments and trade.
“It created a lot of concern when we were placed on the grey list,” she recalled. “Now, I expect to see more innovation and cross-border trade. It’s a space Hydrogen is already exploring.”
She pointed to the Africa Retail Congress as a signal of growing interest in global exports and digital commerce, noting that Hydrogen is actively positioning itself to capitalize on this momentum.
She pointed to the Africa Retail Congress as a signal of growing interest in global exports and digital commerce, noting that Hydrogen is actively positioning itself to capitalize on this momentum.
Looking ahead, Okusanya anticipates that 2026 will bring a wave of regulatory changes—but views them as opportunities rather than obstacles.
“Every policy comes with an opportunity,” she said. “Regulations solve problems, but they also reveal new ones—and that’s where innovation thrives.”
She said Hydrogen is already compliant with ISO 20022, the global messaging standard for financial transactions, and is using it as a springboard for product development.
“We’re not just ticking the compliance box. We’re asking: what products can we create from this?”
While Okusanya remained tight-lipped about specific product launches, she confirmed that Hydrogen is actively developing new solutions—particularly around interoperability across African payment systems.
“Interoperability is something I’ve always advocated for,” she said. “Different payment rails had different messaging formats. Now, with alignment, we can build solutions that make it easier for banks and payment customers to transact seamlessly.”
Hydrogen’s performance and forward-looking strategy underscore its growing influence in Nigeria’s fintech ecosystem, as it continues to blend innovation with operational discipline and global ambition.