Nigerian technology entrepreneur Onyeka Akumah has assumed leadership of a newly combined Canadian financial technology company following the merger of ByteX Financial and Cenne Financial Inc., marking another significant step in the growing global presence of Nigerian founders and technology executives.
The merger combines ByteX’s existing cross-border payments infrastructure with Cenne’s AI-native technology and market expertise to create a stronger financial platform connecting North America, India and Africa.
Onyeka Akumah, one of Africa’s leading technology entrepreneurs, will serve as Chief Executive Officer of ByteX Financial, leading the company’s next phase of international expansion from its Canadian headquarters.
With close to 20 years of experience building and scaling technology businesses across Africa, Akumah is the founder of Treepz, which he expanded to five countries with more than six million customers. He also previously founded RentSmallSmall and Farmcrowdy, while holding leadership positions at Jumia, Konga, Wakanow and Guaranty Trust Bank earlier in his career.
His experience building technology-driven businesses across multiple markets brings operational, growth and emerging-market expertise to ByteX as it expands its financial infrastructure across North America, India and Africa.
The combined business enters its new phase with significant existing scale. ByteX has processed more than CAD $3.6 billion in transactions since 2023 and currently operates at approximately CAD $1.2 billion in annualised transaction volume for customers across Canada, the United States and India.
The company now plans to leverage Cenne’s African and Caribbean business network to expand its operations across these corridors in 2027.
For Akumah, the merger represents more than a corporate transaction. He sees it as an opportunity to build infrastructure that connects markets that have historically received less attention from global financial technology companies.
“This is not simply about bringing two businesses together,” Akumah said. “It is about combining technology, experience and market understanding to build financial infrastructure that helps businesses move money and participate in trade across North America, India and Africa.”
A Canadian Merger with Global Ambitions
The combination of ByteX and Cenne brings together complementary areas of expertise.
Charles Sanda, Co-Founder and President of ByteX, brings nearly two decades of experience in corporate finance and capital markets. He has structured more than $20 billion in financing across North America and Sub-Saharan Africa. A former Managing Director at BMO, Sanda leads ByteX’s capital strategy, institutional partnerships and financial structuring.
Sayan Roy, Co-Founder and Chief Operating Officer of ByteX, brings more than 11 years of experience spanning engineering, product development and technology. He holds a master’s degree in electrical and computer engineering from Queen’s University and leads ByteX’s operating strategy, product execution and technology delivery.
Roy provides the engineering and product development infrastructure behind the company while managing its relationships with infrastructure partners. Sanda, who has extensive experience in Canadian banking and corporate finance, brings expertise in financial strategy, institutional relationships and international growth. He has also worked in the Nigerian banking industry for many years with Standard Chartered Bank.
Together, the leadership team combines technology, product development, finance and market expertise as ByteX prepares for its next phase of expansion.
“The most compelling businesses of the next decade will be those that understand local markets but are structured to compete globally,” Sanda said. “This merger brings together the technology, entrepreneurial execution and financial discipline needed to build a scalable international business.”
From Nigeria to the Global Fintech Stage
Akumah’s appointment as CEO places a Nigerian technology leader at the centre of a Canadian-headquartered fintech company with ambitions spanning multiple continents.
With a team of 18 across Canada and India, Akumah hopes to draw on his experience to help ByteX develop into a digital bank for North American businesses going global.
His career has been shaped by building technology businesses that address practical challenges faced by consumers and businesses in African markets. That experience now forms part of ByteX’s strategy as the company seeks to develop more products and infrastructure capable of serving businesses operating across international borders.
Rather than positioning Africa as a standalone market, ByteX intends to connect African businesses more directly with major global trade and payment corridors.
The strategy reflects a broader shift in African entrepreneurship, as founders from the continent increasingly build companies not only for local markets but also to compete globally and address infrastructure gaps affecting international commerce.
Building the Corridors Global Fintech Left Unbuilt
At the heart of ByteX’s strategy is a focus on international financial corridors that remain fragmented.
Businesses trading between emerging and developed markets often face slow settlement, expensive transfers and disconnected financial systems. ByteX believes there is an opportunity to build infrastructure that reduces these barriers.
“By bringing ByteX and Cenne together, we are creating a stronger foundation for growth,” Roy said. “Our goal is to build trusted financial infrastructure for businesses operating across borders and to expand into markets that have historically been underserved.”
“We are building the financial infrastructure for trade between North America, India and Africa, the corridors global fintech left unbuilt, then we become a digital bank for them,” Akumah said.
A Milestone for Nigerian Technology Leadership
For Nigeria’s technology ecosystem, Akumah’s leadership of the merged company represents another example of Nigerian founders moving into global leadership roles while drawing on experience developed within Africa’s fast-growing technology sector.
The merger combines an established Canadian fintech platform with African market knowledge and international financial expertise, creating a company rooted in multiple markets but focused on global trade.
Headquartered in Canada, led by a Nigerian technology entrepreneur and expanding across North America, India and Africa, ByteX is positioning itself to become a significant player in the next generation of cross-border financial infrastructure.
For Akumah, the objective is to build a company capable of competing internationally while addressing practical financial challenges for businesses operating between some of the world’s fastest-growing markets. He aims to build ByteX into a leading digital bank in North America.
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