Challenges are often the first step to most of the solutions we enjoy in our world today. Every great inventor encountered a problem and, in the process of finding a solution, stumbled on several great inventions which has made life easier for everyone. The story is no different for the founders of Hizo.Africa. We discuss the journey to building two fintech products, with one being a game-changing product for Nigerians travelling across Africa, the challenges and how they are deliberately debunking the myth of all successful fintechs being based in Lagos and many other details.
The Problem HIZO Solves
When Nigerian travellers face hurdles in spending their local currency abroad, HIZO Technology Limited steps in.
“Why can’t I Spend My Naira in Kenya For African travellers, accessing local currencies abroad is a nightmare. Nigerians visiting Ghana or Kenya, or any other African country, often struggle to convert naira, face high fees, or lose money through poor exchange rates. HIZO lets users spend their home currency seamlessly in six African countries—no cash conversions needed.
From Frustration to Innovation: A Personal Pain Point Sparks a Solution
The idea for HIZO came from the founder’s struggles while on a trip to an African country. Despite having naira in his account, he couldn’t spend freely. This frustration led to brainstorming sessions in Lagos in 2023, where the team mapped out a vision for borderless payments.
Building Blocks and Early Wins
By March 2024, HIZO went live. Despite regulatory hurdles and unstable payment processors, the team secured licenses (like CBN’s PSB) and partnered with reliable providers. Early adopters in Ghana and Kenya validated the product, leading to 2,500+ transactions and ₦220 million in deposits within months.HIZO’s fixed-fee model (varies by country) ensures transparency. For users, it means no more lost change or currency scams. For businesses like Glyde (Hizo Technology’s B2B payment processor), it complements a growing ecosystem.
In this exclusive chat, we go behind the scenes and meet the tech bro driving this team, which is set to revolutionise spending for Nigerians. We explore how Hizo CEO Mr Chiedu Victor and his team built two fintech solutions to simplify cross-border payments across Africa, all while challenging the myth that tech success only happens in Lagos.
Can you tell us about yourself and how you got into tech?
Absolutely. I’m Victor, CEO of HIZO Technology Limited. I attended Delta State Polytechnic, Ogwashi-uku, where I obtained a degree in Computer Science. My foray into tech first began with my fascination with the web. I had always been fascinated by the web and how it worked. However, I was more interested in the hardware parts until 2011/2012 when my brother Chuks introduced me to web and software development. This was really when my tech journey began properly.
Tell us about Hizo?
We’re a Canadian-registered fintech with African roots. Our mission? To simplify payments across Africa. With HIZO, travellers can spend their local currency in six African countries without swapping cash or worrying about exchange rates.
What pain points does HIZO address for African travellers?
Imagine being a Nigerian in Kenya with naira in your account but struggling to pay for an Uber ride. You either carry stacks of cash, lose money to bad exchange rates, or get shortchanged by vendors. HIZO lets you spend directly from your wallet—no physical cash is needed.
So it’s like a digital bridge between currencies?
Exactly. We connect local banks and payment systems so users can transact seamlessly. There will be no more hunting for Kenyan shillings or Ghanaian cedis.
How did HIZO start?
It began with personal frustration. In 2023, our co-founder Mr Ik was stuck in RWANDA with naira he couldn’t spend. He asked, “Why can’t I use my money here?” That sparked months of brainstorming in Lagos. By March 2024, we launched HIZO.
What hurdles did you face early on?
Payment processors! Finding reliable partners was tough. Regulations nearly stalled HIZO’s launch. Compliance with data protection (NDPR) and financial licenses took time. Finding stable payment partners was another battle—many providers required proof of legitimacy before integration. Some shut down mid-testing. Regulatory licenses like Nigeria’s CBN PSB approval also took time. They needed us to have some of our licenses, and gradually we began to get them. We got our SCCPC for Nigeria. We got NDPR for data protection rights. When the products are new, License sharing IMC, which is the International Monetary Union License, used to carry out transactions with customers. We also did the PSSP sharing agreement, we applied for the basic licenses we needed we got them.
But by February 2025, we secured stable providers in Ghana and Kenya. While actively building HIZO, we also built other products which launched in 2023 before HIZO. The product is Glyde. Glyde is currently very much active. Glyde is a full payment processor, what it does is it’s a B2B, B2B2C We onboard businesses and help these businesses receive payment from their customers We also help them disburse payment to their customers So, if you have a storefront and you need to collect money from your customers seamlessly, automatically, Glyde can do that for you And that’s very functional, Last year alone, Glide processed close to 90 billion transactions
Was funding a challenge in building Hizo?
Our major challenge, I would say, was just really the certification. And as a start-up, Certifications are good, but without funding, it would be difficult because these certifications cost money. If you set out, to have to have fair certifications before you launch a product, a lack of adequate funding could be a problem. Of course, funding was A problem because if we had gotten the funding we needed from the onset I think we would have done things a bit differently In many ways but it wasn’t like It wasn’t a big challenge for us Because the basic things, thr core things, the foundational things we needed to start up Hizo funding didn’t affect those things.
Why is your HQ in Asaba, not Lagos, as is the norm?
(Laughs) Everyone thinks tech only thrives in Lagos. We set out to break the myth that you could only do big things in tech from Lagos and wanted to prove that innovation isn’t location-bound. Surprisingly, regulators were more approachable when most of them found out we were applying from Asaba. Plus, costs are lower—rent, transportation, everything. There’s the belief that Everything happens in Lagos, and if you are not in Lagos, nothing is working for you, and we are trying to break the stereotype. This is why we had the confidence to spend so much money renting this office. We set out to prove a Point not just with this space as our base but also with the products we are building and what it can do. Because the products needs to sell itself so people can know that yes this product works and it’s coming from a place where It’s like the first to be this big from that region, The first from this region to make it to this level without all the hype coming from Lagos or other major cities.
Has being outside Lagos helped or hurt? How has it been so far?
I would say it’s been going well. we have enjoyed some benefits for doing this from our Asaba, for example, For glyde we had to apply for a PSSP license from the CBN, That’s the license That will enable us have direct execution with banks and other financial institutions and one of the main advantages We had was that we were not in Lagos Or Abuja We were outside of Lagos Because they were tired of only getting requests for licenses from Lagos or Abuja It was a big advantage for us cos they were like Wow you guys are coming from Delta state and nobody has even come from Delta state to ask for this. So whatever we needed, they were willing to help us as much as possible. So they pretty much encouraged us just because of the location.
The place people assumed was a disadvantage became an advantage. The truth is, we are pioneers here. When HIZO succeeds, it will inspire others to build locally. We’re already seeing curiosity from young founders in the Southeast and southern regions. By succeeding outside Lagos, HIZO inspires local founders. The goal? To make Asaba a tech hub and prove that innovation isn’t location-bound.
Would you encourage other startup founders to try your strategy?
While going off the beaten path has helped us, this does not necessarily mean that it will help the next person. Yes, it has helped us, but I cannot call it a strategy because someone else may replicate it, and it won’t work. But as much as this is not a proven strategy, I would encourage other tech founders to try to go off the beaten path.
How’s HIZO performing so far?
Since February 2025, we’ve processed 2,500+ transactions with ₦220 million in user deposits. We’re live in Ghana, Kenya, Zambia, Uganda, Tanzania, and South Africa. So, in terms of profit, from the inception, we had a means to generate revenue, and the core functional way to generate revenue for us is through transaction fees. This means that for every transaction, we get a fixed fee. So every user who signs up is informed upfront that we charge a specific fee per transaction. We show you how much we pay as a fee per transaction, however, this fee varies per country, considering it is also subject to what our provider gives to us.
What’s next?
We are expanding to Rwanda and Malawi and launching marketing campaigns in Ghana. And yes, we’re fundraising! We’re raising a $300k pre-seed round to scale faster.
What’s your advice to tech founders in the SS/SE region?
Start where you are. Lagos isn’t the only ecosystem. Build a solid foundation locally—test ideas, understand regulations, and grow organically. If we did it in Asaba, you can do it anywhere.
Final thoughts?
Africa’s payment challenges are solvable. With HIZO, we’re not just moving money—we’re connecting economies and empowering travellers. And to every founder: Your location isn’t a limit. HIZO isn’t just a payment tool—it’s a movement. By tackling cross-border friction and defying geographic stereotypes, Hizo Technology paves the way for a more connected Africa. For aspiring founders, the message is clear: Start local, think global.
Read Also: with-hizo-nigerians-can-now-spend-naira-in-6-african-countrie
