Stephen Oluwatobi did not arrive at the chief operating officer role by chance. The path was shaped by a commitment to learning and studying how complex organisations actually run.
Before stepping fully into the position at Kora in 2023, he had already built a foundation that blended theory and practice, earning a doctorate at Covenant University, teaching, and launching the student accelerator, Hebron Startup Lab. Along the way, he paid close attention to how seasoned operators approached their craft, a discipline he considers essential for anyone aspiring to step into the COO role.
“Find a COO you respect and understudy them. I didn’t just take on this role; I identified COOs across the world and studied them,” he shares.
That orientation still defines how Oluwatobi thinks about the job today. In his view, the COO role does not reward static expertise. It demands a mindset that evolves as quickly as the market it serves, especially in fintech, where the ground is constantly shifting.
Building an operating system for growth
That mindset has become essential in a company like Kora. Founded in 2017 in Nigeria, the fintech has expanded into multiple African markets, offering payment APIs that enable businesses to accept and process transactions through services like card issuance, settlement, payment links, and identity solutions.
Its footprint now stretches across more than six African countries, including Ghana, Kenya, Tanzania, and South Africa, with further expansion underway. Growth at that scale, he notes, requires a level of operational complexity that cannot be managed by instinct alone. It requires systems, discipline, and an ability to adapt in real time.
Oluwatobi stepped into the COO role in November 2023 and assumed it fully by March the following year, with a mandate to oversee operations and drive expansion. However, his involvement with Kora predates that transition.
Having known the company’s CEO, Dickson Nsofor, for over a decade before joining, he became more deeply engaged in 2023, first helping to shape the company’s approach to artificial intelligence and establish guardrails around its use.
Data meets judgement
At the core of his operating philosophy is a commitment to data-informed decision-making. Within Kora, the data team sits inside the operations function, a choice that ensures insights are closely tied to execution. Each week begins with conversations across teams, where qualitative input from team leads is combined with quantitative analysis to guide priorities.
Victoria Fakiya – Senior Writer
Techpoint Digest
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“The best way to make decisions is to be data-driven,” Oluwatobi says, framing data as a foundation for action.
Even so, he does not treat data as infallible. In many of the markets where Kora operates, information can be incomplete or inconsistent. That reality requires a second layer of judgement. Oluwatobi incorporates artificial intelligence into workflows to enhance analysis and improve efficiency, but he stops short of allowing it to dictate outcomes. Human intuition still plays a role, particularly in moments where the data does not fully capture what is happening on the ground.
That balance between structure and judgement becomes most apparent in how the company responds to operational challenges. In fintech, disruptions are inevitable. Systems depend on one another, and a failure in one area can quickly ripple outward. At Kora, the key variable is not whether issues occur but how quickly they are addressed.
“It’s easier to resolve issues at the early stages. The more it lingers, the more difficult it could become to resolve.”
Kora’s escalation framework reflects that principle. Issues are first handled at the team level. If they cannot be resolved quickly, they move up the chain, reaching Oluwatobi and, when necessary, other members of the executive team. The emphasis is on speed, ensuring that problems are contained before they escalate.
Turning problems into processes
Resolution is only the first step. Every incident is documented, capturing both the cause and the response. These reports feed into a broader system of standard operating procedures, creating a playbook for handling similar issues in the future. Over time, this process turns individual experiences into institutional knowledge.
As Kora expands into new markets, that knowledge has become a critical asset. It allows the company to replicate effective practices while avoiding past mistakes. New hires benefit from clearly defined processes, which reduce the learning curve and improve consistency across teams.
Maintaining oversight across such a broad operation requires visibility. Oluwatobi relies on weekly performance reviews and centralised dashboards to monitor activity across functions. These tools provide a snapshot of the organisation in motion, highlighting areas that require attention.
At the same time, he resists the temptation to manage every detail directly. Team leads are given the autonomy to run their units, with accountability built into the system. Oluwatobi stays connected not only to leadership but also to individual contributors, ensuring that communication flows in both directions.
The qualities he associates with a strong COO reflect that dual focus. Attention to detail is fundamental, he says, particularly in translating a CEO’s vision into actionable plans. Where the CEO defines direction, the COO works through the mechanics of execution, ensuring that strategy is grounded in reality.
Leadership extends beyond coordination into culture. At Kora, Oluwatobi helps reinforce the company’s internal values as it grows.
Continuous learning remains a constant thread for him. The fintech landscape evolves rapidly, shaped by new technologies, shifting regulations, and changing customer expectations. A COO must remain responsive to these changes and adjust approaches as needed.
The value of adaptability
Two areas, in particular, have tested that adaptability in his tenure. The first is regulation. Operating across multiple African markets requires navigating a patchwork of rules, often involving licenses obtained directly or through partnerships. The process can be complex, with varying levels of clarity and consistency.
Kora’s approach balances compliance with speed. Where regulations are well defined, the company adheres strictly to them. Where ambiguity exists, it continues to operate while aligning with global best practices and maintaining engagement with regulators. This allows the business to move forward without taking unnecessary risks.
The second challenge lies in technological interdependence. Fintech companies rely on external partners, and their performance is closely tied to the reliability of those partners. When systems fail, the impact can extend beyond a single organisation.
Oluwatobi approaches these situations with a dual focus. Issues must be resolved quickly to maintain service quality, but relationships with partners must also be preserved. Trust, once lost, can be difficult to rebuild, making communication as important as technical resolution.
Internally, the relationship between the CEO and COO provides a foundation for stability. At Kora, this relationship is defined by alignment and clarity of roles. The CEO sets the strategic direction, while the COO ensures that the organisation can execute effectively.
Part of that execution involves removing operational distractions, allowing the CEO to focus on long-term priorities. This division of responsibilities enables both roles to function at their highest level, creating a balance between vision and execution.
As Kora continues to scale, the challenge of building robust internal operations becomes more pronounced. Oluwatobi’s approach centres on creating systems that can support growth without becoming overly complex. This involves documenting processes, standardising workflows, and establishing structures that can be replicated across markets.
Each new challenge is treated as an opportunity to refine the system. Outcomes are documented, analysed, and incorporated into standard operating procedures. An operational resilience team supports this effort, focusing on performance and process optimisation.
The result is an organisation that becomes more efficient over time. For Oluwatobi, the role of COO remains inherently dynamic. It is shaped by the needs of the business, the realities of the market, and the capabilities of the team. What remains constant is the need to keep learning, adapting, and refining.
