Drawing from his own journey, this inspiring man emphasizes the importance of focusing on learning, skill development, and self-mastery at the onset of one’s career—becoming the best version of oneself. This approach, he explains, ensures that when the opportunity for leadership arises, one is not only equipped with expertise but also with the ability to lead by example, solve problems, and drive results, thereby inspiring and motivating others. Introducing to you, Ever Obi, the Managing Director of Rank Capital Limited (Moni). “I believe that, for young professionals, priority should never be placed on pursuing business leadership, but rather on preparing for it,” he asserts.
Guided by this philosophy, Ever’s journey in the financial services sector has been marked by a relentless pursuit of knowledge and experience. Starting with a background in risk management, he furthered his expertise with a master’s degree, an MBA, and the Chartered Risk Manager designation. His early career at Polaris, Zenith, and Access Bank, three of Africa’s largest banks, provided him with invaluable hands-on experience in areas such as risk analysis, credit review, and risk modelling. These formative years were spent deliberately immersing himself in learning and problem-solving, driven by a self-motivated desire to grow.
In 2017, Ever’s journey into business leadership began when Zedvance headhunted him to structure and head its risk management department. This was the moment to apply all the lessons and experiences gained from working in major African banks. His exceptional performance led to his appointment as Managing Director/CEO in 2020, where he successfully developed and implemented strategy, drove teams and business performance and led the company to groundbreaking achievements. Today, he continues to lead the charge at Rank Capital (Moni), revolutionizing community-based finance and driving financial inclusion among MSMEs in Africa.
Join us for an exclusive opportunity to learn from Ever Obi, a trailblazer revolutionizing the financial services landscape across Africa! His innovative approach, grounded in self-mastery and strategic planning, has empowered countless individuals and communities.
In this unique conversation, Ever will share his insights on ethical leadership, community-based finance, and the importance of skill development. Don’t miss this chance to gain valuable perspectives from one of Africa’s most esteemed leaders.
Key Lessons that Shaped Ever’s Leadership
What happens when textbook leadership strategies collide with the realities of the business world? For Ever, this clash was a turning point in his journey as a leader. Early on, he encountered concepts like delegation and autonomy, both widely regarded as essential for effective leadership. These ideas are crucial, he notes, as they allow leaders to focus on big-picture strategies while empowering employees to grow. However, Ever’s real-world experiences have taught him leadership often strays from the theoretical path. “But I have realized that experiential learning associated with leadership is often different from what the theory says. A leader should not be too hands-off,” he reflects. Ever clarifies that this does not mean getting bogged down in the puddle of micromanagement. He underscores that it is always about striking a balance between extremes.
Defining Innovation in Leadership: An Approach and Application
Leadership can often be compared to a finely tuned instrument, requiring both skill and sensitivity to produce harmony. Ever describes it as more of an art than a science, stressing the importance of emotional intelligence in understanding and appreciating individual differences to achieve common goals. He notes that while laissez-faire leadership can be effective for some employees, others may need more guidance. According to Ever, an innovative leader is someone who adapts to these needs and fosters an environment that encourages creativity. He underscores, “The future belongs to businesses that are able to predict the direction of their industry and model current business processes to accommodate inevitable changes.” He feels that these are the businesses that will remain relevant in the long term.
Ever-lasting Essence of Effective Leadership
In leadership, the essential qualities for success are not elusive but relatively straightforward and achievable, cultivated through deliberate effort and practice. Ever underscores that a leader must master effective communication, ensuring the organization’s vision and goals are clearly understood and free from ambiguity. This includes active listening, resisting the urge to become a dictator in decision-making, and viewing team members as distractions. “True leadership is about having the patience and professional maturity to constantly see people as opportunities and not as problems,” asserts Ever. He likens a leader to a mentor whose role is to recognize and nurture the strengths of their team while addressing their weaknesses, stimulating their growth and confidence. By setting aside ego and focusing on empowering others, leaders not only elevate their teams but also enhance their own leadership capabilities.
The Ripple Effect of His Groundbreaking Work
Every success story is marked by pivotal moments where visionary leadership leaves a lasting impact. Ever exemplifies this with his transformative work at Zedvance, where he led a groundbreaking initiative that redefined financial services in the non-bank lending sector. His leadership drove the development and implementation of innovative digital products and channels, positioning Zedvance as a leader in payroll lending. A standout achievement was the creation of a revolutionary app designed to streamline the distribution of mass-market products. This app, equipped with a proprietary credit-decisioning engine, enabled the rapid processing and disbursement of nano loans within minutes while offering users transaction monitoring capabilities. These advancements spurred extraordinary growth, with annual disbursements soaring by over 200% in three years and exceeding $90 million within 18 months.
The success of these innovations contributed to Zedcrest Capital, Zedvance’s parent company, being named the fifth fastest-growing company in Africa by the Financial Times in 2022.
Continuing the Legacy at Rank Capital
Ever’s proven track record of innovation at Zedvance has seamlessly translated to his role at Rank Capital (Moni). With a focus on community-based finance, he’s leveraging his expertise to drive financial inclusion among African MSMEs. By combining cutting-edge technology and exceptional customer service, Ever and his team are committed to revolutionizing lending in Africa and closing the credit gap for small businesses. The insights gained from his leadership at Zedvance have been instrumental in setting new standards for financial services in Africa.
Empowering Teams for Innovation and Creativity at Rank Capital
“The culture of an organization is determined by the leader,” Ever asserts. When asked about fostering a culture of creativity and innovation within his team, he elaborates, “I love to create an environment where people are free to think, free to speak their mind; an environment where people are encouraged and rewarded not just to believe that they hold value but also to be willing and able to contribute accordingly.”
Ever is a leader who doesn’t just talk the talk but walks the walk of innovation. No wonder he’s been named one of “The 10 Most Innovative Business Leaders Making a Difference in 2024.” His success mantra? This industry ace lights a fire under his team by listening, empowering, and inspiring them to create. By involving his managers in decision-making and valuing their ideas, Ever develops a culture where innovation isn’t just a buzzword; it’s a way of life.
The Balancing Act of Leadership
In the fast-paced business world, leadership requires a delicate balance between active involvement and keen observation. As a seasoned leader, Ever has faced countless challenges that demand a deep understanding of both sides of this equation. He emphasizes the importance of striking a balance between empowering employees and maintaining oversight. While trust is essential, he recognizes the inherent risks involved. Ever’s hands-on approach provides support and guidance through regular updates and reports. He fosters diverse and thoughtful decision-making processes to prevent groupthink. As he often says, “A leader is a participant, but must also wear the shoe of an observer, having the required sensitive insight needed to identify and control potential risks.”
This astute Managing Director prioritizes defining and communicating the organization’s risk appetite when making business decisions. He favors a moderate approach, where only well-understood transactions with manageable risks are pursued. Ever firmly believes employees should internalize and apply this risk appetite to their daily work.
A Pivotal Response to Unprecedented Challenges
The year 2020, a black swan event marked by the unforeseen COVID-19 pandemic, presented a formidable test for businesses worldwide. While competitors were compelled to halt operations temporarily, Ever’s forward-thinking approach and early embrace of digital channels ensured seamless customer service throughout the nationwide lockdown.
Capitalizing on their adaptability during the pandemic, Ever and Zedvance reaffirmed their steadfast commitment to corporate social responsibility. They expeditiously activated their disaster recovery plan, guaranteeing the continued accessibility of their channels amidst the challenges. Acclimating to a remote workforce and the economic burden on clients necessitated regular reassessments and modifications of their risk management strategies and transaction restructuring.
Beyond their business endeavors, they actively championed their communities. Ever and his team distributed food packages and necessities to disadvantaged residents in inner-city slums. In response to the COVID-19 hotspot in Kano State, this visionary leader personally led a team from Lagos to deliver ventilators and medical supplies by road, exemplifying their unwavering commitment to both operational excellence and social impact.
These endeavors culminated in well-earned recognition. Zedvance was honored with the prestigious Best Automated Loan Origination and Processing Company of the Year award at the Business Day Banking and Other Financial Institutions (BAFI) Awards.
Balancing Short-term and Long-term in Leadership
When we ask how he balances short-term objectives with long-term vision when leading projects, Ever shares that he often spends time documenting a strategic intent that sees into the future. For him, this document acts like a telescope highlighting the business’s long-term aspirations. His job as a leader is not just to develop this but also to ensure he achieves the cascade effect among employees. Short-term objectives and projects derive from the strategic intent, helping people work with the big picture in mind. This way, they appreciate the little tasks better. It also helps them to avoid getting complacent, knowing that as they celebrate the achievement of short-term objectives, there is still a whole mountain to climb.
Advice for Aspiring Business Leaders
Effective leaders understand that their role extends beyond guiding teams; they shape the next generation of industry trailblazers. By sharing their insights and experiences, they provide a roadmap for aspiring leaders, helping them navigate their journey and prepare for future challenges. Ever exemplifies this mentorship through his practical advice and unwavering commitment to personal and professional growth.
This experienced director underscores the importance of building competence and mastering one’s field. He advises aspiring business leaders to immerse themselves in learning and keenly observing their surroundings. “Appreciate all your experiences and always find the positives in them,” he suggests. According to Ever, effective listening is crucial; he encourages leaders to listen with patience and understanding, not merely to get their points across. He also stresses the value of continuous learning, urging future leaders to read important books, pursue relevant courses, and satisfy their curiosity. “Let your curiosities keep you awake,” he advises. Ever’s approach is to apply learned concepts in practical scenarios, solve problems, and prepare for leadership roles proactively to avoid being unprepared when stepping into them and finding the shoes too big.
