Eric Jackson, co-founder and former CEO of Kenyan fintech startup Hisa, has officially stepped down from his role as Chief Technology Officer (CTO), less than two months after the company was acquired by Nigerian investment platform Risevest.
This unexpected exit raises questions about the integration process and the future of Hisa as it navigates new leadership dynamics under Risevest’s ownership.
Jackson’s Role in Hisa’s Success
Founded in 2020 by Jackson and Eric Asuma, Hisa quickly became a prominent player in Kenya’s fintech landscape. The platform democratized access to investment opportunities, offering users the ability to invest in local and international stock markets.
Under Jackson’s leadership, Hisa accomplished several milestones:
- Regulatory Approvals: Secured critical endorsements from the Capital Markets Authority of Kenya (CMA) and the Nairobi Securities Exchange (NSE), solidifying its credibility.
- User Growth: Expanded its user base significantly, filling a critical gap in Kenya’s investment ecosystem.
- Strategic Partnerships: Forged collaborations that propelled the company’s growth and positioned it as a market leader.
These achievements laid the groundwork for Hisa’s acquisition by Risevest in September 2024.
The Risevest Acquisition
SEE ALSO: Rise Acquires Hisa: Expanding Horizons in the African Fintech Space
The deal, approved by Kenya’s CMA, allowed Risevest to enter the Kenyan market, with Hisa maintaining its brand and operational independence. Jackson transitioned into the role of CTO, while co-founder Eric Asuma became a strategy advisor. The acquisition aimed to combine Hisa’s local expertise with Risevest’s expansive investment platform, promising growth for both entities.
However, Jackson’s departure shortly after the merger hints at potential challenges. Whether due to integration difficulties, cultural differences, or diverging visions for the company’s trajectory, his exit underscores the complexities of mergers in the fintech sector.
A New Chapter: Mashuuru Sports Complex
Following his departure, Jackson is shifting his focus to the Mashuuru Sports Complex, an ambitious initiative aimed at improving sports infrastructure in East Africa. This project reflects his commitment to fostering regional development by creating opportunities for athletes and elevating the sports industry.
Jackson’s pivot to sports infrastructure highlights his versatility and vision, leveraging his entrepreneurial expertise to drive impact in a new domain.
Future Implications for Hisa and Risevest
Jackson’s exit leaves a void in leadership as Hisa navigates its integration into Risevest’s ecosystem. While the company retains its brand, the transition will test its ability to maintain momentum and deliver on the promises of the merger.
For Risevest, ensuring a smooth transition and alignment of goals will be critical to unlocking the full potential of its Kenyan expansion.
Conclusion
Eric Jackson’s departure marks the end of an era for Hisa but opens a new chapter for both the company and Jackson himself. As Jackson channels his energy into the Mashuuru Sports Complex, Hisa faces the challenge of sustaining its growth under new leadership. The fintech industry will watch closely to see how Risevest and Hisa navigate this period of transformation.