Vaanii Baker Appointed Chairman of HammerPay African Subsidiary to Drive the Company's Mobile Banking Innovation Across Africa

Rhea-AI Summary

HammerPay USA (OTC Pink: HMMR), a subsidiary of Hammer Fiber Optics Holdings Corp., has established HammerPay African Ventures to deliver mobile banking and virtual wallet solutions across Africa. Vaanii Baker has been appointed as Chairman of this new venture, bringing over 12 years of experience from the World Bank Group.

Baker's expertise includes strategic leadership, financial analysis, and project management. He has managed complex programs and led initiatives across government and private sectors. His appointment underscores HammerPay's commitment to addressing the estimated 400 million unbanked adults in Africa, aiming to promote financial inclusion and drive economic growth.

Michael Cothill, Executive Chairman of HMMR, expressed confidence in Baker's leadership to guide HammerPay's expansion and reinforce its position in mobile banking and financial technology.

Positive

• Establishment of HammerPay African Ventures to expand into the African market
• Appointment of Vaanii Baker, an experienced World Bank Group professional, as Chairman
• Targeting a large unbanked population of over 400 million adults in Africa
• Potential for significant market growth and financial inclusion in Africa

Negative

• None.

Sarasota, Florida--(Newsfile Corp. - October 7, 2024) - HammerPay USA Ltd., (OTC Pink: HMMR) a wholly-owned subsidiary of Hammer Fiber Optics Holdings Corp., has established HammerPay African Ventures Ltd., a new subsidiary focused on delivering the innovative mobile banking and virtual wallet solutions of HammerPay to customers across Africa. The company is excited to announce the appointment of Vaanii Baker as Chairman of this new venture. In the coming days, Mr. Baker will finalize appointments to the Board of Directors for HammerPay African Ventures, who will oversee the company's initiatives throughout the continent.

With over 12 years of experience in operational and managerial roles at the World Bank Group, Vaanii Baker brings a wealth of expertise in strategic leadership, financial analysis, and project management. His extensive background includes managing complex programs and leading impactful initiatives across both government and private sectors.

"I have tracked HammerPay for several years and am excited to bring my experience from the World Bank Group to help promote financial inclusion," Baker added. "The unbanked adult population in Africa, estimated to exceed 400 million, represents not just a challenge but a remarkable opportunity for innovation and inclusion. I'm confident that our platform can empower communities, unlock financial access for millions, transform lives, and drive sustainable economic growth across the continent."

Michael Cothill, Executive Chairman of parent company HMMR, commented, "Vaanii Baker's appointment as Chairman of our new initiative highlights our commitment to bringing exceptional leadership to HammerPay. His deep understanding of financial systems and proven ability to drive meaningful change make him the ideal leader to guide HammerPay into its next phase of growth. We are confident that his leadership will elevate HammerPay and reinforce our position as a leader in mobile banking and financial technology."

Mr. Baker's career includes significant achievements, such as managing the negotiations process for 17 concession agreements with the Government of Liberia (totaling $20 Billion USD), including BHP Billiton, Sime Darby, Golden Veroleum, BR Power, China Union, Free Port of Monrovia, Western Cluster, Cavalla Rubber, LAC, and Liberian National Lotteries. He also oversaw the Trade and Business Environment components of two Budget Support projects for the Liberian government, totaling $40 million and played a key role in drafting and passing Liberia's first Special Economic Zone Code, which has the potential to attract $50 million in investments

Additionally, Mr. Baker Co-led a joint World Bank-IFC advisory program to establish an $800 Million USD agriculture development strategy for the government of Afghanistan to unlock Agribusiness for economic growth and expand job opportunities. As part of the initiative, he led consultations with senior government officials, including Minister of Agriculture, Minister of Commerce, and the Senior Advisor to the president. He also developed an Investment Promotion Strategy for Liberia, including an Agri-Business sector scan, promotional materials, and potential investment leads. Furthermore, he revitalized the Public Private Dialogue platform, securing support and commitments from both government and private sector stakeholders.

As Chairman of HammerPay African Ventures, Mr. Baker will lead the company's efforts to expand mobile banking services and enhance virtual wallet capabilities throughout Africa.

About HammerPay
HammerPay (USA) Ltd, a wholly owned subsidiary and brand operated by Hammer Fiber Optics Holdings Corp., is a mobile-first digital technology product, powering stored-value digital services for businesses and consumers, including those previously left outside the digital revolution. HammerPay was developed to scale a highly attractive digital cash/cashless solution to be deployed along with partners around the world, delivering expertise for both developed and developing economies. HammerPay connects mobile consumers to cashless purchasing and bill payments, instantly enabling consumer broad adoption. For more information, contact Investor Relations at info@hammerpay.com.

About Hammer Fiber Optics Holdings Corp.
Hammer Fiber Optics Holdings Corp. (OTC Pink: HMMR) is a company investing in the future of technology. Hammer has broadened its strategy to focus on the rapidly evolving world of innovative technology and in an effort to keep pace, has restructured the group to allow for the creation of several related verticals. Hammer has entered the Fintech industry which is rapidly becoming the mainstream technology powering today's telecommunication applications. For more information contact Investor Relations at info@hmmrgroup.com.

Forward-Looking Statements
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225414

FAQ

What is HammerPay USA 's new subsidiary for African operations?

HammerPay USA has established HammerPay African Ventures , a new subsidiary focused on delivering mobile banking and virtual wallet solutions to customers across Africa.

Who has been appointed as Chairman of HammerPay African Ventures ?

Vaanii Baker has been appointed as Chairman of HammerPay African Ventures

What is the stock symbol for HammerPay USA ?

The stock symbol for HammerPay USA is HMMR, traded on the OTC Pink market.

What is the target market size for HammerPay in Africa?

HammerPay is targeting an estimated unbanked adult population of over 400 million in Africa.