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Watu

Asset-financing BNPL for African mobility

Internal Auditor

Full-Time
No salary listed
Mid
Bachelor's
Lagos, Nigeria
In Person
Risk & ComplianceInternal Audit & Controls

About the job

Requirements
  • Strong knowledge of internal controls, audit methodologies, financial reporting, and risk management.
  • High level of integrity, independence, and professional judgment.
  • Ability to work with confidential and sensitive information.
  • Bachelor’s degree in accounting or finance.
  • Four years of experience in audit, finance, credit, or related fields.
  • CPA Part II.
  • Proven knowledge of auditing standards and procedures, laws, rules, and regulations.
  • Close attention to detail and strong analytical skills.
  • Sound independent judgment.
  • Good communication and report-writing skills.
  • Ability to maintain high standards of ethics, confidentiality, and professionalism.
Responsibilities
  • Review compliance with applicable laws, Central Bank of Nigeria regulations, regulatory directives, and company policies.
  • Review financial transactions, records, lending activities, and operational processes to identify control weaknesses and irregularities.
  • Identify and report control deficiencies, operational risks, fraud risks, and regulatory breaches.
  • Prepare internal audit reports and present significant findings and recommendations to Management and the Board Audit Committee.
  • Monitor and follow up on implementation of audit recommendations and corrective actions.
  • Conduct investigations and special audits as directed by the Board or Board Audit Committee.
  • Maintain independence and objectivity in all audit activities.
  • Implement the risk-based annual audit plan.
  • Perform the full audit cycle to assess operational effectiveness, financial reliability, and compliance with applicable directives and regulations.
  • Develop audit programs and testing procedures relevant to risk and audit objectives.
  • Identify internal control issues in key risk processes in a timely manner to help avert losses.
  • Test controls and interact with relevant company staff to verify their implementation and effectiveness.
  • Identify loopholes and recommend risk-aversion measures and cost savings.
  • Complete assigned and planned audit engagements from preplanning through fieldwork and wrap-up.
  • Prepare reports reflecting audit results and document processes.
  • Conduct follow-up audits to monitor management interventions.
  • Lead occupational health and safety audits for all Watu workplaces.
  • Coordinate environmental, social, and governance audits.
  • Coordinate audits with the Central Bank of Nigeria and other necessary partners.
  • Coordinate external information technology audits.
  • Assist with organization-wide enterprise risk management.
  • Follow company policies, processes, and code of conduct.
  • Complete reasonable work-related tasks approved by management that support company goals and targets.
  • Complete tasks and responsibilities within agreed deadlines.
  • Perform administrative duties according to agreed processes.
  • Lead and embed change.
  • Adapt verbal and written communication to different audiences.
  • Recommend improvements and innovative ideas to increase business efficiency.
Desired Qualifications
  • Certified Internal Auditor qualification is an added advantage.

About the company

Watu is an asset-financing fintech in Africa that provides buy-now-pay-later loans to unbanked and underserved customers to acquire income-generating assets. It finances items such as two- and three-wheelers, smartphones, and education, with bundles that include GPS tracking, insurance, and logbook transfers, and repayment is typically via mobile money with interest and fees as revenue. The company differentiates itself by targeting mass-market mobility and financial inclusion at scale, expanding beyond vehicles into devices and education, and investing in green mobility through EV financing and partnerships. Its goal is to increase access to credit and mobility for underserved populations, while expanding the EV portfolio and building the infrastructure needed for affordable, sustainable transportation across Africa.

Company Size

1,001-5,000

Company Stage

Debt Financing

Total Funding

$29M

Headquarters

Nairobi, Kenya

Founded

2015

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Simplify's Take

What believers are saying

  • On 23 July 2026, Watu Uganda financed one million devices, doubling 2025 volume.
  • Watu and Airtel Rwanda launched smartphone financing on 9 July 2026, broadening distribution.
  • Car & General reported 2025 revenue up 92.7% to KES28.3 billion.

What critics are saying

  • TechCabal reported 2024 profit plunged 85% as loan defaults rose in Kenya and Uganda.
  • The Star said 2025 restructuring cut some departments nearly half, signaling brittle economics.
  • If defaults spike again, funding can tighten and force a destructive repossession spiral.

What makes Watu unique

  • Watu finances boda bodas, tuk-tuks, and smartphones through bundled asset-credit underwriting.
  • Its GPS, insurance, and logbook-transfer bundle locks assets into repayment and recovery.
  • July 2026 Airtel Rwanda deal ties handset financing to telecom distribution and mobile money.

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Benefits

  • Health Insurance

Company News

Launch Base Africa
Sep 11th, 2026
Kenya's Watu bags $7M in nondilutive debt to scale smartphone and vehicle financing

Kenya's Watu has secured a $7 million nondilutive debt facility from AHL Venture Partners to support its asset-financing operations across Africa and Latin America. The funding will strengthen working capital and expand the company's portfolio of motorcycles, three-wheelers, and smartphones in select African markets. Founded in 2015, Watu operates in 10 countries including Kenya, Tanzania, Uganda, Nigeria, and Mexico. The company reports originating over 7 million loans since inception, focusing on mobility and connectivity assets for underserved customers. The facility builds on a financing relationship dating back to 2022. It follows AHL's recent second close of its Africa Credit Fund I, which raised $45.5 million toward a $70 million target. The fund provides senior secured, mezzanine, and bridge loans ranging from $2 million to $10 million to profitable businesses across East, West, and Southern Africa.

EAVCA
Sep 24th, 2025
Metier Partners with Watu to Scale Operations in Existing Markets and Unlock New Opportunities to Deepen Support for Communities it serves

Metier Capital Growth Fund III partners with one of East Africa's leading connected asset microfinance institutions 16 September 2025 - Metier, through its Capital Growth Fund III ("MCGF III"), has partnered with Watu Group ("Watu"), a non-deposit taking microfinance institution [...]

Techish
Sep 16th, 2025
Jumia and Watu are teaming up to offer smartphone financing in Kenya - with a catch.

By combining Jumia's massive online marketplace with Watu's financing model, this BNPL program could turn smartphones from simple gadgets into powerful tools for economic and social growth.

Bizna Kenya
Sep 16th, 2025
Jumia and Watu Credit partner to make smartphones affordable for millions of Kenyans

By combining Jumia's online marketplace with Watu Credit's proven financing model, the BNPL program positions smartphones not just as devices, but as tools for economic and social empowerment.

BitKE
May 22nd, 2025
FINTECH AFRICA | Kenyan BNPL Startup, Watu, Sees 85% Profit Plunge in One Year Amid Rising Loan Defaults

Founded in 2015 by Latvian entrepreneur, Andris Kaneps, Watu has raised over $20 million across five funding rounds from investors including: