Andrew Philbrick | VP of Finance | MonetizeMore
Andrew Philbrick’s path into the world of finance has been anything but conventional. From the very start of his career, he was drawn to the intersection of finance and technology—a fascination sparked during his university days when he majored in both Finance and Information Systems. What excited him most was the fast-paced innovation happening in capital markets, and this enthusiasm led him to begin his career in that very space. Over time, his role evolved from purely technical expertise into strategic financial leadership, particularly within technology companies. For the past 15 years, he has held senior financial roles in leading tech firms, where he has been responsible for functions such as FP&A, capital raising, corporate development, accounting operations, auditing, and treasury. At EliteX, we are proud to have Andrew Philbrick as part of the edition: Prominent Finance Leaders in Africa, 2025.
What has kept Andrew engaged and passionate about finance for over two decades is the deep immersion it offers into every layer of a business. For him, finance is not just about numbers—it is about understanding the heart of an organization, influencing decisions, and driving growth. He finds it deeply rewarding to witness how financial models and strategic forecasts contribute directly to real-world outcomes—whether it’s expanding into a new market, launching a new product, or improving internal efficiencies. A typical day in Andrew’s career might involve building complex financial models using Python or SQL, coaching team members on IFRS technicalities, refining KPIs to align with strategic goals, or streamlining data pipelines to enhance decision-making agility. He sees finance as a rare blend of storytelling, analytics, collaboration, and planning—an ideal mix that continues to inspire him daily.
“Trust is the chief professional currency of every finance leader—and it must be earned every day.”
Since 2016, Andrew has worked exclusively in AI-focused businesses. What once felt cutting-edge—like integrating tech tools into finance operations—has now become foundational. Today, AI is fully embedded in his finance functions, powering everything from revenue forecasting based on seasonal trends to accelerating financial closes using automated reconciliations. This deep technological integration has only amplified his passion, making finance feel as fresh and exciting as it did when he was first starting out.
In 2021, Andrew made a significant move with his family, returning to South Africa to engage more directly with the rapidly transforming financial landscape of Africa. For someone who thrives in dynamic environments, Africa’s emerging markets offered a unique opportunity. He saw the African Continental Free Trade Area (AfCFTA) as a landmark development that would reshape how businesses operate across the continent. With 55 countries, a population of 1.3 billion, and a GDP of $3.4 trillion now connected in a single trade area, Andrew recognized the immense potential for growth, innovation, and capital investment.
Andrew believes Africa’s financial evolution over the past decade has been remarkable and sees even more dramatic changes ahead. Regional blocs like SADC, EAC, and ECOWAS have harmonized investment rules and financial regulations, creating a more unified economic space. Initiatives like PAPSS (Pan-African Payment & Settlement System), launched in 2022, are modernizing cross-border payments by eliminating the need for dual foreign exchange conversions and reducing settlement times from days to seconds. Laws supporting visa-free travel and mutual recognition of banking licenses are further breaking down barriers to commerce and capital flows.
There has also been a liberalization of capital accounts in countries like Nigeria and Ghana, making it easier for firms to raise funds and move profits across borders. As a result, African stock exchanges now represent over US$2.5 trillion in combined market capitalization, and foreign direct investment hit a record $94 billion in 2024. According to Andrew, these trends signal a continent ready to attract increasing volumes of global investor capital.
“Africa is the most dynamic place to be in finance today, and the pace of innovation is just beginning.”
One of the most transformative forces in Africa’s financial sector, in Andrew’s view, is fintech. With a projected annual growth rate of 32%, Africa’s fintech market is set to reach US$65 billion within the next five years. Fintech has revolutionized the sector by drastically lowering costs—sometimes by as much as 80% compared to traditional banks—and providing faster, more accessible financial services. For Andrew, this wave of innovation presents both a challenge and an opportunity. Traditional financial institutions must now modernize to remain relevant, often by investing in or partnering with fintech startups to blend compliance frameworks with technological agility.
Andrew points to global players like PayPal as clear evidence of the growing international interest in African fintech. PayPal Ventures has backed several African startups, including Egypt’s Paymob, which now serves over 100,000 merchants, and South Africa’s Stitch, a startup building open-banking APIs for cross-border transactions. Blockchain-based services are also gaining momentum, with PayPal supporting Yellow Card to enable stablecoin-based payments across 20 African countries using PYUSD. These advancements reflect a broader trend: Africa is not just catching up with global fintech trends—it is setting new benchmarks.
In parallel with market development, Andrew highlights the growing maturity of financial reporting and compliance standards across Africa. Nearly all African countries with capital markets have now adopted the International Financial Reporting Standards (IFRS), a move that significantly improves transparency and boosts investor confidence. For public-interest entities, and increasingly for SMEs, IFRS adoption allows financial reports to be easily compared across borders—an essential condition for attracting global capital. Africa is also beginning to embrace the new IFRS sustainability disclosure standards (IFRS S1 and S2), which will allow companies to align with global expectations around ESG (environmental, social, and governance) practices. Andrew sees this as a necessary step in building long-term, resilient capital flows into the continent.
As a finance leader, Andrew’s approach to decision-making is grounded in a firm set of ethical and professional principles. Above all, he believes trust is the foundation of effective financial leadership. Investors, board members, executives, and team members must all trust the finance leader to act in the organization’s best interests, exercise sound judgment, and offer transparent insights. To maintain this trust, Andrew emphasizes continuous learning—staying current on technical standards, laws, and global developments. He is also committed to clear, accessible communication, especially when translating complex financial matters into actionable insights for non-financial stakeholders.
He draws guidance from the professional code of ethics of CIMA (Chartered Institute of Management Accountants), which emphasizes integrity, objectivity, professional competence, confidentiality, and ethical behavior. For Andrew, these aren’t abstract ideals but practical tools that help navigate the complex and high-stakes world of finance while preserving stakeholder confidence.
“Finance is the only career I know that blends narrative, numbers, people, and plans so seamlessly.”
In mentoring the next generation of finance leaders, Andrew encourages young professionals to balance foundational knowledge with emerging capabilities. He believes that earning a globally recognized qualification is the first step, but to stand out, professionals must also master the ability to communicate clearly at all levels and lead teams effectively. Leadership, in Andrew’s view, involves both setting a strong example and nurturing individual talents. Communication, meanwhile, requires crafting the right message for different audiences—be it a CEO, a department head, or an external investor.
He also stresses the importance of emotional intelligence and self-awareness. Understanding one’s own strengths and weaknesses, as well as being able to empathize with and respond to the needs of different stakeholders, is what separates great leaders from good ones. On the technical side, he urges young professionals to embrace emerging technologies, especially AI, and learn the new tools shaping the industry. Despite the rise of AI, Andrew challenges the idea that programming is no longer necessary. Just as accountants didn’t abandon math when calculators arrived, finance professionals must continue to build technical fluency to remain competitive.
Ultimately, Andrew Philbrick’s journey reflects the story of modern finance itself—a field where technology, strategy, regulation, and human insight intersect. His career illustrates how finance, when practiced with passion, adaptability, and purpose, can become a driving force behind innovation, economic growth, and lasting impact—especially in regions like Africa, where the future is still being written.