EFT Corporation (EFTCorp) has proudly joined Women in Payments Africa (WIPA) as a sponsor and strategic partner, furthering its commitment to empowering women and driving gender diversity in the payments sector where female representation remains underdeveloped. By aligning with WIPA’s mission to amplify women’s voices and drive inclusion, EFTCorp aims to create a digital payments ecosystem where women can lead, innovate and thrive.
Launched in January 2024, WIPA was co-founded by payment heavyweights, Ghita Erling (PASA), Karen Nadasen (PayU), Chipo Mushwana (Nedbank), Ethel Nyembe (CYBER1 Solutions) and Kim Dancey (Yoco). With a mission to accentuate what it means to be a female leader in payments, foster collaboration and champion gender parity in a sector ripe for transformation, WIPA is a supportive network of highly accomplished women who have broken through the so-called glass ceiling and are committed to uplifting others as they rise.
Increasing female representation in the financial industry is a crucial step toward fostering growth and better serving women. Yet, in Sub-Saharan Africa, only 37% of women have bank accounts compared to 48% of men – a disparity that underscores the need for more female voices at decision-making levels to develop products that truly address customer needs.
While digital financial technologies, such as mobile money, e-commerce opportunities and an expanding range of payment platforms are enabling greater economic inclusion for women, lasting change requires deliberate leadership. This progress has, however, not only opened doors for more women to enter the financial profession but also allowed them to influence the research and development of new products and services that take women into consideration.
Blending global payments technologies with local African contexts is also a practical necessity for the continent’s multi-faceted financial ecosystem. Chipo Mushwana, Executive of Emerging Innovation and Payments at Nedbank and Co-founder of WIPA, emphasises the unique nature of Africa and the tailored solutions required to address its specific challenges. She said: “As African women, we possess a deep understanding of the entrepreneurial and business landscape we operate in. This positions us perfectly to drive transformative change that respects both our geographical and gender-specific contexts. EFTCorp’s decision to join WIPA underscores a deliberate, female-led initiative that fosters a supportive and empowering environment for women to learn, grow and find a sense of belonging.”
By working collaboratively in the payments space, women can design strategies and products that reach and empower unbanked women, showcasing the transformative power of such efforts in advancing Africa’s digital economy. “There is immense power in uniting experienced women in payments to drive transformative strategies that unlock opportunities for the next generation,” said Lee Ziervogel, Chief Operating Officer of EFTCorp and newly appointed WIPA Ambassador.
This sponsorship reflects EFTCorp’s belief in the importance of female leadership and innovation in creating impactful payment solutions for the African market. As a leading catalyst for financial inclusion in Africa, EFTCorp is creating and facilitating a seamless and interconnected digital payment landscape that empowers banks, FinTechs, businesses and individuals.