Fintech in Africa is a rapidly growing sector, transforming the continent’s economic landscape by offering solutions that bridge gaps in traditional banking systems. With its unique ability to provide accessible financial services, fintech has fueled innovation in how Africans transact, save, and invest. It is not just reshaping banking, but also bringing financial inclusion to previously underserved communities across the continent.
As the second-largest region in terms of mobile money accounts globally, Africa’s fintech ecosystem thrives on digital platforms, which offer new ways to access financial services. The rise of mobile money solutions, peer-to-peer lending, and blockchain-based platforms are just a few examples of the innovations coming from African fintech startups.
One of the main drivers behind this growth is the continent’s young population and high mobile phone penetration. Over 60% of Africans are under the age of 25, and mobile phone ownership continues to rise, giving fintech companies an opportunity to reach millions of unbanked or underbanked individuals. The digital infrastructure is growing stronger, providing fertile ground for fintech solutions that aim to provide secure, efficient, and cost-effective services.
What is often overlooked in discussions about fintech in Africa, however, is the significant role of women in leading this revolution. While the tech world has historically been male-dominated, several women are now at the forefront of driving fintech’s exponential growth across the continent. Their leadership has broken barriers, not only in terms of gender but also in redefining how technology and finance interact in Africa.
As the fintech sector continues to mature, it’s crucial to recognize these trailblazing women who have not only influenced their companies but also the entire African fintech ecosystem. In this article, we highlight seven top women who are playing pivotal roles in shaping the future of fintech in Africa.
Top Women Leading Fintech in Africa
1. Elizabeth Rossiello (CEO & Founder, AZA Finance)
Elizabeth Rossiello is the Chief Executive Officer and Founder of AZA Finance, a global fintech company that focuses on driving economic growth across Africa. She launched the company in 2013 as BitPesa, originally headquartered in Nairobi, Kenya, before transforming it into AZA Finance. Under her leadership, the company has become a leading platform for foreign exchange (FX), payments, and settlement services, with the goal of promoting cross-border financial inclusion for African markets. Elizabeth’s vision has enabled AZA Finance to expand its operations across several African nations, while also bridging the gap with global markets. Under her leadership, AZA Finance has processed over $2 billion in transactions, becoming a key player in Africa’s fintech space.
Elizabeth has been instrumental in advocating for financial sovereignty across African nations, particularly through AZA Finance’s mission to reduce Africa’s reliance on foreign currencies, such as the US dollar. She has actively supported policies that empower African economies to strengthen their local currencies. Her fintech firm, which operates in G20 countries and Africa, has received global recognition, notably being named one of the World’s Top 10 Most Innovative Companies by Fast Company in 2021. The firm’s proprietary technology and infrastructure enable seamless, secure transactions, driving financial growth for African SMEs and large organisations.
Apart from her work with AZA Finance, Elizabeth Rossiello is an influential figure in the blockchain and fintech spaces globally. She co-chairs the World Economic Forum’s Council on Blockchain and sits on the Global Advisory Board for the Centre for the Fourth Industrial Revolution. In addition, she has been recognized as a Bloomberg New Economy Catalyst in 2021, and as a World Economic Forum Technology Pioneer in 2019. Holding a Master’s in International Business and Finance from Columbia University, Elizabeth continues to champion financial inclusion and innovation in Africa’s fintech ecosystem.
2. Odunayo Eweniyi (Co-Founder & COO, PiggyVest)
Odunayo Eweniyi is a prominent Nigerian fintech entrepreneur and the Co-Founder and Chief Operations Officer of PiggyVest, Nigeria’s largest savings and investment platform. Eweniyi co-founded PiggyVest in 2016, with the goal of encouraging a culture of financial discipline among Nigerians by offering users the ability to save and invest seamlessly through an app. Prior to PiggyVest, she had co-founded PushCV, one of the largest job search platforms in Africa, which gave her valuable experience in scaling digital businesses in Nigeria’s tech ecosystem.
Odunayo has been widely recognized for her contribution to fintech and technology, not only in Nigeria but across the African continent. She has received several prestigious accolades, including the Forbes Africa 30 Under 30 list and the Future Awards Africa Prize in Technology. In addition, she was named to the Quartz Africa Innovators list and Bloomberg 50 for her role in advancing financial inclusion and her contributions to the End SARS protests, which sought to reform Nigeria’s police force. Her leadership at PiggyVest has helped thousands of Nigerians achieve their financial goals, making savings and investments accessible and secure.
Beyond her business ventures, Odunayo is a vocal advocate for diversity, equity, and inclusion in tech. She works to ensure more women and marginalised communities have access to opportunities in technology and fintech. As a strong believer in mentorship, she also dedicates time to supporting young entrepreneurs, especially women, helping them navigate the complex world of business and technology. Eweniyi’s work continues to inspire a new generation of tech entrepreneurs in Africa, proving that fintech can be both profitable and transformative.
3. Viola Llewellyn (President & Co-Founder, Ovamba Solutions)
Viola Llewellyn is the President and Co-Founder of Ovamba Solutions, an award-winning fintech company that provides innovative financing solutions to small and medium-sized enterprises (SMEs) in emerging markets, particularly Africa. Ovamba, which focuses on creating greater financial inclusion for businesses, is often referred to as a “TradeTech” company due to its unique combination of financial technology and trade finance. Viola co-founded the company with the mission of supporting African businesses in overcoming the challenges of access to capital, and her work has earned her global recognition as an expert in African entrepreneurship and digital transformation.
Born in the UK to Cameroonian parents, Viola has always been passionate about using technology to transform Africa’s financial ecosystem. Her approach at Ovamba focuses on digitizing trade processes and providing SMEs with the tools to grow their businesses without relying on traditional banking systems, which often exclude them. Ovamba’s platform uses machine learning and other digital innovations to assess risk, process transactions quickly, and provide businesses with the capital they need to expand. This has not only revolutionised access to finance for many businesses but has also contributed to economic growth in the African continent.
Viola is a sought-after speaker and thought leader, having spoken at prestigious events such as Slush Helsinki and Davos, and has been featured in major publications such as Vanity Fair. She was named a Global Technology Pioneer by the World Economic Forum, and her TED Talk on African entrepreneurship has been widely lauded. She also serves on multiple corporate boards and has been a strong advocate for women in leadership, fintech, and STEM fields. With her deep expertise in African markets, Viola continues to push boundaries, making a significant impact on trade finance and financial inclusion across the continent.
4. Tebogo Mokwena (Co-Founder & CEO, Akiba Digital)
Tebogo Mokwena is the Co-Founder and CEO of Akiba Digital, a pioneering fintech company that leverages artificial intelligence and data analytics to democratise access to financial opportunities. Established in 2018, Akiba Digital focuses on providing small and medium-sized enterprises (SMEs) and consumers with data-driven solutions to enhance their financial decision-making. By creating comprehensive client profiles and automating client verification processes, Akiba Digital helps financial institutions mitigate risks and make more informed decisions.
Tebogo’s expertise extends beyond fintech, with a background in both technology and business. She previously founded Pach-it, a web and mobile development startup, and has worked with notable organisations such as McKinsey & Company and Allan Gray Proprietary. Her academic credentials include degrees from UCLA and the University of Cape Town, as well as a master’s in machine learning from the University of Lugano. Tebogo’s commitment to innovation and financial inclusion continues to shape Akiba Digital’s success and its impact on the financial landscape in Africa.
5. Fara Ashiru Jituboh (Co-Founder & CEO, Okra)
Fara Ashiru Jituboh is the Co-Founder and CEO of Okra, a fintech company revolutionising financial data connectivity in Nigeria. Okra provides a secure platform that facilitates real-time financial information exchange between customers, banks, and applications, addressing a significant gap in the Nigerian financial ecosystem. The company’s innovative approach has attracted major partners and investors, including TLcom and Susa Ventures, reflecting its rapid growth and market potential.
Fara’s journey began when she noticed the lack of effective financial management tools in Nigeria during her stay in the United States. Her experience led to the creation of Okra, which has since gained significant traction, evidenced by a successful $4.5 million funding round. With a robust business model that offers integrations into banking services, Okra stands out for its commitment to enhancing financial accessibility and digital transformation in Africa. Fara’s vision and leadership continue to drive Okra’s success and impact in the fintech sector.
6. Meghan McCormick (Co-Founder & CEO, Oze)
Meghan McCormick is the Co-Founder and CEO of Oze, a fintech startup dedicated to addressing the $331 billion small business credit gap in Africa. Based in Ghana, Oze offers innovative solutions to help small businesses access the capital they need to grow and thrive. Meghan’s leadership at Oze focuses on closing this significant credit gap by providing tailored financial services and tools that empower small businesses to make informed financial decisions and expand their operations.
With a rich background in entrepreneurship and finance, Meghan has been a prominent advocate for the role of women in technology and business. She holds an MBA from MIT Sloan and an MPA from the Harvard Kennedy School, where she was involved in programs focusing on entrepreneurship in emerging markets. Her work has been instrumental in highlighting and supporting women-led initiatives and businesses across Africa. Meghan’s dedication to fostering financial inclusion and supporting small businesses has earned her recognition as a leading figure in the African fintech landscape.
7. Chilufya Mutale (Co-Founder & CEO, PremierCredit Zambia)
Chilufya Mutale is the Co-Founder and CEO of PremierCredit Zambia, a leading fintech company specialising in inclusive digital financial services. With a background in financial services consulting and a degree from the Frankfurt School of Finance & Management, Chilufya has played a pivotal role in advancing financial inclusion in Sub-Saharan Africa. PremierCredit provides innovative solutions that enhance access to credit for underserved populations, contributing significantly to financial empowerment and economic development in the region.
Under Chilufya’s leadership, PremierCredit has been recognized for its impact on financial inclusion, earning her accolades such as being named among the top 50 women in fintech and the 100 Women driving positive change in Africa. Her work aligns with the UN Sustainable Development Goals, emphasising the importance of financial literacy and access to credit for small and medium-sized enterprises. Chilufya’s influence extends across the continent, positioning her as a key figure in shaping Africa’s fintech landscape.
The rise of fintech in Africa has brought with it a new generation of leaders who are not only reshaping the financial services industry but also challenging gender norms. The contributions of women like Elizabeth Rossiello and others in the fintech space demonstrate the transformative power of diverse leadership. As these leaders continue to drive change, their work will be crucial in ensuring that Africa remains at the forefront of global fintech innovation. Their stories are not just about success in business, but also about the broader impact of financial technology in unlocking economic potential for millions across the continent.
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