Top 10 Female Managers Leading FinTech in Africa

Women represent less than 10% of leadership— as founders and as members of executive boards of fintech companies. Yet, in this imbalance, there are female managers whose brilliance and impact remain undeniable in boardrooms and the lives of millions across the continent. These women are not just leading the digital trends, but reshaping the very narrative of Fintech in Africa.

Undeniably, Africa’s Fintech surge holds transformative potential. From mobile money transactions to blockchain ventures these companies weave encourage financial inclusion. Thankfully, these women have stayed true to their vision and growth fueled with resilience, vision, and the resolute belief that these technologies should serve.

In this article, we will see their stories, innovations, and the unique paths they carve through the Fintech space. Their stories will inspire a generation of girls to code, to lead, and to rewrite the rules of finance, not just in Africa, but across the globe.

Top Female Managers in FinTech in Africa
What are the Key Challenges Women Face in African Fintech?
How are These Women Leaders Overcoming these Challenges?
What Initiatives Support and Empower More Women in African Fintech?
FAQs about Female Managers In FinTech in Africa
Conclusion
Recommendations

Top Female Managers in FinTech in Africa

These are the women leading in the fintech space in Africa:

1. Fara Ashiru Jituboh (Nigeria)

Fara Ashiru Jituboh, a Nigerian-born entrepreneur based in the United States, has always desired to make a meaningful impact in her home country. Holding a degree in Computer Science from North Carolina Agricultural and Technical State University, she has accumulated extensive experience working with several Fortune 500 companies.

Jituboh serves as the co-founder and CEO/CTO of Okra, Inc., a Nigerian fintech startup facilitating real-time financial information exchange between customers, applications, and banks. She is proficient in over 20 programming languages and is a software engineer and entrepreneur.

2. Chilufya Mutale (Zambia)

Chilufya Mutale, the current Co-Founder and CEO of PremierCredit Zambia, previously held the position of Director, Financial Services Consultant at BlueOrange Finance Group.

With an educational background from the Frankfurt School of Finance & Management, Mutale specializes in fintech startups, inclusive digital financial services, consumer lending, and SME finance. Her expertise includes human-centered product development, risk-based pricing model designs, and implementing programs promoting customer financial literacy and inclusion.

3. Odunayo Eweniyi (Ghana)

Odunayo Eweniyi is the Co-founder and COO of PiggyVest. With a first-class degree in Computer Engineering from Covenant University, Nigeria, she brings 5 years of experience in Business Analysis and Operations.

Eweniyi actively supports the inclusion of women in technology, collaborating with hubs and female-focused networks such as For Creative Girls, GreenHouse Labs, and She Leads Africa. She is also the co-founder of the women’s community, Wine and Whine Nigeria.

As a Nigerian business executive and activist, Eweniyi co-founded Feminist Coalition and received the Future Awards Africa Prize in Technology in 2018. In 2019, Forbes Africa recognized her in the 30 under 30 Technology list, and she was named one of the 30 Quartz Africa Innovators. Eweniyi appeared on Forbes Africa’s 20 New Wealth Creators in Africa 2019 and was nominated for The Future Awards Africa Prize for Young Person of The Year in 2020.

Her contributions during the End SARS Protest in October 2020 earned her a spot on Bloomberg in 2020 and Time Next 100 in 2021. In March 2022, she achieved the Forbes Woman Africa Technology and Innovation Award.

4. Meghan McCormick (Ghana)

Meghan McCormick is the Co-founder and CEO of OZÉ, a Ghanaian fintech company empowering African entrepreneurs with data-driven decisions to enhance business performance and access capital.

McCormick initiated Guinea’s first business accelerator, Dare to Innovate, during her service as a Community Economic Development Volunteer in the Peace Corps. With an MBA from MIT and an MPA from the Harvard Kennedy School, she previously worked as an Innovation Strategist at Monitor Deloitte.

5. Yvonne Johnson (Nigeria)

Yvonne Johnson is the Co-founder/CEO of Indicina, a FinTech infrastructure startup focused on Africa. She is a strategic thinker with a decade of leadership experience supporting executive management on financial services strategy.

A Kellogg School of Management MBA graduate and an early-stage investor/adviser in Pan-African technology start-ups, including Andela and Flutterwave, Johnson leverages innovative solutions for impactful change.

6. Temidayo Salako (Nigeria)

Temidayo Salako, a Nigerian, serves as the Head of Community at Tunga. With over 6 years of diverse cross-sector experience, she has effectively led teams and overseen programs and projects spanning various sectors, such as Not-For-Profit, Business, Alternative Education, Technology, and Social Impact.

Temidayo possesses well-established skills in consulting, leadership, coordination, vision mapping, project initiation, monitoring, execution, and process innovation. Her remarkable ability to thrive in different sectors speaks volumes about her adaptability and versatility. Temidayo is motivated by her belief in playing a strategic role in Africa’s future growth and strategic development.

Dedicated to this vision, she is actively engaged in empowering and investing in Africans, facilitating their journey towards realizing their full potential. Temidayo’s passion for Africa’s growth and development, combined with her wealth of experience and expertise, positions her as an invaluable asset to any organization or project.

7. Esther Ninsiima Nyinamwiru (Uganda)

Esther Ninsiima Nyinamwiru, based in Uganda, serves as a Product Manager/Project Manager. With a robust track record in the internet industry, Esther is an accomplished Product Owner and Tech Talent Manager. Her expertise encompasses the effective management of software developers, recruitment, adept problem-solving, skillful negotiation, cost control without compromising quality, and proficient project management.

Before venturing into the tech field, Esther garnered experience in the construction industry as a Quantity Surveyor. This background equipped her with skills in cost management and ensuring timely and budget-conscious project completion. Drawing from her unique perspective gained in construction, she brings valuable insights to her work in the tech industry.

Esther is a highly skilled professional devoted to delivering quality outcomes. Her proficiency in team management, problem-solving, and effective negotiation positions her as a valuable asset to any organization.

8. Abiola Rasaq (Nigeria)

Abiola Rasaq is the Founder of The Bug Detective and serves as a QA Lead. She has established a test community for Software Testers named “The Bug Detective.” Abiola firmly believes that leadership involves both influence and impact, a principle she has consistently demonstrated throughout her career and community engagement.

Driven by her passion for software testing, Abiola has successfully built a thriving community boasting over 800 members. Within this community, she imparts training and guidance to newcomers in the field. Her unwavering commitment to assisting others in achieving success is evident through her efforts in ensuring community members secure their desired positions as software testers.

In addition to her community involvement, Abiola is an accomplished QA Lead with a noteworthy history of success. Her expertise extends to software testing, test automation, quality assurance, and project management, making her a skilled professional in her field.

9. Ada Nduka (Nigeria)

Ada Nduka, based in Nigeria, is the Founder of Shecode Africa. She is a Software developer and an advocate for Open Source, currently leading Developer Relations at Interswitch Group. Ada is also the founder of She Code Africa and Open Source Community Africa, where she concentrates on issues related to Women in tech and Open Source, respectively.

Beyond her roles in software development and open source advocacy, Ada hosts a podcast show for forLoop Africa, one of the largest developer communities in Africa. In this podcast, she delves into various tech-related topics and conducts interviews with several personalities in the tech industry.

10. Oladiwura Oladepo (Nigeria)

Oladiwura Oladepo serves as the Executive Director at Tech4Dev. She is a dedicated social entrepreneur with a strong passion for making a positive impact in people’s lives and society. Leveraging her skills and expertise, Oladiwura is enthusiastic about assisting individuals and organizations in creating value while actively contributing to positive change in their communities.

Her work revolves around seeking innovative and sustainable solutions to social challenges, and she consistently explores ways to enhance the world around her. As a social entrepreneur, Oladiwura is committed to fostering positive change and aims to inspire others to embark on similar impactful journeys.

What are the Key Challenges Women Face in African Fintech?

Women in African Fintech face several key challenges, hindering their advancement and leadership opportunities. Here are some of the most prominent:

1. Access to Funding: Securing funding remains a significant hurdle for female entrepreneurs, with studies showing they receive only a small fraction of venture capital compared to their male counterparts. This disparity stems from various factors, including unconscious bias among investors, lack of female-focused investment networks, and limited collateral access. Well, there are business loans for startups to keep them running.

2. Cultural Biases and Societal Expectations: Deep-rooted gender stereotypes and traditional expectations often discourage women from pursuing careers in technology and finance. Additionally, cultural norms may limit their access to education, networking opportunities, and support systems essential for entrepreneurial success.

3. Lack of Mentorship and Role Models: The scarcity of successful female leaders in African Fintech creates a significant vacuum of mentorship and guidance for aspiring women. This lack of role models can fuel self-doubt. It also makes it difficult for women to envision themselves in leadership positions within the industry.

4. Balancing Work and Family Responsibilities: Women are often disproportionately responsible for domestic duties and childcare. This makes it challenging to manage demanding careers in Fintech. Limited access to affordable childcare or flexible work arrangements further exacerbates this issue.

5. Discrimination and Harassment: Unfortunately, instances of gender-based discrimination and harassment within the Fintech ecosystem persist. This creates a hostile work environment and discourages women from participating fully in the industry.

6. Inadequate Support Systems: The ecosystem often lacks sufficient infrastructure and support systems tailored to address the specific needs of women entrepreneurs. This includes access to training programs, networking opportunities, and support networks dedicated to overcoming gender-specific challenges.

How are These Women Leaders Overcoming these Challenges?

While facing multiple challenges, these inspiring women leaders in African Fintech are demonstrating resilience and finding ways to overcome them, paving the path for others to follow:

1. Building Communities and Networks: Many women leaders are actively building communities and networks specifically for women in Fintech. Platforms like “Africa Women in Fintech” and “She Leads Africa” offer mentorship, skill development programs, and access to funding opportunities. These empower and support aspiring female entrepreneurs.

2. Advocating for Change: These leaders are vocal advocates for gender equality and diversity in the industry. They actively participate in conferences, panels, and media discussions, raising awareness about the challenges faced by women and pushing for policy changes and initiatives that promote inclusive practices.

3. Leveraging Technology and Innovation: Utilizing their expertise, some women leaders are leveraging technology to develop solutions that address gender-specific barriers. For example, some have created digital platforms facilitating access to microfinance or financial literacy training tailored to women’s needs.

4. Embracing Collaboration and Partnerships: Recognizing the limitations of individual efforts, many women leaders are forging partnerships with other stakeholders, including male allies, investors, and established institutions. This collaborative approach strengthens their advocacy efforts and enhances their collective impact.

5. Cultivating Resilience and Perseverance: These women leaders demonstrate determination and resilience. They share their experiences openly, inspiring others to persevere and challenge the status quo. Their stories testify to the power of self-belief and the importance of not being deterred by setbacks.

6. Championing Mentorship and Role Models. Many successful women leaders are actively involved in mentoring and supporting female entrepreneurs. They provide guidance, share their knowledge, and offer real-world insights. The aim is to create a pipeline of future leaders who can break down barriers and achieve even greater success.

What is the Impact of these Female Managers?

The impact of these leading women in African Fintech extends far beyond their achievements. Their collective efforts have demonstrably changed lives, empowered communities, and reshaped the industry in several key ways:

On Individuals

Financial Inclusion: By developing innovative solutions and advocating for inclusive practices, these leaders have expanded access to financial services for millions of individuals, particularly women in underserved communities. This empowers them to manage their finances more effectively, invest in their businesses, and build brighter futures.
Skills Development and Education: Through mentorship programs, workshops, and training initiatives, these female managers contribute to bridging the digital literacy gap and equipping women with the skills needed to excel in the Fintech sector. This fosters confidence, opens career opportunities, and promotes economic independence.
Role Models and Inspiration: By serving as visible role models and sharing their journeys, the female managers challenge stereotypes and inspire countless young women to pursue careers in technology and finance. This creates a ripple effect, encouraging broader participation and diversity within the industry.

Communities

Economic Growth and Development: By empowering individuals and unlocking their financial potential, these female leaders contribute to economic growth and development at the community level. Increased financial inclusion fosters entrepreneurial activities, job creation, and overall economic prosperity.
Social Impact and Empowerment: Many initiatives spearheaded by these leaders address specific social challenges faced by women and underserved communities. These include access to healthcare or affordable housing. This promotes societal progress and empowers marginalized groups to participate meaningfully in the economy.
Community Building and Networks: These leaders facilitate collaboration and knowledge sharing among women entrepreneurs by establishing platforms and fostering connections. This creates stronger communities, fosters peer support, and amplifies their collective impact.

On the Industry

Diversity and Inclusion: By advocating for gender equality and championing the inclusion of women, these leaders are driving a fundamental shift towards a more diverse and inclusive African Fintech sector. This benefits the industry by tapping into a wider talent pool, fostering innovation, and enhancing overall performance.
Innovation and New Solutions: With diverse perspectives and unique experiences, these women leaders are driving innovation within the industry. They develop solutions that address previously overlooked needs and cater to underserved segments of the population, expanding the reach and relevance of African Fintech.
Increased Investment and Growth: The success stories and advocacy efforts of these leaders are attracting greater attention and investment into Fintech in Africa. This fuels further growth and development within the industry, creating more opportunities for women and the entire ecosystem.

What Initiatives Support and Empower More Women in African Fintech?

Several initiatives exist to support and empower women in African Fintech. They focus on tackling challenges from access to funding and mentorship to fostering collaboration and building capacity. Here are some key examples:

Funding and Investment

We-Fi: This World Bank initiative provides financial resources and technical assistance to accelerate women’s entrepreneurship in developing countries, including Africa.
Lighthouse Africa: This venture capital firm invests in high-growth businesses led by women entrepreneurs in East and West Africa.
Elevate Capital: The impact investing firm focuses on providing growth capital to women-led businesses in Africa. It addresses the funding gap often faced by female entrepreneurs.

Mentorship and Networking

Africa Women in Fintech (AWFP): This organization connects women in Fintech across Africa, fostering peer-to-peer learning, mentorship, and collaboration.
She Leads Africa: The organization empowers women entrepreneurs in Africa through training programs, networking events, and access to funding.
Women in Tech Africa: This platform connects women in the tech industry in Africa, providing them with resources, community, and support.

Capacity Building and Training

Digital Divide Initiative. This World Bank initiative aims to bridge the digital gender gap in Africa by providing women with access to digital skills training and technology.
She Hacks Africa. The platform hosts hackathons and workshops focused on empowering women with tech skills. It also promotes their participation in the tech ecosystem.
UN Women’s Tech Innovation Lab: This program supports women entrepreneurs in Africa by providing training, mentorship, and funding to develop digital solutions for development challenges.

Policy Advocacy and Awareness

Alliance for Inclusive Financial Identities (AIFI). This organization advocates for policies that promote financial inclusion for women in Africa. These include access to mobile money and digital identity solutions.
FinTech for Inclusion Task Force: The initiative brings together stakeholders from the Fintech industry to develop solutions that improve financial inclusion for marginalized groups, including women.
Gender Responsive Innovation Initiative (GRII). This program of the World Bank and IFC supports the development and adoption of gender-responsive innovations in emerging markets, including Africa.

FAQs about Female Managers In FinTech in Africa

What initiatives exist to support and empower more women in African Fintech?

Initiatives span funding and investment (We-Fi, Lighthouse Africa), mentorship and networking (AWFP, She Leads Africa), capacity building and training (Digital Divide Initiative, She Hacks Africa), and policy advocacy (AIFI, Fintech for Inclusion Task Force).

How can I get involved and support these women?

Learn more about the leaders and organizations, and consider a career in Fintech. You can also advocate for diversity and inclusion and support initiatives empowering these women.

Where can I find more information?

Explore the websites of the mentioned organizations, resources focused on women and technology in Africa, and articles featuring these leaders.

What are the long-term implications of increased female participation in African Fintech?

A more diverse and inclusive industry fosters broader innovation and unlocks previously untapped talent pools. It also strengthens financial inclusion across the continent, ultimately leading to more equitable and sustainable economic growth.

What can be done to further accelerate the advancement of women in African Fintech?

Continued efforts are crucial, including increased access to funding, mentorship programs, targeted training initiatives, and advocacy campaigns challenging societal biases and promoting inclusive policies within the industry.

Conclusion

The stories of these ten remarkable women resonate beyond individual achievements. They represent a wave of change, breaking stereotypes, and driving African Fintech towards a more inclusive future. We can all contribute to this empowering narrative by learning about these inspiring leaders and the support initiatives paving the way.