On the lighter side of things, we ask the industry experts what makes them tick....

As Group Managing Director at EFT Corporation, Mike Smits’ role is focused on leading the day-to-day operations of the business, driving strategic growth, managing client relationships, and expanding the organisation’ s footprint across Africa.

EFT Corporation, EFTCorp is Africa’ s leading payment solutions provider, enabling financial institutions with tailored solutions that drive modern banking innovation. With over 26 years of experience, EFTCorp is a trusted strategic partner in secure and scalable transaction switching, payment processing, issuing, acquiring, and comprehensive Banking as a Service, BaaS capabilities.

EFTCorp serves over 100 financial institutions across 14 African countries. Backed by Development Partners International, DPI, one of Africa’ s top private equity investment firms, EFTCorp is committed to driving digital transformation, financial inclusion and shaping the future of payments across Africa.

What are your strengths and abilities that you bring to the above role?

Mike has always had an entrepreneurial mindset, and is the kind of person who gets things done and brings teams together to solve problems and grow businesses. His background spans finance, operations, compliance, and sales, which provides him a broad perspective on running and scaling a business. He thrives in dynamic environments where strategy and execution meet.

The shift from CFO to GMD was a natural one for me, while finance and compliance are crucial, my strengths lie in operational leadership, market expansion, and mobilising people to deliver results.

Please describe the expectations of the end customers that you address. What are their pain points today?

EFTCorp’ s end customers, primarily banks and regulated financial institutions, expect secure, scalable, and cost-effective digital payment infrastructure that can be deployed rapidly, without the burden of extensive capital projects. Their primary pain points include outdated legacy systems, navigating complex regulatory environments, fragmented and siloed ecosystems, and limited access to affordable, cutting-edge technology.

Many of these financial institutions operate in regions where financial inclusion remains a significant challenge, and where existing infrastructure constrains innovation. They are looking for a trusted partner

Safaricom is a stand-out example, particularly for their role in revolutionising the financial landscape in Kenya with M-PESA.

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