EFT Corporation has named Mike Smits as group managing director.

As the African fintech expands in key growth regions, EFT Corporation has named Mike Smits as group managing director.

According to the corporation, Smits' new role will focus on driving strategy and digital transformation collaboration in Kenya, the Democratic Republic of the Congo, and Ethiopia.

Smits previously worked as a chief financial officer and has a "entrepreneurial spirit," according to the EFT Corporation, making him an ideal candidate for the company's expansion goals.

The company also stated that Smits' appointment underlines its desire to expedite digital financial revolution across Africa.

“Our focus on these new markets offers a great opportunity to make a positive impact in countries that currently have low digital enablement, outdated banking infrastructure, but huge potential for the advancement of financial inclusion for many millions of people,” said Smits.

“The economic development of countries like Ethiopia, Kenya and the DRC depends on moving into the digital age and EFT Corporation is perfectly positioned to assist the financial sector to make that transition."