What began with Western Union in the 1990s evolved into a transformative career on visas for Aida Diara, a leading force in the African fintech sector.
Much of Dearra's economic footprint in FinTech began in New Jersey, USA, where she served as US director to Africa. Currently she is a senior visa visa president and head of sub-Saharan Africa and oversees more than 50 countries across the continent.
For Diara, her path to fintech wasn't something she had planned from the start, but her time in the visa industry has changed her life.
“I didn't know when I started my career, but looking back over the years, I just want to realize that somehow it was within me,” she said.
“When you succeed, the impact you have on your individual, your community and the economy is incredible and that's what I experienced when I took part in the visa,” she added.
Diara's ascension to senior leadership is rare. In fact, a Report from Deloitte The title “Facing for Women Leaders in the Financial Services Industry, Updated 2023: Global Assessment” shows that there has been changes in terms of gender inclusion in fintech leadership, but changes have been slow.
Deloitte's research says that if the current situation continues, the number of senior female leaders could stagnate. The data show that the proportion of senior female leaders in Africa has increased from 23.9% in 2012 to 29.1% in 2022, but by 2031 the forecast will decrease to 27.3%.
However, there is hope for the women's share of C-Suite positions by 2031, as Africa is expected to have the second highest regional growth rate.
Diala's Fintech Recipes for Success for Women
Fintech leaders acknowledged how few women leaders are in the financial services field, regardless of race.
Diara's best advice for young leaders is to know who they are.
“I'm grounded enough so that no one can define who I am and what I want. It's about realizing that you are pursuing a goal that is bigger than you. Once you have that clarity, you're inclusive, innovative, bold and make sure you bring a lot of tension.
Research from McKinsey and Company The African fintech landscape has outlined the experience of significant changes in recent years, characterized by rapid growth and innovation.
Diara supports this point, advises women, “we are very aware of how quickly the world is changing, and how much technology is evolving even on a continent like Africa.”
She urged women to learn that they have the clarity of “fintech service and how it is used and used on the continent.”
Supporting the next generation of fintech leaders
When asked what role visas play in helping fintech grow beyond local markets, Diara promoted a US$200 million investment in the company's electronic payments company Interswitchand added that small fintechs are also receiving funds.
Small businesses funded by Visa can be found through that fund Visa Everywhere InitiativeIn 2024, it won the world's top prize of $100,000.
“() If there are, then you'll invest in some of them after going through some form of competition. (a) Those who show the right talent, the right management, the right opportunities with the right traction will support them by investing in them or providing financial support.”
According to an executive who is fluent in both French and English, Visa provides fintech companies with knowledge about the foundations of payment management and risk prevention mechanisms. It also provides fraud prevention tools that businesses can use to expand their business models.
Promote your passion to continue
“Africa is always seen as a continent with many possibilities, but it's not necessary,” she said. “I intend to borrow the terminology used at the last African CEO forum in Kigali (Rwanda) (Africa) doesn't always have the opportunity to sit at the table and be part of a big decision.”
“It's about trade, politics, or macroeconomics, the role I hope to play is to generate more opportunities, more awareness and demonstrate that it's difficult to develop on the continent,” she added.
Not only does she work to promote change across Africa in the financial services sector, but she does so for her son who wants to be a citizen of the world.
“I want him to act with impact and truly lead with a purpose in whatever he chooses,” she concluded.
