EFT Corporation CEO Clayton Hayward Steps Down for Tharvos

In Short

• Clayton Hayward has stepped down as group CEO of EFT Corporation.
• He is launching Tharvos, an AI venture builder with software entrepreneur George Gericke.
• EFT Corporation will run without a single CEO, using four divisional managing directors.

What Happened

EFT Corporation is changing leadership after Clayton Hayward stepped down as group CEO. EFT Corporation focuses on payment solutions and transaction infrastructure, meaning the rails that help banks and merchants move money securely. The company says its technology supports 35+ markets across Africa and it works with more than 100 banks.

Hayward said he is leaving after a major corporate restructuring, not because the business is struggling. He will remain an advisory shareholder.

Instead of appointing a direct successor, EFT Corporation has been reorganised into four divisions. Each division will be run by a managing director with their own profit and loss responsibility, meaning they are accountable for revenue and costs for that unit.

The new divisional leads are Corrie Bakker for EFT Distribution, focused on operations in Africa, Paul Carter-Brown for the SaaS banking platform EFT Now, Paul Selibas for the payment service provider business Scan to Pay in South Africa, and Mike Smits for the alliance banking business in South Africa.

Hayward is also starting Tharvos with George Gericke. Tharvos plans to invest in, build, and operate “AI-native” ventures, meaning products designed around AI from day one rather than adding AI later. Hayward said Tharvos has already launched its first project, NIJA, a prepaid AI token platform.

Why It Matters

Payments infrastructure providers like EFT Corporation sit behind everyday digital payments, POS transactions, and bank transfers. Leadership changes and restructures can affect product roadmaps, partnerships, and execution speed, especially when responsibilities move from one CEO to multiple business heads.

Hayward’s move also signals how experienced fintech operators in Africa are now forming AI venture studios. If Tharvos successfully spins up new products, it could add fresh competition in areas like developer tooling, payment automation, and compliance workflows, where AI can reduce manual work and speed up delivery.