Dubai fintech accelerator to assist African startups

The Dubai International Financial Centre (DIFC) has partnered professional services firm Accenture to launch of fintech accelerator that will support startups from Africa, Asia and the Middle East.

Set to launch in the first quarter of 2017, FinTech Hive at DIFC aims to provide a platform that brings financial services and technology firms together and increase access to the financial services sector.

FinTech Hive at DIFC will start with a 12-week accelerator programme, which will bring together the next generation of leaders and entrepreneurs to compete and address the growing needs of the region’s financial services industry, using innovative technology solutions.

“We are proud to be launching FinTech Hive at DIFC following the recent announcement of the world’s first government accelerator programmes by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai,” said Essa Kazim, governor of the DIFC and chairman of the DIFC Authority board of directors.

Sushil Saluja, senior managing director of financial services in Europe, Africa and Latin America at Accenture, said the DIFC was uniquely positioned to become the regional hub for fintech.

“By putting together local banks and FinTech firms to ideate, collaborate and partner, DIFC is helping both sectors be at the forefront of the financial services industry,” Saluja said. “The accelerator programme will identify the best entrepreneurs within the financial services industry and grant them invaluable access to, and feedback from, potential customers and funders.”