Twenty-five African fintech startups have been selected for the inaugural Amazon Web Services (AWS) FinTech Africa Accelerator cohort.
Disrupt Africa reported in March AWS, the cloud computing division for the world’s largest e-commerce retailer Amazon, had strengthened its footprint in Africa with a call for applications from early-stage startups to join the first edition of the FinTech Africa Accelerator.
Hosted by AWS’ globally-recognised Startup Loft Accelerator, the programme will focus on fintech and fintech-adjacent startups operating in Africa. The equity-free accelerator is designed to work directly with CEOs and CTOs in enabling them with a wide variety of resources including strategy, tech team management, product development, and helping founders prepare for navigating the complexities of fundraising.
The cohort of 25 startups was selected from over 500 applications, who will now start the 10-week programme in June. Each startup will get technical review workshop sessions and up to US$25,000 USD in AWS technical credits, world leading sector advice and one-to-one mentorship from major industry players including the Africa Fintech Summit (AFTS), Lendsqr and Vestbee to help them build their businesses.
The cohort includes eleven startups from Nigeria – Ashiri NG, bunce, DeemPay, Fluna, Incash, KoinWa, Stacs, Vagrent Africa, WALLX Africa, Zainnest, and Zeeh Africa. Four are from Kenya – Chumz, hela.money, Kiotapay, and Mauzo, and another four from Ghana – Asaana Pay, Edanra, Exxtra, and H28 Technologies.
It also includes two from Uganda – eMaisha Pay and Xazu Technologies – and two from South Africa – Abela iMali and Moya Money. Cameroon’s Dreamcash and Egypt’s MazAid complete the cohort.
“At AWS, we’re thrilled to be a part of Africa’s digital transformation, making core financial services accessible to more individuals and businesses. We believe that anyone regardless of their location, should be able to access innovative technologies and realise their dreams,” said Napa Onwusah, startup segment lead at AWS. “I am excited that the accelerator will be instrumental in empowering these startups to grow and scale their businesses.”
