Visa has launched a new Africa Fintech Accelerator programme to help enable African startups through expertise, connections, technology, and investment funding.
The launch of the Africa Fintech Accelerator programme follows Visa’s recent pledge to invest US$1 billion in Africa’s digital transformation and its long-term commitment to advancing Africa’s economies and driving inclusive growth.
The accelerator will enable up to 40 startups each year to accelerate and grow through a three-month intensive learning programme focused on business growth and mentoring.
Following the programme completion, Visa intends to further support fintech growth with capital investment in select participating businesses, while accelerating their commercial launch through access to Visa technology and capabilities.
Fintech startups throughout Africa can apply to be part of the program through two application phases each year, starting from this month. With more than 1,000 African fintech startups taking part in the Visa Everywhere Initiative competition in 2022, finalists from Africa country editions this year will be invited to join the accelerator programme.
“Africa has one of the most exciting and admired fintech ecosystems in the world, bringing outstanding entrepreneurial talent to a young digital-first population that is growing fast,” said Alfred F. Kelly Jr., executive chairman of Visa. “Visa has been increasing our investments in Africa for decades and strengthening partnerships throughout the continent to support the next wave of innovation and growth. Our new Fintech Accelerator will bring expertise, connections, and investment to Africa’s best fintech start-ups so they can grow at scale.”
