Global card payment processor Visa has announced strategic investments in four African startups – Ghana’s Oze, Nigeria’s Orda, and Kenyan ventures WorkPay and OkHi – that graduated from its Africa Fintech Accelerator programme.
Launched in 2023 in line with Visa’s pledge to invest US$1 billion in financial inclusion in Africa by 2027, the Africa Fintech Accelerator has so far accelerated 45 startups across two cohorts, with 15 active partnerships now in place.
The 23 startups that took part in the first programme last year received mentorship, technology credits, and opportunities to connect with potential investors during demo day, but only four were selected for strategic investment from Visa.
The selected startups were Oze, a Ghanaian business banking platform; Orda, a Nigerian restaurant technology startup; WorkPay, a Kenyan HR and payroll management firm; and Kenya’s OkHi, an AI-powered address verification service.
“Our goal has been to uplift the brightest that are building solutions to unlock money movement, empower merchants and SMBs, and support financial inclusion in the continent,” the company said in a LinkedIn post about the programme.
Startups in the second cohort will pitch to Visa and other investors during a demo day scheduled for next month, while Visa has also kicked off the third cohort of its accelerator programme, with 22 startups participating.
