Visa Announces Application Phase for Africa Fintech Accelerator's Fifth Group, Reveals 22 Fintech Startups in the Fourth Group
Visa Africa Fintech Accelerator Supports Fintech Innovation Across the Continent
The Visa Africa Fintech Accelerator program, launched in 2023, is focused on nurturing early-stage fintech startups across Africa to drive financial technology innovation and digital transformation on the continent. The program targets startups with a minimum viable product (MVP) or market-ready solutions that address various fintech challenges such as digitization of small and medium businesses, lending, cross-border payments, payroll systems, AI-powered payments, social commerce, climate insurance, and neo-banking.
Since its inception, the accelerator has supported 64 startups across multiple cohorts, facilitating partnerships and helping raise significant funding totaling over $55 million for alumni. This initiative is part of Visa’s broader commitment to invest $1 billion in Africa’s digital transformation by 2027.
The 12-week hybrid program offers startups several key benefits, including mentorship and tailored training from industry experts, access to Visa’s technology tools and a wide network of partners, opportunities for strategic investment or funding consideration, participation in an in-person Demo Day where they pitch to regional and global investors, access to product perks and incentives from over 100 technology vendors, and support in scaling both locally and globally.
The fourth cohort of the Visa Africa Fintech Accelerator includes 22 participating startups spanning 12 countries. Notable startups in this cohort include Flend from Egypt, BigDot.ai from Zimbabwe, ChatCash from Zimbabwe, Woliz from Morocco, Zazu from South Africa, Motito from Ghana, Hsabati from Morocco, IPT Africa from Mauritius, Muda from Kenya, MNZL from Egypt, PressPayNg from Nigeria, Shiga Digital from Nigeria, ShopOkoa from Kenya, Vittas from Nigeria, Startbutton from Nigeria, mystocks.africa from Botswana, OKO Finance Ltd from Ivory Coast, Maishapay from the Democratic Republic of Congo, and Sevi from Kenya.
Applications are now open for the fifth cohort of the Visa Africa Fintech Accelerator, with a deadline of August 15. The program is designed to help startups based in Africa fast-track their growth and impact. Startups offering solutions such as Small and Medium Business (SMB) digitization, lending, cross-border payments, payroll, business-to-business (B2B) payments, AI-powered payments, social commerce, climate insurance, and neo-banking are encouraged to apply.
Nearly two-thirds (62%) of the startups included in the first three cohorts of the Visa Africa Fintech Accelerator have women on their leadership teams, reflecting the program's commitment to promoting diversity and inclusion in the fintech sector.
Some of the other notable startups that have benefited from the program include Lemonade Payments from Kenya, Credify Africa from Uganda, Twiva from Kenya, and Vittas from Nigeria.
The Visa Africa Fintech Accelerator program concludes with an in-person Demo Day for Cohort 4 startups, where they will have the opportunity to showcase their solutions to regional and global investors, including venture capitalists and angel investors. This marks another step in Visa’s continued commitment to advancing Africa’s digital economy and transforming the payments ecosystem.
- The Visa Africa Fintech Accelerator program, launched in 2023, supports early-stage fintech startups across Africa, aiming to drive financial technology innovation and digital transformation.
- The accelerator program offers startups tailored training, access to Visa’s technology tools, and opportunities for strategic investment or funding consideration within the banking, technology, and finance sectors.
- Notable startups in the fourth cohort of the Visa Africa Fintech Accelerator include those addressing challenges in SMB digitization, lending, social commerce, climate insurance, and neo-banking, such as Flend from Egypt, BigDot.ai from Zimbabwe, and startbutton from Nigeria.
- Applications are now open for the fifth cohort of the Visa Africa Fintech Accelerator, designed to help startups based in Africa fast-track their growth and impact, particularly in areas like lending, cross-border payments, payroll, AI-powered payments, and social commerce.
- In addition to providing support to fintech startups, the Visa Africa Fintech Accelerator program has demonstrated a commitment to promoting diversity and inclusion in the fintech sector, with nearly two-thirds of startups including women on their leadership teams.
