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Acceleration opportunity for African fintech start-ups

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 20 Jul 2023
Applications for the Visa Africa Fintech Accelerator programme are now open.
Applications for the Visa Africa Fintech Accelerator programme are now open.

Following the announcement of the Africa Fintech Accelerator programme, Visa is inviting regional fintech start-ups to be part of its investment and training vehicle.

Targeted at African fintech firms, the initiative aims to support 40 businesses through capital investment, training, mentorship, technology and networking opportunities.

It also aims to strengthen Africa's payment ecosystem through innovations and technologies, focusing on digitising economies, upskilling talent and building capacity, according to Visa.

The programme will run over 12 weeks twice a year, with up to 20 start-ups per cohort.

In a statement, Visa encourages applications from start-ups, up to Series A stage, saying it is looking for those that operate and generate revenue on the African continent.

Visa notes its search includes start-ups that focus on digitising various payment types, enhance payment and finance experiences in B2C and B2B commerce models, accelerate the growth of merchants and SMEs through digital payment solutions, and those that embrace emerging technologies in financial services.

Additionally, fintech start-ups that enable services such as authentication and fraud solutions, and support sustainable and inclusive finance, are also encouraged to apply.

Otto Williams, senior VP, head of product, partnerships and digital solutions for Visa CEMEA, comments: “Through the Visa Africa Fintech Accelerator, Visa is committed to driving financial innovation, fostering entrepreneurship and supporting the growth of fintech ecosystems across Africa.

“This accelerator represents a unique opportunity for fintech start-ups to access invaluable resources, mentorship and potential investment opportunities.”

Applications will close on 25 August and the first cohort will be announced in September.

To apply for the Visa Africa Fintech Accelerator programme, click here.