Visa Africa Fintech Accelerator Program – Empowering African Fintech Startups
Visa has launched the Visa Africa Fintech Accelerator program to support the growing startup community in Africa. The program, introduced by Visa Executive Chairman Alfred F. Kelly Jr. at the Bloomberg New Economy Gateway Africa event in Marrakech, Morocco, aims to assist up to 40 startups annually.
The Visa Africa Fintech Accelerator offers a three-month intensive learning program focused on business growth and mentorship. After completing the program, Visa plans to provide additional support to selected fintech startups through capital investment. These startups will also get help launching their businesses commercially by accessing Visa’s technology and capabilities.
This initiative follows Visa’s recent commitment to invest $1 billion in Africa’s digital transformation, demonstrating its long-term dedication to boosting African economies and fostering inclusive growth. Fintech startups from across Africa can apply for the program twice a year, starting in July 2023.
The launch of the Africa Fintech Accelerator program builds on the success of the Visa Everywhere Initiative (VEI) competition, where over 1,000 African fintech startups participated in 2022. Finalists from this year’s country editions will be invited to join the accelerator program, further emphasizing Visa’s role in driving innovation and supporting the digital evolution of Africa.
Alfred F. Kelly Jr., Executive Chairman for Visa Inc, at the Bloomberg New Economy Gateway Africa Event, said that 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. He added that Visa has been increasing its investments in Africa for decades and strengthening partnerships throughout the continent to support the next wave of innovation and growth. new Fintech Accelerator will bring expertise, connections, and investment to Africa’s best fintech start-ups so they can grow at scale.
Support for fintechs in the Visa Africa Fintech Accelerator program, as highlighted by Fintechnews Africa, is essential for strengthening the payment ecosystem. This expedites the development of innovative technologies addressing unique challenges in Africa, promoting digitization.
In line with Visa’s commitment, as reported by Fintechnews Africa, to uplift global communities through superior payment solutions, this backing for Africa’s fintechs aligns with the mission and creates opportunities for financial inclusion. Visa’s dedication extends to fostering economic growth and inclusivity through robust financial solutions across diverse demographics.
