- Visa is set to host the first demo day of its Africa Fintech Accelerator program in Nairobi on February 13th.
- Visa has opened applications for its second cohort, encouraging Seed to Series A startups operating in Africa to apply by February 29th.
Visa is set to host the first demo day of its Africa Fintech Accelerator program in Nairobi on February 13th. Launched in June 2023, the program aims to empower emerging fintech start-ups across the continent by providing expertise, connections, technology, and investment funding.
The event will see the first cohort of fintech start-ups from 18 African countries pitching to key players in the ecosystem, including funding partners, angel investors, and venture capitalists. Among the participating fintechs are Duqha and Power from Kenya, OkHi from Nigeria, and Eversend from Uganda.
Visa has also opened applications for its second cohort, welcoming Seed to Series A startups operating in Africa. The call for applications, open until February 29th, focuses on five key categories:
- Unlocking Money Movement: Digitizing payment types, including cross-border remittances, open banking, and account-to-account solutions.
- Embedded Finance: Enhancing payment and finance experiences in B2C and B2B commerce models through advanced intelligence.
- Empowering Merchants and SMEs: Accelerating growth through digital payment solutions, emphasizing omnichannel payments and working capital optimization.
- Payment Infrastructure Enablers: Building the base layer of payment infrastructure and key enabling services such as authentication, digital onboarding, credit scoring, and risk management solutions.
- The Future of Finance: Embracing emerging technologies like AI-powered payments, blockchain, enterprise DLT, and programmable money.
What They Said
Brian Dempsey, Founder and CEO of Power, a Kenyan fintech provider and one of the first cohort participants, shared his experience saying, “The Visa Accelerator Program has been really valuable for Power as a business. The quality of the mentors and speakers has been top-notch, and the Accelerator team always available when needed.”
Otto Williams, Senior Vice President at Visa, ecommented on this and said, “Following the success of the inaugural accelerator, Visa is inviting a second round of disruptive startups to apply to the program, offering entrepreneurs an opportunity for mentorship and fast-tracked growth.”
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