By Adedapo Adesanya
Visa has opened applications for start-ups to participate in the first cohort of the Visa Africa Fintech Accelerator programme, which opens startups operating in Africa to gain unparalleled expertise, valuable industry connections, cutting-edge technology, and potential investment funding.
The programme will run over 12 weeks twice a year with up to 20 startups per cohort.
In a statement, Visa noted that startups up to Series A stage are encouraged to apply through the Visa website for a chance to join any of the cohorts. Applications will close on August 25, and the first cohort will be announced in September.
In line with Visa’s pledge to invest $1 billion in Africa by 2027, the accelerator aims to strengthen Africa’s payment ecosystem through innovations and technologies, focusing on digitizing economies, upskilling talent, and building capacity.
Plug and Play, an innovation platform, will serve as the programme’s partner for the Visa Africa Accelerator. Throughout the 12-week program, Plug and Play will deliver valuable content, facilitate access to mentors, arrange one-on-one coaching sessions, and connect startups with a global and regional network of investors.
The Visa Fintech Accelerator is looking for disruptive startups that operate and generate revenue within the African continent.
Startups that solve issues around: unlocking money movement, embedded finance, empowering merchants and small and medium-scale enterprises (SMEs), payment infrastructure enablers, those solving the future of finance, and providing sustainable and inclusive finance are welcomed on board.
Commenting on the announcement, Mr Otto Williams, Senior Vice President, Head of Product, Partnerships, and Digital Solutions for Visa, CEMEA said, “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 startups to access invaluable resources, mentorship, and potential investment opportunities.”
Visa Fintech Africa Accelerator application can be done through this link: africa.visa.com/visa-everywhere/innovation/visa-accelerator.html.
