Visa has announced that applications are open for the fifth cohort (Cohort 5) of its Visa Africa Fintech Accelerator. The accelerator is a 12-week program that is designed to help startups fast-track their growth and impact.
Fintechs with a minimum viable product (MVP) or a market-ready solution based in Africa are invited to apply before August 15 HERE.
The Visa Africa Fintech Accelerator supports Africa-focused startups and helps them advance in the fintech sector. This initiative is part of Visa’s commitment to advance Africa’s digital economy, and the company’s pledge of $1 billion by 2027 to transform the payments ecosystem.
Since its inception in 2023, the Visa Africa Fintech Accelerator program has supported 64 fintechs across three cohorts, with an estimated cumulative portfolio value of $1.1 billion. In the first three cohorts, participation was from 17 countries in Africa with operational footprint in 31. Nearly two-thirds (62%) of the startups included women on their leadership teams. Collectively, these fintechs have added more than $3 million in revenue during the course of the training, and alumni have subsequently raised more than $55 million following completion of the program.
Chad Pollock, General Manager and VP, Visa East Africa stated: “Visa is committed to fostering innovation and promoting access and inclusion within Africa’s financial ecosystem. As digital transformation accelerates across the continent, we are pleased to invite applications for Cohort 5 of the Visa Africa Fintech Accelerator, in alignment with our mission to support emerging start-ups in advancing their innovative solutions. We are also proud to introduce the participants of Cohort 4, whose diverse initiatives are set to deliver meaningful benefits to individuals, merchants, and businesses.”
The virtual Accelerator program will conclude with an in-person Demo Day, where startups will have the opportunity to pitch their innovations to key ecosystem players, funding partners, angel investors, and venture capitalists.
Visa has announced 22 startups that were selected to participate in the fourth cohort (Cohort 4) of its Visa Africa Fintech Accelerator program from 12 countries. The startups aim to tackle challenges in Africa’s fintech sector and promote financial inclusion and digital growth. They provide solutions in 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.