Visa has announced the launch of a new initiative called the Africa Fintech Accelerator, which will provide assistance to African companies by providing knowledge, contacts, technology, and investment capital.
Up to forty startups per year will benefit from the accelerator’s intense three-month learning program that focuses on business growth and mentoring.
Following Visa’s recent announcement that it would invest $1 billion in Africa’s digital transformation and its long-term commitment to improving the continent’s economies and promoting inclusive growth, the Africa Fintech Accelerator program has now been launched.
Following the program’s conclusion, Visa plans to continue supporting the growth of the fintech industry by making capital investments in a small number of the participating companies and speeding up their commercial launch through the use of Visa technology and resources.
“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,” said Alfred F. Kelly Jr., executive chairman of Visa. “Visa has been increasing our investments in Africa for decades and strengthening partnerships throughout the continent to support the next wave of innovation and growth. Our new Fintech Accelerator will bring expertise, connections, and investment to Africa’s best fintech start-ups so they can grow at scale.”
Starting this month, fintech startups from all around Africa can apply to be a part of the program through two application periods each year.
To apply or for more information visit the website.
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