Visa is accepting applications from African startups to participate in the first cohort of the Visa Africa Fintech Accelerator program.
The 12-week program will run twice a year and accept up to 20 startups per cohort.
Startups up to the Series A stage can apply through the Visa website for a chance to gain expertise, industry connections, technology, and potential investment funding.
Applications close on August 25th, with the first cohort announced in September.
In line with Visa’s $1 billion investment pledge in Africa by 2027, the accelerator aims to strengthen Africa’s payment ecosystem through innovations and technologies that focus on digitizing economies, upskilling talent, and building capacity.
“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, Visa, Inc.
Plug and Play, the world’s leading innovation platform will serve as the program partner.
Throughout the Visa Africa Fintech Accelerator program, Plug and Play will deliver content, facilitate mentor access, arrange coaching sessions, and connect startups with a global and regional investor network.
The program seeks disruptive startups that operate and generate revenue within Africa.
Startups in five categories are encouraged to apply: Unlocking Money Movement, Embedded Finance, Empowering Merchants and SMEs, Payment Infrastructure Enablers, The Future of Finance, and Sustainable and Inclusive Finance.
”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.” Otto Williams, Senior Vice President, Head of Product, Partnerships and Digital Solutions for Visa CEMEA, said.