Visa has announced new investments in four African fintech startups from the first cohort of its Visa Africa Fintech Accelerator program. The specific amounts invested in each startup were not disclosed. The selected startups include OZÉ from Ghana, which provides integrated financial services to small and medium enterprises (SMEs).
Workpay from Kenya is an HR technology platform that supports payroll and compliance. Pngme from Nigeria offers digital address verification. Orda, based in Nigeria, Kenya and South Africa, is a restaurant software provider that digitizes the operations of more than 1,500 restaurants.
Visa supports fintech growth in Africa
The Visa Africa Fintech Accelerator, launching in 2023, is a three-month program providing Series A startups with mentorship, training, funding opportunities and partnerships. Visa’s accelerator is part of a broader commitment to invest $1 billion in Africa by 2027, focusing on digital transformation initiatives.
Godfrey Sullivan, senior vice president of products, partnerships and digital solutions for Visa CEMEA, said in a statement: “These investments mark a substantial milestone for Visa – we once again support our commitment to innovation in Africa, helping to shape the future of digital payments alongside some of the brightest FinTech minds the continent has to offer. Visa views every investment as a unique opportunity to drive financial access and inclusion, and we are proud to support these startups as they realize their vision of a more connected Africa.
Visa welcomed its second cohort into the program in January, building on the success of the inaugural accelerator program launched in June 2023. Graduates from the second cohort will be able to showcase their capabilities to venture capitalists, angel investors, to ecosystem facilitators and business partners. during a demonstration day in December.
2 in Cape Town, South Africa.