Visa, a global leader in digital payments, recently hosted 23 pioneering fintech startups at its Africa Fintech Accelerator Demo Day held in Cape Town, South Africa. This event brought together a vibrant mix of venture capitalists, angel investors, ecosystem enablers, and strategic business partners to witness innovative financial solutions poised to drive digital transformation across the continent.
Aida Diara, Senior Vice President and Head of Visa Sub-Saharan Africa, expressed admiration for the ingenuity displayed by the startups. “The innovative solutions presented by these fintech pioneers are truly inspiring. Their approaches to addressing financial challenges highlight immense creativity and potential. Visa remains committed to supporting these entrepreneurs by providing the resources and platforms they need to scale their businesses and make a lasting impact,” she stated.
The Demo Day marked the culmination of a rigorous 12-week accelerator program, featuring intensive training, mentorship, and networking opportunities. Participants, grouped into batches representing West Africa, North Africa, and East & Southern Africa, showcased their groundbreaking solutions, drawing keen interest from potential investors and ecosystem stakeholders. This platform offers unparalleled visibility and opportunities for collaboration, fostering an environment for strategic partnerships and funding that can propel these startups to the next level.
Visa’s Long-Term Commitment to Africa’s Fintech Ecosystem
The Visa Africa Fintech Accelerator program, launched in 2023, is a cornerstone of Visa’s commitment to investing $1 billion in Africa by 2027. Designed to support Seed to Series A startups, the program offers tailored mentorship, skill development, and exclusive funding opportunities, aligning with Visa’s vision to advance digital transformation and financial inclusion across the continent.
To date, the program has nurtured 45 startups, equipping them with the tools to scale their innovations and extend financial services to underserved communities. The accelerator program has also demonstrated a commitment to fostering diversity, with 85% of startups in the third cohort featuring female leadership, a significant increase from 43% in the inaugural edition.
The next chapter of the program began on November 5 in Abidjan, where 19 forward-thinking digital enablers from 21 African countries joined the accelerator. Visa’s continued efforts to empower these startups underscore its mission to drive inclusive growth, transform Africa’s financial landscape, and create sustainable economic opportunities for millions.