Visa executive chairman Alfred F. Kelly Jr.

Visa has launched a new Visa Africa Fintech Accelerator programme to help the continent’s expanding start-ups through expertise, connections, technology, and investment funding.

The initiative was introduced yesterday by Visa executive chairman Alfred F. Kelly Jr. at Bloomberg New Economy Gateway Africa in Marrakech, Morocco.

The Visa Africa Fintech Accelerator will enable up to 40 start-ups each year to accelerate and grow through a three-month intensive learning programme, focused on business growth and mentoring.

Following the programme’s completion, Visa intends to further support fintech growth with capital investment in select participating businesses, while accelerating their commercial launch through access to Visa technology and capabilities.

Fintech start-ups throughout Africa can apply to be part of the programme through two application phases each year, starting from July 2023.

“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 Kelly Jr.

He added: “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.”

Otto Williams, head of partnerships, products and solutions, Central Europe, Middle East and Africa, Visa, commented: “Africa’s fintech community is at the forefront of payments innovation and connecting more of the unbanked with access to the digital economy.

“Visa has been working with this innovative community to create new programmes and solutions to help fintechs scale, while giving access to Visa’s technology and partner ecosystem. Through the new Visa Africa Fintech Accelerator, we are looking forward to working with more brilliant entrepreneurs and companies to shape the future of money.”