Visa, a leading digital payment company, is set
to host the first demo day of its Africa Fintech Accelerator program in
Nairobi, Kenya on February 13th. The event will showcase the innovations of
emerging fintech start-ups from 18 African countries that are part of the
program launched by Visa in June 2023.
The main objective of the program is to enable
Africa's expanding start-up community by providing expertise, connections,
technology, and investment funding. During the first demo day, the first-cohort
start-ups will pitch their innovations to key ecosystem players, funding
partners, angel investors, and venture capitalists.
From over 1,000 applicants across diverse
subsectors including merchant payment solutions, lending infrastructure,
Banking-as-a-Service, and B2B marketplaces, the program's first participants
were selected. These start-ups, including Duhqa, Power Financial Wellness,
Inc., Workplay, OkHi Smart Addressing, and Eversend among others will feature
during the first demo.
Visa Africa Fintech Accelerator aims to enable
up to 40 start-ups each year to accelerate and grow through a three-month
intensive learning program focused on business growth and mentoring. After
program completion, Visa intends to further support fintech growth with capital
investment in select participating businesses, and by accelerating their
commercial launch through access to Visa technology and capabilities.
Visa Everywhere Initiative is Visa's global
open innovation competition that sees startups pitch their innovative solutions
to solve tomorrow's payment and commerce challenges. The program first launched
in the U.S. in 2015 and has since expanded globally. To date, nearly 12,000 startups
have applied to the program. VEI winners gain access and exposure to Visa's
vast networks of partners in the banking, merchant, VC, and government sectors,
as well as recognition from one of the world's most trusted and valuable
brands.
By: Nana Appiah Acquaye
