By Emmanuel Ogbodo
Visa, the global payments giant, has announced a $1 billion investment aimed at advancing financial inclusion across Africa, starting with strategic backing for four African startups. This investment is part of Visa’s Africa Fintech Accelerator program, launched in June 2023, to support emerging fintech firms in delivering digital financial solutions across the continent.
Godfrey Sullivan, Visa’s Senior Vice President for Products and Solutions, shared details of the investment in a LinkedIn post on Monday. He announced the selection of four startups: Oze, a Ghana-based business banking platform; Nigeria’s Orda, which specializes in restaurant technology; Kenya’s WorkPay, focusing on HR and payroll solutions; and OkHi, another Kenyan firm providing AI-driven address verification.
Sullivan underscored Visa’s commitment to fostering digital innovation, boosting fintech growth, and expanding financial access across Africa. Now in its third cohort, the three-month accelerator program offers startups support in product development, marketing, finance, and sales, along with expert mentoring and potential funding opportunities.
Additionally, Amazon Web Services is backing the initiative, offering free cloud services to program participants. Since its inception, Visa’s accelerator has supported 45 startups, with plans to continue driving fintech innovation on the continent through 2027.
“Companies interested in Africa are invited to join and contribute to developing the next generation of fintech innovators, experiencing the transformative power of these partnerships,” Sullivan stated.
