Visa launches ‘Visa Accelerator Program’ for African FinTechs

By Delisha Fernandes

Visa announced the launch of the Visa Africa FinTech Accelerator program to help the growing community of African start-ups through experience, connections, technology and investment financing. Visa CEO Alfred F. Kelly Jr. launched the initiative at the Bloomberg New Economy Gateway Africa in Marrakech, Morocco.

The launch of the Africa FinTech Accelerator program follows Visa’s recent pledge to invest $1 billion in Africa’s digital transformation and its long-term commitment to advance African economies and drive inclusive growth.

“Africa has one of the most exciting and admired FinTech ecosystems in the world, bringing exceptional entrepreneurial talent to a young, digital-first population that is growing rapidly,” said Alfred F. Kelly Jr., President of Visa, Inc. executive. “Visa has been increasing our investments in Africa for decades and strengthening partnerships across the continent to support the next wave of innovation and growth. Our new FinTech accelerator will bring experience, connections and investment to the best FinTech start-ups in Africa so they can grow at scale.”

Supporting participating FinTech start-ups will help further strengthen the payments ecosystem by quickly driving new innovations and technologies that provide solutions to challenges that are unique to the African continent and can further advance the Digitisation of Africa. In line with Visa’s corporate purpose of improving the quality of life for everyone, everywhere, by being the best way to pay and get paid, this support for African FinTech start-ups will facilitate additional opportunities to expand financial inclusion.

“The FinTech community in Africa is at the forefront of innovating in payments and connecting more of the unbanked with access to the digital economy,” said Otto Williams, director of partnerships, products and solutions, Central Europe, the Middle East and Africa, Visa. “Visa has been working with this innovative community to create new programs and solutions that help FinTech start-ups scale while giving access to Visa’s technology and partner ecosystem.”