Grace Ashiru
Amazon’s cloud computing business, AWS, is now accepting applications for the first time for the AWS FinTech Africa Accelerator. This is part of Amazon’s efforts to grow its presence in Africa.
AWS’s well-known Startup Loft Accelerator runs this program; unlike other cohorts, this one will focus on financial and related firms in Africa.
The AWS FinTech Africa Accelerator is a programme with no equity that helps founders learn how to raise money and gives them access to a wide range of resources, such as strategy, tech team management, and product development.
The AWS Activate program will give up to USD 25,000 in Activate Credits and many additional services to registered entrepreneurs. Founders will also participate in workshops and one-on-one sessions guided by experts in their field. These are meant to help each business deal with its own obstacles and prospects.
Applications for the accelerator are still open until April 27, 2023, for Africa’s pre-seed and seed-stage fintech firms.
This investment by the cloud service provider could boost the African fintech scene, which raised more than $2 billion in venture capital in 2022. It could do this by encouraging fintech startup ideas and innovations and, as a result, by making it easier for people in Africa to get money.
