Grace Ashiru
Visa, the world’s second-largest card payment processor, has announced strategic investments in four African startups as part of its ambitious $1 billion commitment to advancing financial inclusion across the continent. This move aligns with Visa’s broader vision of fostering innovation in Africa’s fintech ecosystem.
These startups are participants in Visa’s biannual Africa Fintech Accelerator program, which launched in June 2023. The program welcomed 23 startups into its inaugural cohort, offering mentorship, technology credits, and opportunities to pitch to potential investors during Demo Day. Out of these 23 startups, only four were chosen for strategic investment by Visa.
The selected companies include Oze, a Ghanaian business banking platform; Orda, a Nigerian startup specializing in restaurant technology solutions; WorkPay, a Kenyan HR and payroll management firm; and OkHi, a cutting-edge startup leveraging AI to provide address verification services.
“Our mission has always been to elevate the brightest minds developing solutions that drive money movement, empower merchants and small businesses, and foster financial inclusion across the continent,” the company shared in a LinkedIn post announcing the programme.
The second cohort of startups, which includes Raenest, Beem, E-Doc, and others, is set to pitch their ideas to Visa and other investors during a Demo Day in December 2024.
Additionally, Visa has launched the third cohort of its accelerator programme, featuring startups such as Bumpa, Kredete, WeWire, Umba, along with 18 other innovative participants.
