Visa launches second phase of Africa Fintech Accelerator programme

Global digital payment company Visa has announced the launch of the second round of its Africa Fintech Accelerator programme to improve the digital payments.

Startups interested in joining the programme can submit their applications through the Visa website, with the application window remaining open until 29 February, as per the statement.

To kick off the programme, Visa will be hosting the first demo day on 13 February in Nairobi.

During the demo day, the first round of startups will present their innovations to influential players in the ecosystem, funding partners, angel investors, and venture capitalists.

The first round, launched in June 2023, featured startups from over 18 African countries, including three from Morocco, one from Egypt, and one from Tunisia.

These participants were selected from a pool of more than 1,000 applicants spanning diverse subsectors.

Meanwhile, 48 percent of the companies either had women founders or included women in their leadership teams.

Following the completion of the programme, Visa plans to extend its support to fintech growth by investing capital in select participating businesses. Additionally, these businesses will receive assistance in expediting their commercial launch through access to Visa's technology and capabilities.

The launch of the second round of this programme came as a result of the success witnessed during the first round aimed at bolstering Africa's burgeoning fintech ecosystem, said Leila Serhan, senior vice president and group country manager for North Africa, Levant, and Pakistan (NALP) at Visa.