In a groundbreaking move, global payments giant Visa has unveiled the inaugural cohort of its Africa Fintech Accelerator, featuring 23 startups from nine African countries.
Nigeria leads the cohort, with startups like Anchor, Dojah, Moni, and Orda Africa securing a spot. The accelerator offers tailored mentoring, Visa-specific training, partnership opportunities, and undisclosed funding, along with product perks worth $200,000.
Among the Nigerian startups is Anchor, backed by Y Combinator, providing APIs for banking products. Dojah, another YC-backed venture, focuses on comprehensive Know Your Customer (KYC) solutions. Moni, a leading Nigerian financial institution, specializes in high-interest savings and loans. Orda Africa, modeled after US-based Toast, secures funding from Quona Capital and others.
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Ghanaian startups include OZÉ, providing digital recordkeeping tools, Blu Penguin offering an in-store Point of Sale system, and AgroCenta, a mobile merchant platform for farmers.
Kenya contributes Duhqa, a B2B platform for retail distribution, Power offering holistic financial services, and Workpay, a YC-backed HR payroll provider.
Visa’s move underscores the dynamism of Africa’s fintech sector, with the accelerator aiming to foster innovation, growth, and financial inclusion. Notably, Visa has a history of direct investments in African fintech, further enhancing its commitment to the continent’s growing tech ecosystem.