Visa, the world’s second-largest card payment processor, has strategically invested in four African startups as part of its $1 billion initiative to enhance financial inclusion across the continent.
These investments are part of Visa’s Africa Fintech Accelerator program, launched in June 2023. The biannual initiative supports startups with mentorship, technology resources, and networking opportunities, culminating in Demo Days. From the program’s first cohort of 23 startups, Visa selected four for strategic investment:
– Oze: A Ghanaian business banking platform.
– Orda: A Nigerian restaurant technology startup.
– WorkPay: A Kenyan HR and payroll management platform.
– OkHi: A provider of AI-powered address verification services.
“Our goal has been to uplift the brightest that are building solutions to unlock money movement, empower merchants and SMBs, and support financial inclusion in the continent,” Visa stated in a LinkedIn post.
The program’s second cohort, featuring startups like Raenest, Beem, and E-Doc, will pitch to Visa and other investors in December 2024. Meanwhile, the third cohort, consisting of 21 startups, including Bumpa, Kredete, WeWire, and Umba, has recently commenced.
