Global card payment processor Visa (NYSE:V)has made strategic investments in four African startups—Ghana’s Oze, Nigeria’s Orda, and Kenya’s WorkPay and OkHi—following their participation in the company’s Africa Fintech Accelerator program.
The initiative, launched in 2023, is part of Visa’s broader commitment to invest $1 billion in financial inclusion across Africa by 2027.
The Africa Fintech Accelerator program has supported 45 startups across two cohorts, fostering innovation in financial technology and establishing 15 active partnerships.
Participants in the program receive mentorship, technology credits, and opportunities to showcase their solutions to potential investors during demo days. Of the 23 startups in the first cohort, Visa selected four for direct strategic investment.
The chosen startups represent a diverse range of solutions addressing financial and operational challenges in the region. Oze, based in Ghana, is a business banking platform designed to streamline financial management for small and medium-sized enterprises (SMEs).
Nigeria’s Orda offers restaurant technology solutions, helping businesses optimize operations. Kenya’s WorkPay provides HR and payroll management services, while OkHi, also from Kenya, focuses on AI-powered address verification to improve financial accessibility and logistics.
Visa emphasized the importance of empowering startups that drive financial inclusion and enable seamless money movement across the continent.
In a LinkedIn post, the company highlighted its commitment to supporting innovative solutions for merchants, SMEs, and underserved communities in Africa.
The second cohort of the accelerator program will culminate in a demo day next month, during which participants will pitch their solutions to Visa and other investors.
Meanwhile, Visa has already launched the third cohort, which includes 22 startups, further demonstrating its dedication to fostering Africa’s fintech ecosystem.
This strategic initiative aligns with Visa’s mission to leverage technology and innovation to expand financial services and enhance economic opportunities in Africa, a region with immense growth potential in the fintech space.
