Visa, a world leader in digital payments, has invested in four graduates of the Visa Africa Fintech Accelerator, a 12-week programme of training, mentorship, and networking opportunities.
Mr Godfrey Sullivan, Senior Vice President, Products, Partnerships and Digital Solutions, Visa, made this known via a statement on Wednesday in Lagos.
Sullivan said the investments which had accelerated 45 start-ups across the continent, reflected the company’s dedication to championing digital innovation in Africa.
He said the initiative would help drive fintech growth across the continent while bolstering financial inclusion and access.
He said that the four start-ups, operating across multiple African countries are Oze, of Ghana; Workpay of Kenya; OkHi of Nigeria and ORDA, a cloud-based restaurant software across Nigeria, Kenya, and South Africa.
“The Visa Africa fintech accelerator programme is a three-month intensive program that supports Seed to Series A start-ups by offering 1:1 mentorship, training, and exclusive opportunities for funding and partnership.
“Launched in 2023, it aligns with Visa’s pledge to invest one billion dollars in the continent by 2027, helping to uplift and bolster its digital transformation.
“Visa sees each investment as a unique opportunity to drive financial access and inclusion, and we are proud to support these start-ups as they realize their vision for a more connected Africa,” he said.
Meghan McCormick, Chief Executive Officer, Oze, one of the start-ups, said the investment marked the latest pivotal moment in the firm’s journey.
She said it would enable them scale innovations to continue supporting Micro, Small and Medium Enterprises across Africa.
Timbo Drayson, Co-Founder, Okhi, said the start-up was thrilled to welcome Visa onboard as it continued to disrupt the industry and redefine what was possible through its identity verification solutions.
“The future is bright, and partnerships like this help us take a step forward toward achieving our vision,” Drayson said.
Guy Futi, Co-Founder, ORDA, expressed pride to have an established payment leader such as Visa to be part of its growth journey.
Futi said the company saw the investment as a mark of trust in its vision and looked forward to driving innovation together, one order at a time.
Also, Paul Kimani, Co-Founder, WorkPay, said the company was happy to have Visa in its corner.
“As a trusted leader in digital payments, Visa’s support pushes us toward our goal of delivering innovative solutions and streamlining backend processes for all,” he said.
The Visa Africa Fintech Accelerator program is supported by Amazon Web Services, which offers free cloud services to cohort participants.
Companies interested in Africa are invited to join and contribute to developing the next generation of fintech innovators, experiencing the transformative power of these partnerships.
