Visa has announced new investments in four African fintech startups from the first cohort of its Visa Africa Fintech Accelerator Program. The specific amounts invested in each startup have not been disclosed. The selected startups include OZÉ from Ghana, which provides embedded financial services for small- to medium-sized businesses (SMBs).
Workpay from Kenya is an HR tech platform that supports payroll and compliance. Pngme from Nigeria offers digital address verification. Orda, based in Nigeria, Kenya, and South Africa, is a restaurant software provider digitizing operations for over 1,500 restaurants.
Visa backs African fintech growth
The Visa Africa Fintech Accelerator, launched in 2023, is a three-month program offering seed to Series A startups mentorship, training, funding opportunities, and partnerships. Visa’s accelerator forms part of a broader commitment to invest USD 1 billion in Africa by 2027, focusing on digital transformation initiatives.
Godfrey Sullivan, senior vice president of products, partnerships, and digital solutions for Visa CEMEA, said in a release, “These investments mark a substantial step for Visa — we are once again standing behind our commitment to innovation in Africa, helping to shape the future of digital payments alongside some of the brightest FinTech minds that the continent has to offer. Visa sees each investment as a unique opportunity to drive financial access and inclusion, and we are proud to support these startups as they realize their vision for a more connected Africa.”
Visa welcomed its second cohort to the program in January, building on the success of the inaugural accelerator program launched in June 2023. Graduates of the second cohort will be able to present their capabilities to venture capitalists, angel investors, ecosystem enablers, and business partners during a Demo Day on Dec.
2 in Cape Town, South Africa.
