Visa recently hosted its second Demo Day for the Africa Fintech Accelerator program, bringing together 23 pioneering fintech startups in Cape Town, South Africa.
The event provided a platform for these startups to pitch their innovative solutions to an audience of venture capitalists, angel investors, business partners, and ecosystem enablers.
Read also: Innovative corporate cards: Swypex, Visa modernise business payments in Egypt
Celebrating African innovation
Aida Diara, Senior Vice President and Head of Visa Sub-Saharan Africa, commended the participants for their ingenuity and transformative ideas. “I am incredibly impressed by the innovative solutions presented by the startups. Their creative approaches to solving financial challenges are truly inspiring. We are immensely proud to support these fintech pioneers, who are driving digital transformation and showcasing remarkable potential for growth and scalability,” Diara said.
The Demo Day marked the culmination of a 12-week intensive program designed to equip startups with training, mentorship, and networking opportunities. It featured pitches from three batches of startups representing regions across Africa, including West Africa, North Africa, and Southern Africa.
A platform for growth and collaboration
Visa’s Africa Fintech Accelerator program is an initiative aimed at supporting Seed to Series A startups in scaling their operations. Launched in 2023, the program offers one-on-one mentorship, funding opportunities, and strategic partnerships, aligning with Visa’s broader commitment to invest $1 billion in Africa by 2027.
To date, the accelerator has empowered 45 startups, providing resources and tools to enhance their innovations and drive financial inclusion across the continent. Demo Day is a pivotal moment for participants, offering exposure to key ecosystem players and opportunities to forge partnerships that can propel their growth.
Read also: Kenyan students present flood mitigation solution at LEAP Digital Talent Camp in China
Expanding impact and inclusivity
The third cohort of the program kicked off on November 5 in Abidjan, Côte d’Ivoire, with 19 startups operating across 21 African countries. Notably, 85 percent of these startups feature female leadership—a significant increase from 43 percent in the inaugural cohort and 65 percent in the second. This reflects Visa’s ongoing commitment to fostering inclusivity and empowering women in fintech.
Visa’s Africa Fintech Accelerator is more than just a program; it is a transformative initiative that underscores the company’s dedication to Africa’s digital transformation. By nurturing talent and providing a robust support framework, Visa continues to champion the innovations shaping the future of financial services on the continent.
This commitment to growth, inclusivity, and innovation positions Visa as a key driver in Africa’s journey towards greater financial inclusion and technological advancement.