TechPression reported last month that Visa had launched a new initiative dubbed the “Visa Africa Fintech Accelerator” to support the rising number of start-ups on the continent by providing them with access to knowledge, resources, and investment.
Now, the payments technology company Visa has opened up applications for startups interested in joining the first cohort of the Visa Africa Fintech Accelerator programme.
The programme is targeted at African startups and will run for 12 weeks twice a year, with a maximum of 20 startups per cohort.
The announcement of the opening of applications was made during the Seamless North Africa conference, held on July 17 and 18 in Cairo under the auspices of the Prime Minister of Egypt, H.E. Dr. Mostafa Madbouly, and sponsored by the Central Bank of Egypt.
During a three-month time frame, the course will provide rigorous training and mentorship to up to 40 start-ups annually, allowing them to gain traction in their respective industries quickly.
Applying via the Visa website gives startups up to the Series A stage an opportunity to receive access to Visa’s unmatched knowledge, important industry connections, cutting-edge technology, as well as potential investment capital.
Read also: Vuleka wins Visa Everywhere Initiative competition
Plug and Play will provide insightful content
Visa’s Africa Fintech Bootcamp is part of the company’s larger effort to promote financial innovation and entrepreneurship throughout the continent. This accelerator provides Fintech entrepreneurs with a once-in-a-lifetime chance to get access to expert guidance, funding, and other chances. According to Visa CEMEA’s SVP and Head of Product, Partnerships, and Digital Solutions, Otto Williams.
The accelerator’s goals align with Visa’s commitment to spend $1 billion in Africa by 2027, with a particular emphasis on digitalizing economies, upskilling talent, and boosting capacity within the continent’s payment ecosystem.
The Visa Africa Accelerator will be working with Plug and Play, the world’s leading innovation platform, as a program partner. Over the course of the 12-week programme, Plug and Play will provide insightful content, provide accessibility to mentors, set up personalized coaching sessions, and connect startups to a global and regional network of investors.
The Visa Fintech Accelerator is seeking innovative firms that run and generate income on the African continent.
Startups in the fields of embedded finance, merchant and SME empowerment, financial infrastructure enablement, sustainable and inclusive finance, and payment processing ar hie especially encouraged to apply.
The application period will end on August 25th, with the first cohort notified in September.