Visa has announced the launch of the Visa Africa Fintech Accelerator program, aimed at supporting Africa's growing startup community. The program will provide expertise, connections, technology, and investment funding to empower up to 40 startups each year. It will involve a three-month intensive learning program focused on business growth and mentoring. Visa plans to further support the fintech ecosystem by providing capital investment to select participating businesses and accelerating their commercial launch through access to Visa technology. The initiative follows Visa's recent commitment to invest $1 billion in Africa's digital transformation. Fintech startups across Africa can apply for the program, which will have two application phases each year, starting from July 2023. The program builds upon Visa's existing Visa Everywhere Initiative and aims to strengthen the payment ecosystem, drive innovation, and promote financial inclusion in Africa. Visa has been increasing its investments in Africa and has recently introduced various initiatives and programs, including establishing local operations in additional African countries, launching an innovation studio in Nairobi, introducing new payment technologies, and supporting women's empowerment and financial literacy programs.

Read more on BenjaminDada