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Visa, a global digital payments leader, has announced investments in four African fintech startups that recently graduated from its first Visa Africa Fintech Accelerator program. This initiative highlights Visa’s dedication to advancing innovation and financial inclusion across Africa, reinforcing its commitment to the continent’s economic growth.
Although Visa has not disclosed the specific investment amounts, the funding will enable these startups to scale their operations and broaden their reach. The four funded startups include:
- Oze (Ghana): A fintech solution empowering small and medium-sized enterprises (SMEs) with digital tools for record-keeping and embedded financial services.
- Workpay (Kenya): A comprehensive HR and payroll platform that serves businesses across 35 African countries, helping to streamline workforce management.
- OkHi (Nigeria): A smart addressing system designed to enhance delivery logistics and expand financial access, particularly for underserved communities.
- ORDA (Nigeria, Kenya, South Africa): A solution for restaurant operations that digitizes order processing, inventory management, and financial tracking.
Godfrey Sullivan, Senior Vice President of Products, Partnerships, and Digital Solutions at Visa CEMEA, stated, “These investments offer Visa the chance to foster financial inclusion and access across Africa. We’re excited to support these startups in their journey toward a more connected and inclusive continent.”
This move aligns with Visa’s commitment of $1 billion to bolster its presence and support partnerships and technology deployment across Africa. Launched in 2023, the Visa Africa Fintech Accelerator program provides seed-to-Series A startups with mentorship, training, and funding opportunities. With the second cohort set to begin in January 2024, Visa continues to strengthen its role in driving fintech innovation across the African continent.
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