Visa, the world’s second-largest card payment processor, has invested in four African startups as part of its $1 billion commitment to advancing financial inclusion across the continent. The investments are part of Visa’s Africa Fintech Accelerator, a program launched in June 2023 that offers selected startups mentorship, technology credits, and investor connections.
From the accelerator’s first cohort of 23 startups, Visa chose four for strategic investment:
- Oze (Ghana): A business banking platform
- Orda (Nigeria): A tech startup serving the restaurant industry
- WorkPay (Kenya): An HR and payroll management platform
- OkHi: A Kenya-based AI-powered address verification service
“Our goal has been to uplift the brightest that are building solutions to unlock money movement, empower merchants and SMBs, and support financial inclusion in the continent,” Visa shared in a LinkedIn post about the program.
The accelerator’s second cohort, which includes companies like Raenest, Beem, and E-Doc, will present to Visa and other investors at a Demo Day in December 2024.
Visa has also launched its third cohort, adding startups such as Bumpa, Kredete, WeWire, Umba, and 18 others.
