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Visa unveils 20 start-ups for second cohort of Africa Fintech Accelerator programme

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Visa has unveiled the 20 start-ups that will make up the second cohort of its Africa Fintech Accelerator.

The biannual programme offers 12 weeks of one-on-one mentorship and personalised training for providing seed to series A start-ups.

Nigeria reportedly had the most presence among the 20 start-ups, with six fintechs selected for the second cohort, according to Hypertext.

In June last year, Visa announced the launch of its Africa Fintech Accelerator programme, with the biannual initiative aiming to identify and assist promising fintech-focused start-ups on the Africa continent.

Read more: Rwandan President, Kagame, scraps visa fees for African countries

With the first cohort having gone through the programme, now Visa is getting ready for the second cohort, confirming the 20 start-ups that would be taking part.

“As part of Visa’s work to unlock financial innovation across the continent, the biannual programme offers 12 weeks of 1:1 mentorship and personalized training, providing seed to series A start-ups with exclusive opportunities to access funding, development, and resources.

“Cohort 2 start-ups operate across 28 African countries, a 55 percent increase from Cohort 1 where the representatives operated across 18 countries. 65 percent of them feature female leadership, rising from 43 percent in the inaugural edition,” the company explained in a release shared with Hypertext.

Looking closer at the start-ups chosen for this second cohort, Nigeria had the biggest representation, with six start-ups involved.

Other countries which had made it to the list included Kenya, Tanzania, Ivory Coast, Cameroon, Democratic Republic of Congo, South Africa and Ethiopia.

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