Visa, a global leader in digital payments, announced on Thursday the successful conclusion of the Demo Day for the second cohort of the Visa Africa Fintech Accelerator programme.
The exclusive event took place on December 2, 2024, in Cape Town, South Africa, and provided a platform for 23 innovative fintech startups to present their groundbreaking solutions to an audience of venture capitalists, angel investors, ecosystem enablers, and business partners.
The second cohort’s Demo Day was a culmination of a 12-week intensive program that included training, mentorship, and networking opportunities. The highlights of the event included startup pitches from three batches representing different regions of Africa—West Africa, North Africa, and East & South Africa.
The Demo Day serves as a pivotal moment for the participants of the Visa Africa Fintech Accelerator program, offering unparalleled visibility and opportunities for growth and investment. By showcasing their innovative solutions to a curated audience of key ecosystem players and potential funding partners, the startups gain valuable exposure and the chance to form strategic collaborations that can propel their businesses forward.
Aida Diara, Senior Vice President and Head of Visa Sub-Saharan Africa at Visa said: “I am incredibly impressed by the innovative solutions presented by the startups. Their creative approaches to solving financial challenges are truly inspiring. We are immensely proud to support these fintech pioneers, who are driving digital transformation and showcasing remarkable potential for growth and scalability. At Visa, we are committed to providing these visionary entrepreneurs with the platform and resources they need to succeed and make a significant impact.”
The Visa Africa Fintech Accelerator programme is a three-month intensive initiative designed to support Seed to Series A startups by offering one-on-one mentorship, training, and exclusive opportunities for funding and partnership. Launched in 2023, the program aligns with Visa’s commitment to invest $1 billion in Africa by 2027, aiming to uplift and bolster the continent’s digital transformation.
To date, the programme has accelerated 45 startups across Africa, providing them with the tools and resources needed to scale their innovations and drive financial inclusion.
The third cohort of the program commenced on November 5th in Abidjan, welcoming 19 next-gen digital pan-African enablers. These startups operate across 21 African countries with 85% of them featuring female leadership, rising from 43% in the inaugural edition and 65% in the second edition. A trend that Visa is committed to accelerating.