The Africa Fintech Accelerator programme initiated by Visa seeks to support African teams with business management training, mentoring, and seed funding.
The funding programme seeks to ensure that the beneficiaries will be empowered, mentored, and will gain resources and tools by investing $1 billion(Sh141.1 billion).
40 enterprises will benefit from the programme annually and undergo a three-month period.
They will also receive networking opportunities and connections that will be profitable to their upcoming micro businesses.
Through Visa technology and capabilities, fintech will be provided with capital investment for scalability.
Applications will officially be open starting from July to fintech from all African countries.
Interested parties can submit their applications through two application phases each year on the official website.
The finalists of this year will join the accelerator programme.
According to the Executive Chairman of Visa, Alfred F. Kelly Jr, Africa has the most exciting and admired fintech ecosystem globally.
“The next wave of innovation and growth comes from a young digital-first population that has an outstanding entrepreneurial talent,” Kelly Jr said.
“The programme will bring expertise, connections, and investment to Africa’s startups to grow at scale.”
