• Investments have been made in four graduates of the Visa Africa Fintech Accelerator, a 12-week program of training, mentorship, and networking opportunities.
  • To date, the program has accelerated 45 start-ups across the continent.
  • The third cohort is set to kick-off on November 5th in Abidjan, welcoming 20 next-gen digital pan-African enablers.
Visa, a global leader in digital payments, announce strategic investments in four promising start-ups that have successfully completed our inaugural Visa Africa Fintech Accelerator program. These investments underscore Visa's unwavering commitment to fostering digital innovation across Africa, thereby driving fintech expansion and promoting financial inclusion and accessibility throughout the continent.

The four start-ups, operating across multiple African countries are:

  • Oze, based in Ghana. They provide digital record-keeping tools and embedded finance products to SMEs, helping them manage transactions, access affordable capital, and grow their businesses. Additionally, the startup offers a Loan Management System (LMS) for financial institutions, featuring machine learning-based credit scoring to enhance lending decisions and expand access to credit for MSMEs.
  • Workpay, a HR tech firm headquartered in Kenya. They offer a comprehensive cloud-based payroll and HR platform that manages the entire employee lifecycle, enabling payroll processing, time tracking, employee benefits administration, performance management and Employer of Record services in more than 35 countries across Africa.
  • OkHi based in Nigeria is a smart addressing system that provides digital address verification, enabling businesses to collect, verify, and navigate to accurate addresses, thereby improving delivery efficiency and access to financial services.
  • ORDA, a cloud-based restaurant software company digitizing over 1,500 restaurants across Nigeria, Kenya, and South Africa with tools for order processing, inventory management, and financial services to optimize operations and fuel growth.
Graduates of the second cohort of the program will have the opportunity to present their innovative capabilities during a Demo Day set to take place on December 2nd in Cape Town, South Africa, to an audience of venture capitalists, angel investors, ecosystem enablers and business partners.

The Visa Africa Fintech Accelerator program – is a three-month intensive program that supports Seed to Series A start-ups by offering 1:1 mentorship, training, and exclusive opportunities for funding and partnership. Launched in 2023, it aligns with Visa’s pledge to invest $1 billion in the continent by 2027, helping to uplift and bolster its digital transformation.

Godfrey Sullivan, Senior Vice President of Products, Partnerships and Digital Solutions for Visa CEMEA, said “These investments mark a substantial step for Visa – we are once again standing behind our commitment to innovation in Africa, helping to shape the future of digital payments alongside some of the brightest fintech minds that the continent has to offer. Visa sees each investment as a unique opportunity to drive financial access and inclusion, and we are proud to support these start-ups as they realize their vision for a more connected Africa.”

Meghan McCormick, the Chief Executive Officer at Oze, stated that this investment represents a significant milestone in the company's growth journey. It will enable Oze to expand its innovative solutions and continue providing support to micro, small, and medium-sized enterprises (MSMEs) across Africa, a shared passion between Oze and its shareholders.

Timbo Drayson, the Co-Founder and CEO of Okhi, expressed his delight in welcoming Visa as a partner in their endeavor to revolutionize the industry and redefine the boundaries of identity verification solutions. He emphasized the promising future ahead and highlighted the significance of such collaborations in propelling their vision forward.

Guy Futi, Co-Founder of ORDA, expressed his delight in securing Visa's participation in their growth trajectory. He emphasized the significance of this investment as a testament to the trust placed in their vision. Mr. Futi conveyed his anticipation for a collaborative pursuit of innovation, aiming to drive progress one order at a time.

Paul Kimani, the Co-Founder and CEO of WorkPay, expressed his delight in having Visa as a partner. He acknowledged Visa's position as a respected leader in the digital payments industry and emphasized that their support propels WorkPay towards achieving its objective of providing cutting-edge solutions and optimizing backend processes for all.

Additional investments and commercial partnerships with the program’s graduates are being finalized and will be announced soon.

The Visa Africa Fintech Accelerator program is supported by Amazon Web Services (AWS), which offers free cloud services to cohort participants. Companies interested in Africa are invited to join and contribute to developing the next generation of fintech innovators, experiencing the transformative power of these partnerships.