Visa Invests in Four African Startups from Fintech Accelerator Program
TLDR
- Visa invests in four African startups: Oze, Orda, WorkPay, and OkHi, through its Africa Fintech Accelerator program.
- The program, launched in 2023, reflects Visa's $1 billion investment commitment in African financial inclusion by 2027.
- The accelerator has supported 45 startups over two cohorts, resulting in 15 active partnerships.
Visa has made strategic investments in four African startups—Ghana's Oze, Nigeria's Orda, and Kenya's WorkPay and OkHi—following their participation in its Africa Fintech Accelerator program.
Launched in 2023, this initiative aligns with Visa's commitment to invest $1 billion in financial inclusion across Africa by 2027. To date, the accelerator has supported 45 startups over two cohorts, establishing 15 active partnerships. The first cohort's 23 startups received mentorship, technology credits, and investor networking opportunities.
Visa selected Oze, a business banking platform; Orda, a restaurant technology provider; WorkPay, an HR and payroll management firm; and OkHi, an AI-powered address verification service, for strategic investment. The second cohort is set to pitch to investors next month, and the third cohort, comprising 22 startups, has recently commenced.
Key Takeaways
Visa's investments in Oze, Orda, WorkPay, and OkHi underscore its dedication to fostering financial inclusion and innovation in Africa. By supporting startups that enhance money movement, empower small and medium-sized businesses, and develop financial solutions, Visa aims to strengthen the continent's fintech ecosystem. The ongoing accelerator program reflects Visa's strategy to identify and nurture high-potential ventures, contributing to Africa's digital economy and aligning with its broader investment goals in the region.
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