Digital payments giant Visa is calling on fintech innovators in Egypt and across Africa to apply for the sixth cohort of its Africa Fintech Accelerator program. The announcement follows a major milestone for the initiative, which has now supported over 100 startups since its launch, with participating companies reaching a collective valuation of $1.4 billion.
Quick Facts
- Over 100 startups supported across five cohorts.
- Program alumni hold a combined valuation of $1.4 billion.
- Applications for the sixth cohort are now open.
Showcasing Innovation at GITEX Africa
The call for new applicants came after 18 startups from 10 African countries showcased their solutions at the fifth cohort’s Demo Day, held during GITEX Africa in Marrakech. The event brought together founders, investors, and industry leaders to see the progress of companies that completed the intensive three-month program. The participating startups are active across 28 African markets, building solutions for a wide range of commerce and financial service needs on the continent.
Godfrey Sullivan, Senior Vice President and Head of Products and Solutions for Central and Eastern Europe, Middle East, and Africa at Visa, commented on the program’s impact. “The special aspect of Africa’s fintech story lies in the growing spirit of collaboration between entrepreneurs, partners, and industry leaders,” he stated. “After supporting more than 100 startups, it’s clear how this collaboration can accelerate growth, expand financial inclusion, and shape the future of digital commerce on the continent.”
MENA Success Stories Drive Collaboration
The program has produced notable collaborations involving MENA-based alumni. Morocco’s Chari, an alumnus from the first cohort, is working with Zazu, a graduate of the fourth cohort, to launch a digital bank for SMEs. The new venture leverages Chari’s issuing capabilities, which were previously enabled with support from Visa.
Meanwhile, Egypt’s MoneyHash, a graduate of the third cohort, has entered a multi-year partnership to activate Visa’s Cybersource service on its platform. This integration enhances MoneyHash’s payment acceptance and e-commerce capabilities for its clients across the Middle East and North Africa region.
Other alumni are also scaling their operations. Kredete, a third-cohort graduate, is issuing stablecoin-linked cards and, after positive initial results in several African markets, is now looking to expand into the Gulf countries.
About Visa Africa Fintech Accelerator
Launched to support Africa’s burgeoning fintech ecosystem, the Visa Africa Fintech Accelerator provides startups with mentorship, strategic guidance, and commercial collaboration opportunities. The program gives founders access to Visa’s global network, helping them scale their businesses, refine their products, and unlock new growth avenues. Innovators interested in the sixth cohort can apply via the Visa Accelerator website before the deadline.
Source: Pioneers Misr
