This initiative aligns with Visa’s ambitious $1 billion commitment to support Africa’s digital economy by 2027.

The chosen startups – Oze, Workpay, OkHi, and ORDA – are tackling distinct challenges within the continent’s financial landscape.

Ghana-based Oze, one of the four, provides digital tools and embedded finance products tailored for small and medium enterprises (SMEs).

Oze’s offerings include a machine-learning-powered loan management system designed to streamline operations for financial institutions. =

Meanwhile, Kenya’s Workpay provides cloud-based HR and payroll solutions, extending its services to 35 African nations.

Nigeria’s OkHi offers a digital address verification system, and ORDA, also with a strong presence across Nigeria, Kenya, and South Africa, has developed cloud-based management software used by over 1,500 restaurants.

“These investments demonstrate Visa’s dedication to fostering innovation in Africa,” stated Godfrey Sullivan, Senior Vice President of Products, Partnerships, and Digital Solutions at Visa CEMEA.

“By supporting these remarkable fintech entrepreneurs, we’re working together to shape the future of digital payments on the continent.”

Launched in 2023, Visa’s Africa Fintech Accelerator has already empowered 45 startups through a robust 12-week curriculum that includes training, mentorship, and networking.

The accelerator’s third cohort began today in Abidjan, gathering 20 new digital innovators. More than just financial support, Visa’s involvement provides strategic guidance and credibility for these startups.

Workpay’s CEO, Paul Kimani, highlighted the importance of Visa’s backing: “Visa’s support pushes us closer to our goal of delivering innovative solutions and enhancing backend processes across Africa.”

The program has attracted attention from major tech firms, with Amazon Web Services (AWS) offering free cloud resources to participants.

The second cohort of startups is preparing for a Demo Day on December 2 in Cape Town, where they will present to venture capitalists, angel investors, and potential business partners.

Visa has hinted that additional investments and partnerships with program graduates are in the pipeline, signaling a bright future for Africa’s fintech landscape.