Visa Invests $1 Billion in African Fintech: Meet The Four Startups Leading the Charge

Visa has announced fresh strategic investments in four innovative African startups—OkHi, WorkPay, Oze, and Orda—signalling a key milestone in its commitment to boost Africa’s fintech landscape with a $1 billion investment by 2027. The selected companies, hailing from Nigeria, Ghana, and Kenya, are the newest stars of Visa’s Africa Fintech Accelerator program, which aims to empower African fintech solutions with mentorship, technology, and funding.

Empowering Local Solutions for Global Impact

These startups tackle core needs within Africa’s financial ecosystem:

– Oze (Ghana) offers a business banking platform designed to empower small and medium-sized enterprises (SMEs) with essential financial tools.

– Orda (Nigeria) brings digital transformation to the restaurant sector through its streamlined management platform, allowing businesses to better navigate operations.

– WorkPay (Kenya) simplifies payroll and HR processes for remote teams, supporting Africa’s expanding digital workforce.

– OkHi (Nigeria) redefines address verification with AI-driven solutions, removing a key obstacle to accessing financial services for millions.

As Visa noted in a recent LinkedIn announcement, “Our goal has been to uplift the brightest minds building solutions to unlock money movement, empower merchants, and support financial inclusion.”

Strengthening Africa’s Fintech Ecosystem

Since its launch in 2023, the Visa Africa Fintech Accelerator has provided 45 startups with access to world-class mentorship, technology credits, and investment networks. These resources are designed to help startups scale solutions that meet the continent’s evolving financial needs. On December 2, 2024, Visa will host a Demo Day in Cape Town, where startups from the second cohort will showcase their innovations to potential investors and Visa executives.

Visa’s $1 billion commitment to Africa isn’t just an investment—it’s a testament to the continent’s rising role in global fintech. With this program, Visa is helping shape a fintech ecosystem that supports financial inclusion, broadens digital access, and positions Africa as a key player in financial technology on the global stage.