Visa, a leading global payments technology company, has announced a strategic investment in four promising African startups: Ghana’s Oze, Nigeria’s Orda, Kenya’s WorkPay, and OkHi. These companies, all graduates of Visa’s Africa Fintech Accelerator, were chosen for their innovative solutions that aim to address significant challenges in financial access and digital payments across Africa. Visa’s Africa Fintech Accelerator program, launched in 2023, is part of the company’s broader commitment to invest $1 billion in African economic and financial inclusion by 2027, recognizing the continent’s fast-growing digital economy and the need for greater financial accessibility.
Since its inception, the accelerator has supported 45 startups across two cohorts, nurturing their growth through mentorship, technological support, and investor connections. As a result, Visa has already established 15 active partnerships from the initial cohorts, demonstrating the program’s focus on creating long-term, sustainable relationships with African fintech companies. The selection of Oze, Orda, WorkPay, and OkHi for direct investment reflects Visa’s endorsement of these companies’ contributions to expanding financial services in underserved areas.
Ghana’s Oze offers digital banking services tailored to small and medium-sized enterprises (SMEs), enabling them to manage finances and access vital banking tools. Orda, based in Nigeria, provides restaurant management technology that streamlines operations and supports the growth of local businesses. Meanwhile, Kenya’s WorkPay addresses payroll and HR management needs, offering a solution to businesses that lack infrastructure in these critical areas. OkHi, also from Kenya, uses AI to provide address verification, a crucial service for expanding digital finance access to regions with limited formal address systems.
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Visa has highlighted the importance of supporting fintech innovators who are not only developing groundbreaking solutions for the African market but also contributing to economic growth and financial inclusion. Visa’s LinkedIn post emphasized the program’s aim to empower merchants, small and medium-sized businesses, and underserved communities by facilitating seamless digital transactions and ensuring safer, more inclusive financial ecosystems.
The Africa Fintech Accelerator’s second cohort will showcase their progress to Visa and other investors at an upcoming demo day, an event that serves as a platform for further investment and collaboration. Visa’s third cohort, consisting of 22 new startups, has already commenced, signaling an ongoing commitment to fostering innovation and digital transformation across Africa. Through this initiative, Visa is both supporting Africa’s emerging fintech sector and laying the groundwork for future growth by helping local businesses and communities gain access to essential financial services.
