Visa, a global leader in digital payments, has announced investments in four promising African start-ups from its first Visa Africa Fintech Accelerator program, underscoring its commitment to fostering fintech innovation and expanding financial access across the continent.
Among the funded start-ups is Oze, a Ghana-based company providing digital tools and embedded finance for SMEs. Oze supports small businesses in managing transactions, accessing capital, and growing their operations. It also offers a Loan Management System (LMS) using machine learning for improved credit scoring, making loans more accessible for MSMEs.
Kenya’s Workpay, another beneficiary, delivers a cloud-based HR and payroll platform that spans employee lifecycle management. The platform offers payroll, time tracking, benefits, performance management, and Employer of Record services across 35 African countries.
OkHi, headquartered in Nigeria, focuses on digital address verification, which allows businesses to accurately collect and verify addresses, optimizing delivery efficiency and improving access to financial services. Rounding out the group is ORDA, a Nigerian-based restaurant software provider that digitalizes operations for over 1,500 restaurants across Nigeria, Kenya, and South Africa. ORDA’s platform enhances order processing, inventory management, and financial services to support restaurant growth.
The accelerator program, launched in 2023, provides Seed to Series A start-ups with mentorship, training, and partnership opportunities. It also reflects Visa’s $1 billion investment pledge to support Africa’s digital transformation by 2027.
Visa CEMEA’s Senior Vice President of Products, Partnerships, and Digital Solutions, Godfrey Sullivan, highlighted Visa’s vision: “These investments are a big step forward in supporting innovation in Africa, and we’re proud to work with the fintech talent helping to shape the continent’s digital future.”
Start-up leaders expressed excitement over Visa’s support. Meghan McCormick, CEO of Oze, noted, “This investment lets us scale our support for MSMEs across Africa, a mission close to our hearts.” Timbo Drayson, OkHi’s CEO, added, “Visa’s backing allows us to advance identity verification and pursue our vision.” Paul Kimani, CEO of Workpay, said, “Visa’s involvement drives our mission to streamline backend processes.” ORDA’s Co-Founder Guy Futi emphasized, “Visa’s partnership is a testament to our growth journey and vision.”
The accelerator’s second cohort will showcase their innovations at a Demo Day in Cape Town, South Africa, on December 2, attracting venture capitalists, investors, and partners. The program also benefits from Amazon Web Services (AWS), which provides free cloud support to participants.
