Innovation Visa Accelerates Africa’s Fintech Future: Innovation, Inclusion, and Impact at 4th Cohort Demo Day

Earlier this month, Cape Town hosted a milestone moment for Africa’s fintech ecosystem as Visa convened the 4th Cohort Demo Day under its Visa Africa Fintech Accelerator program. The gathering of founders, investors, and industry leaders underscored one powerful message: Africa’s digital commerce revolution is scaling faster, broader, and more inclusively than ever before.

In just three months, 22 high-growth fintech startups from 12 African countries accelerated their go-to-market strategies and unlocked new avenues for regional expansion. Their ingenuity reflects a vibrant ecosystem powered by local insights and global ambition — a defining characteristic of Africa’s modern tech story.

Rince Jacobs, Founder & CEO of Zazu — a Pan-African digital banking platform for entrepreneurs and SMEs — shares how the Visa Africa Fintech Accelerator has shaped Zazu’s growth journey.

Championing Women-Led Innovation

This year’s cohort was also marked by a strong presence of women‑led innovation, with eight female founders and 90% of startups featuring women in leadership — reaffirming Visa’s belief that diversity is a multiplier for impact. From digital lending and payments to financial empowerment platforms, these women-led ventures are redefining access and opportunity within Africa’s financial landscape.

Building on this momentum is Flend, an SME financing platform delivering data-driven credit solutions to small businesses. By leveraging alternative credit-scoring infrastructure, Flend helps entrepreneurs overcome long-standing barriers to finance and unlock sustainable growth. Hear from Nehal Helmy, Co-Founder & Chief Strategy and Corporate Affairs Officer of Flend, in the video below.

Building Pathways to Scale

Beyond recognition, the Visa Africa Fintech Accelerator program provides what many startups need most: structured pathways to scale. Through expert mentorship, tailored product and marketing support, and access to Visa’s powerful global network, fintech founders gain the tools and partnerships to sustain long-term growth.

Collaboration sits at the heart of this model. This year’s program deepened ties with strategic partners — Bank of Africa, Onafriq, and First Bank of Nigeria Ltd — whose market insights and operational reach enriched the accelerator experience. Together, these partnerships are unlocking new commercial opportunities while reinforcing the continent’s financial connectivity.

Hear from Dare Okoudjou, Founder & CEO of Onafriq, and Ayodeji Aina, Head of Enterprise Innovation at First Bank of Nigeria, as they highlight the role of partnerships in driving fintech innovation across Africa — and how the Visa Africa Fintech Accelerator program creates the infrastructure and connections emerging fintechs need to scale.

A Thriving Sector on a Transformative Trajectory

Africa’s fintech sector continues to be the engine of its venture ecosystem. According to McKinsey, fintech revenues on the continent could soar to USD 47 billion by 2028, up from USD 10 billion in 2023¹. The number of active fintech firms has nearly tripled in just four years, reaching over 1,200 companies by early 2024, according to the European Investment Bank².

With a cumulative portfolio valuation now exceeding USD 1.3 billion across 86 startups, the Visa Africa Fintech Accelerator stands as both a testament to and a driver of this momentum. Its alumni are not only scaling new markets but also catalyzing the next wave of digital financial inclusion for individuals and small businesses.

Shiga Digital, part of this year’s cohort, is simplifying cross-border payments for African businesses through blockchain-powered finance tools. Hear from Co-Founders Abiola Shogbeni and Dami Etomi in the video below.

Powering Africa’s Next Chapter of Digital Growth

As fintech continues reshaping how Africans transact, save, and invest, Visa remains committed to be an enabler of innovation that is inclusive, connected, and sustainable. By nurturing diverse founders and forging cross-sector partnerships, Visa is helping shape an Africa where financial access becomes universal and digital commerce a catalyst for shared prosperity.

¹ https://www.mckinsey.com/industries/financial-services/our-insights/redefining-success-a-new-playbook-for-african-fintech-leaders

² https://www.eib.org/en/press/all/2024-435-eib-finance-in-africa-2024-fintech-transforms-african-financial-services-but-high-funding-costs-hinder-climate-and-digital-transitions