Visa has announced strategic investments in four African fintech startups today, marking a significant step in its $1 billion commitment to the continent’s digital transformation by 2027. The companies – Oze, Workpay, OkHi, and ORDA – all graduated from the first cohort of Visa’s Africa Fintech Accelerator program.
Each startup addresses distinct challenges in Africa’s digital economy. Ghana-based Oze provides digital tools and embedded finance products for SMEs, including a machine learning-powered loan management system for financial institutions.
Workpay, headquartered in Kenya, offers cloud-based HR and payroll solutions across 35 African countries. Nigerian startup OkHi has developed a smart addressing system for digital address verification, while ORDA provides cloud-based restaurant management software currently used by over 1,500 establishments across Nigeria, Kenya, and South Africa.
“These investments mark a substantial step for Visa – we are once again standing behind our commitment to innovation in Africa, helping to shape the future of digital payments alongside some of the brightest fintech minds that the continent has to offer,” said Godfrey Sullivan, Senior Vice President of Products, Partnerships, and Digital Solutions for Visa CEMEA.
The accelerator program, launched in 2023, has already supported 45 startups across the continent through its 12-week curriculum of training, mentorship, and networking opportunities. The third cohort commenced today in Abidjan, bringing together 20 new digital innovators.
For the startups, Visa’s backing represents more than just capital. WorkPay’s Co-Founder and CEO, Paul Kimani, noted: “We are happy to have Visa in our corner. As a trusted leader in digital payments, Visa’s support pushes us toward our goal of delivering innovative solutions and streamlining backend processes for all.”
The program’s success has attracted support from major tech players, with Amazon Web Services (AWS) providing free cloud services to participants. The second cohort is preparing for their Demo Day on December 2 in Cape Town, where they will present to venture capitalists, angel investors, and potential business partners. Visa has indicated that additional investments and commercial partnerships with program graduates are currently being finalized.
