Fintech
Visa enrolls 22 African fintech startups in accelerator program
Visa has welcomed 22 startups from across Africa into its fintech accelerator program. This 12-week program offers mentorship, training, networking opportunities and access to funding for fintech startups. These startups, representing different solutions, will embark on the programme, which aims to revive the continent’s financial landscape.
Leila Serhan, Visa Group Vice President and Country Manager for North Africa, the Levant and Pakistan, said in a statement about Zawya: “At Visa, we believe in uplifting innovation, while promoting access and inclusion across the financial ecosystem. Today we are proud to say that our second group of Accelerator participants represents more than 50% of African countries, compared to a third of our first group.”
“Not only that, but women hold leadership roles in the majority of these cutting-edge startups. We have a strong and diverse selection of innovators looking to shape the future of commerce and finance – and Visa is happy to help them take the next step towards where they need to be.”
Introduced in Cairo, Egypt, Visa Cohort 2 has a 65% representation of female-led startups. Selected from 28 African countries, these companies offer various solutions, from neo-banking to social commerce, ready to address the urgent challenges and opportunities of the African market. fintech
ecosystem.
In-person demo day
The program will culminate in a live Demo Day, during which startups will present their innovations to key stakeholders, investors and venture capitalists.
Recently, Visa finalized an agreement with US merchants, capping swipe fees for the next five years. After years of legal wrangling, this agreement aims to resolve a long-standing disagreement with merchants, especially small businesses. Kimberly Lawrence, Visa president of North America, highlighted the importance of directly addressing the concerns of small businesses, recognizing the critical role they play in the economy.
Also, the UK payments regulator recently
raised concerns on the sharp increases in commissions imposed by Visa and Mastercard on retailers, complaining of a lack of competitiveness in the payment card market. Despite the substantial increase in fees, the regulator said there was little evidence that these costs had led to better services.
However, Visa has defended its fees by highlighting the value it offers through security and operational resilience. Mastercard similarly disputed the claims, arguing that the payments industry is highly competitive, with numerous options available to consumers.
Visa has welcomed 22 startups from across Africa into its fintech accelerator program. This 12-week program offers mentorship, training, networking opportunities and access to funding for fintech startups. These startups, representing different solutions, will embark on the programme, which aims to revive the continent’s financial landscape.
Leila Serhan, Visa Group Vice President and Country Manager for North Africa, the Levant and Pakistan, said in a statement about Zawya: “At Visa, we believe in uplifting innovation, while promoting access and inclusion across the financial ecosystem. Today we are proud to say that our second group of Accelerator participants represents more than 50% of African countries, compared to a third of our first group.”
“Not only that, but women hold leadership roles in the majority of these cutting-edge startups. We have a strong and diverse selection of innovators looking to shape the future of commerce and finance – and Visa is happy to help them take the next step towards where they need to be.”
Introduced in Cairo, Egypt, Visa Cohort 2 has a 65% representation of female-led startups. Selected from 28 African countries, these companies offer various solutions, from neo-banking to social commerce, ready to address the urgent challenges and opportunities of the African market. fintech
ecosystem.
In-person demo day
The program will culminate in a live Demo Day, during which startups will present their innovations to key stakeholders, investors and venture capitalists.
Recently, Visa finalized an agreement with US merchants, capping swipe fees for the next five years. After years of legal wrangling, this agreement aims to resolve a long-standing disagreement with merchants, especially small businesses. Kimberly Lawrence, Visa president of North America, highlighted the importance of directly addressing the concerns of small businesses, recognizing the critical role they play in the economy.
Also, the UK payments regulator recently
raised concerns on the sharp increases in commissions imposed by Visa and Mastercard on retailers, complaining of a lack of competitiveness in the payment card market. Despite the substantial increase in fees, the regulator said there was reportedly little evidence that these costs had led to better services.
However, Visa has defended its fees by highlighting the value it offers through security and operational resilience. Mastercard similarly disputed the claims, arguing that the payments industry is highly competitive, with numerous options available to consumers.