In Cape Town, Visa has unveiled the fourth cohort of its African fintech accelerator programme. The results are striking: 22 startups from 12 nations across the continent, operating across 31 markets, with a cumulative valuation of $1.3 billion across all four cohorts. A powerful signal confirming that Africa has become a global laboratory for financial innovation.
Diversity and Gender Parity at the Heart of the Programme
This 4th cohort reflects Visa's pan-African ambition. Selected startups represent 12 different countries and operate in 31 markets. A standout feature: 8 female founders lead startups in this cohort, and 90% feature female leadership. Four North African startups were particularly highlighted: Flend and Mnzl (Egypt), Hsabati and Woliz (Morocco), illustrating the rise of fintech beyond sub-Saharan Africa.
A Market Set to Reach $47 Billion by 2028
McKinsey's projections capture the scale of the opportunity: African fintech revenues could reach $47 billion by 2028, up from around $10 billion in 2023 — nearly a fivefold increase in five years. The number of active fintechs nearly tripled between 2020 and early 2024, growing from 450 to 1,263 companies. Visa's accelerator, which has backed 86 startups since launch, plays a structuring role in this ecosystem.
360-Degree Support for Selected Startups
Selected startups receive mentorship, product design and financial structuring guidance, and access to a network of strategic partners including Bank of Africa, Onafriq and First Bank of Nigeria. This cross-accelerator model — technical expertise, banking roots, distribution networks — sets the Visa programme apart from traditional incubators.
Why It Matters
Africa still has a majority unbanked population — but that is precisely the open terrain attracting investors and entrepreneurs. The Visa programme does not just fund startups: it builds the invisible infrastructure of Africa's future financial system, training teams, forging connections and normalising business models that work without physical bank branches. For Indian Ocean players — Mauritius, Seychelles — looking to strengthen their financial centres, these fintechs represent directly adaptable partners and innovations.