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Exploring Africa’s blossoming fintech ecosystem, The Fintech Occasions delves into the success of Visa’s Accelerator Program from the cohort’s perspective, uncovering this system’s instrumental position in fostering and bolstering startups throughout the continent.
Going down nearly over the course of 12 weeks, The Visa Africa Fintech Accelerator program goals to assist the expansion of fintech startups throughout the continent. The primary version of the accelerator noticed a cohort of 23 startups from nations throughout Africa obtain assist by way of experience, connections, know-how, and funding funding.
Following this system, Visa plans to additional assist the fintech startups with funding and different assets with a view to assist speed up their development and make a major influence on the African digital financial system.
As a part of a particular video interview collection, Simon Ward, CEO and Founding father of Floatpays, an worker advantages firm that goals to advertise monetary inclusion for everyone, sat down with The Fintech Occasions to share his ideas on the African market, in addition to the corporate’s involvement with the Visa accelerator.
A maturing ecosystem
Contemplating the present African ecosystem, Ward mentioned that “maturing” is essentially the most acceptable description, believing there’s potential for fintechs to take maintain within the monetary world.
He mentioned: “There’s a number of enthusiasm in partnering with fintechs, which in our sense didn’t exist some time in the past. It was very a lot conventional enterprise and conventional banks, however as we transfer ahead, we’re seeing extra of these sorts of conventional organisations desirous to associate with startups to drive innovation by means of these ecosystems. It’s undoubtedly a maturing panorama and a really thrilling one.”
It’s an curiosity in partnerships that was significantly beneficial for Floatpays in the course of the Visa Accelerator, with introductions to the opposite members of the cohort being a key facet of their involvement.
“Assembly the opposite 22 startups within the group has been extraordinarily beneficial to us,” he defined. “To grasp their challenges, what they’re doing, what Africa means to them of their particular area and potential partnerships which might come from that was incredible. There are a number of collaborations and concepts which might truly formulate new enterprise pondering by means of this system.”
Trade expertise
The advantages of this system have been exponential to the startups concerned, with Ward explaining it has been an “thrilling few months to be part of the Visa Fintech Accelerator program.”
Ward continued: “At the beginning, one of many points of interest of the accelerator was the direct interplay that we might have with Visa. We have now a couple of product concepts we’re beginning to check out by way of monetary inclusion and having a associate like Visa to assist us on that journey was an enormous benefit.
“Having mentors on this system to sense verify the place you’re at has been nice, we’re all at totally different phases in our enterprise evolution so Plug and Play have carried out a fantastic job of bringing in a pleasant number of mentors the place we might quiz them and profit from the expertise by way of serving to mature our startups and actually get us prepared for that subsequent stage of development.”
To study extra about Floatpays, its place within the African market and involvement within the Visa Fintech Accelerator, watch the total video interview under.
Polly Jean Harrison
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