Tech

Visa picks 23 African startups for maiden Fintech programme

Published

1 year ago

November 21, 2023

Visa has finally selected 23 startups out of a pool of 40 for its maiden Africa Fintech Accelerator programme, with the aim of enabling them through expertise, connections, technology, and investment funding.

The initiative was introduced by Visa Executive Chairman, Alfred F. Kelly Jr. at Bloomberg New Economy Gateway Africa in Marrakech, Morocco, in July, with Kelly Jr. saying the programme will enable up to 40 start-ups each year to accelerate and grow through a three-month intensive learning program focused on business growth and mentoring.

“On completion of the accelerator programme, Visa intends to further support fintech growth with capital investment in select participating businesses, while accelerating their commercial launch through access to Visa technology and capabilities,” he said.

“The launch of the Africa Fintech Accelerator program follows Visa’s recent pledge to invest $1 billion in Africa’s digital transformation and its long-term commitment to advancing Africa’s economies and driving inclusive growth.

“Africa has one of the most exciting and admired fintech ecosystems in the world, bringing outstanding entrepreneurial talent to a young digital-first population that is growing fast.

“Visa has been increasing our investments in Africa for decades and strengthening partnerships throughout the continent to support the next wave of innovation and growth. Our new Fintech Accelerator will bring expertise, connections, and investment to Africa’s best fintech start-ups so they can grow at scale,” he added.

The selected 23 startups, which will form the first cohort of the programme, include five from Nigeria, namely Anchor, Dojah,
Moni, Orda Africa, and Traction.

Kenya has four startups, including OkHi, Duhqa, Power and Workpay, while Ghana also has four representatives— OZÉ, The Blu Penguin, AgroCenta, and Affinity Africa.

Three startups were selected from Morocco, namely Chari, PayTic, and platform Weego, as well as South Africa— Floatpays, Franc, and OnLife. Egypt has Sympl, Uganda has Eversend, Zambia has PremierCredit, and Tunisia has Konnect.

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Tech

Fintech startup DigMo launched in Zambia to gamify financial planning

Published

7 hours ago

November 24, 2024

Isaac Dachen

DigMo, a gamified fintech startup which helps users to build wealth tools from low to middle-income earners, has been launched in Zambia.

CEO of the DigMo Group, Sylvia Brune, who made the announcement, says the platform which is licensed by the Bank of Zambia to operate a wallet, offers a secure, free digital money account with a special account for users to play a financial planning game which incentivises customers to get started putting money away for the future.

“By giving customers the chance to win big rewards, DigMo is encouraging sustainable habits,” said Brune.

She stated that with an initial rollout in Zambia, DigMo wallet’s first offering, Save to Win, will make putting money away regularly, easy and rewarding with no fixed costs or fees.

“DigMo Save to Win allows users to start with small amounts – from just ZMW10 (US$0.37) – for the chance to win prizes of up to ZMW500,000 (US$19,000).

“We are committed to financial planning innovation for low and middle-income earners across Africa. To achieve this meaningful impact, we approach this like a game studio – where we constantly create and test many new products until we find those with an outsized impact,” Brune said.

“If we just take existing products and make them more affordable or accessible, it is unlikely that we can dramatically change behaviours.

“To succeed, we have engaged directly with users, observing and learning from them to develop DigMo, a solution that will dramatically improve their financial well-being and meet their unique needs,” she added.

Tech

Kenya’s startup BuuPass partners with GiftPesa to launch digital travel vouchers

Published

1 day ago

November 23, 2024

Isaac Dachen

Kenyan digital ticketing and transportation management solutions startup, BuuPass, has entered into a partnership with fintech company, GiftPesa, to introduce digital travel vouchers ahead of the holiday season.

In a statement by BuuPass cofounder and CEO, Sonia Kabra, the move will offer a more flexible and convenient way for Kenyans to manage and gift travel arrangements during the bustling holiday period.

“We’ve noticed a growing demand for digital solutions in the travel industry, especially during peak periods like the holiday season,” said Kabra.

“This partnership with GiftPesa enhances the travel experience for our customers, offering them a convenient way to send travel tickets as gifts and have a safety net for unconfirmed travel dates.

“Unlike traditional paper vouchers that can expire or get lost, GiftPesa vouchers are valid for 12 months and can be redeemed in parts at over 3,000 outlets across the country.

“This flexibility allows recipients to use the vouchers for multiple trips or select their preferred destination, making travel more accessible,” she added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a leading B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

GiftPesa, on the other hand, is a fintech startup that provides businesses and individuals with a platform for creating digital vouchers.

The partnership between the two companies will introduce digital travel vouchers, helping users manage and gift travel arrangements during the bustling holiday period.