Africa’s fintech ecosystem is entering a new phase of growth, marked by wider geographic inclusion and stronger innovation beyond traditional technology hubs. This shift is clearly reflected in the latest cohort of Visa’s Africa Fintech Accelerator programme.
Visa has announced the fifth cohort of its accelerator, welcoming 18 fintech startups drawn from 28 countries across the continent. The new intake highlights the rapid expansion of financial technology across Africa and the growing diversity of markets driving innovation.
New Markets Signal a Broader Fintech Boom
One of the most notable developments in Cohort Five is the inclusion of startups from Burkina Faso and Djibouti. These countries have rarely featured in major fintech programmes in the past.
Their participation signals that innovation is no longer concentrated only in well-known hubs such as Nigeria, Kenya, South Africa, and Egypt. Instead, fintech solutions are emerging in smaller and previously underrepresented markets.
This trend reflects the growing demand for digital financial services across the continent. As access to mobile connectivity improves, more entrepreneurs are building solutions tailored to local needs.
Visa’s Africa Fintech Accelerator at a Glance
Visa’s Africa Fintech Accelerator was created to support early-stage and growth-stage startups. The programme provides mentorship, technical support, and access to Visa’s global payment network.
Since its launch, the accelerator has become an important platform for nurturing innovation. It helps startups refine their products, scale their operations, and connect with investors and partners.
By selecting companies from a wide range of markets, Visa aims to support financial inclusion across Africa rather than focusing only on established ecosystems.
Cohort Five Reflects Key Industry Trends
According to Visa, the startups selected for Cohort Five closely reflect the major trends shaping Africa’s fintech sector today. These trends point to how financial services are evolving across the continent.
One of the strongest themes is money movement. Many startups are building solutions focused on faster, cheaper, and more reliable payments, especially across borders.
This focus reflects the real challenges Africans face when sending money between countries, both within Africa and internationally.
Cross-Border Payments Take Centre Stage
Cross-border payments remain expensive and slow in many parts of Africa. As a result, fintech innovators are developing alternatives to traditional banking systems.
Several startups in the cohort are working on platforms that simplify cross-border transfers. These solutions aim to reduce fees, shorten transaction times, and improve transparency.
Many of these products target small businesses, traders, and individuals who rely on cross-border commerce for their livelihoods.
Rise of Stablecoin-Enabled Infrastructure
Another major trend highlighted in Cohort Five is the use of stablecoin-enabled infrastructure. Stablecoins are digital currencies designed to maintain a stable value, often pegged to major currencies like the US dollar.
Startups are using stablecoins to support cross-border payments and settlements. This approach allows for quicker transfers and reduced exposure to currency volatility.
In regions where local currencies can be unstable, stablecoin-based solutions offer a more predictable way to move and store value.
Artificial Intelligence Gains Ground in Fintech
Artificial intelligence is also playing a growing role in Africa’s fintech ecosystem. Several startups in the accelerator are using AI to solve long-standing challenges in financial services.
AI-driven tools are being applied to risk assessment, fraud detection, and customer verification. These technologies help fintech firms operate efficiently in markets where traditional financial data is limited.
By analysing alternative data, AI systems can assess creditworthiness and reduce fraud more accurately than manual methods.
Improving Digital Identity and Credit Access
Digital identity remains a major challenge across many African countries. Millions of people lack formal identification, making it difficult to access financial services.
Some startups in the cohort are using AI to develop digital identity solutions. These platforms help verify users securely while complying with regulatory requirements.
At the same time, AI-based credit scoring tools are expanding access to loans. By analysing transaction history, mobile usage, and behavioural data, fintechs can offer credit to previously excluded populations.
Addressing Fraud and Financial Crime
Fraud prevention is another key focus area for Cohort Five startups. As digital payments grow, so do the risks associated with fraud and cybercrime.
Several companies are deploying AI-powered systems to detect suspicious activity in real time. These tools help financial institutions identify threats before significant losses occur.
Strengthening fraud prevention not only protects users but also builds trust in digital financial systems.
Financial Inclusion at the Core
At the heart of Visa’s accelerator programme is the goal of financial inclusion. Many Africans remain underserved or excluded from formal financial systems.
The startups in Cohort Five are developing products aimed at bridging this gap. Their solutions target individuals, small businesses, and informal traders who lack access to traditional banking.
By focusing on inclusion, fintech companies can support economic growth and resilience across communities.
Visa’s Role in Supporting African Innovation
Visa provides more than funding through its accelerator. Participating startups gain access to Visa’s technology, expertise, and global partnerships.
Mentorship sessions help founders refine their business models and prepare for scale. Technical support ensures that products meet global standards for security and reliability.
Access to Visa’s network also opens doors to new markets and commercial opportunities.
Expanding Beyond Traditional Tech Hubs
The inclusion of startups from new markets reflects Visa’s commitment to inclusive growth. Innovation is no longer limited to a few cities or countries.
As digital infrastructure improves, entrepreneurs in smaller economies are finding opportunities to build impactful fintech solutions.
This decentralisation of innovation strengthens the overall ecosystem and reduces dependency on a handful of markets.
Economic and Social Impact of Fintech Growth
Fintech plays a critical role in Africa’s economic transformation. Digital financial services support entrepreneurship, job creation, and trade.
By making payments faster and credit more accessible, fintech solutions help small businesses grow. They also reduce the cost of doing business across borders.
Over time, this can lead to stronger regional integration and economic stability.
Challenges Still Remain
Despite the progress, challenges remain. Regulatory uncertainty, infrastructure gaps, and limited access to capital continue to affect fintech startups.
Visa’s accelerator helps address some of these barriers, but broader collaboration is needed. Governments, regulators, and private sector players must work together.
Clear regulations and supportive policies will be essential for sustained growth.
Looking Ahead for Africa’s Fintech Sector
Cohort Five of Visa’s Africa Fintech Accelerator offers a snapshot of where the industry is heading. The focus on cross-border payments, AI, and inclusion reflects real market needs.
As more startups emerge from diverse markets, Africa’s fintech ecosystem will become more resilient and innovative.
Visa’s continued investment in early-stage companies positions the accelerator as a key driver of this transformation.
Conclusion
Visa’s fifth Africa Fintech Accelerator cohort highlights the rapid expansion and diversification of Africa’s fintech landscape. With startups from 28 countries, including new entrants like Burkina Faso and Djibouti, innovation is spreading beyond traditional hubs.
The emphasis on cross-border payments, stablecoins, and artificial intelligence shows how fintech is responding to Africa’s unique challenges. As these startups scale, they are likely to play a major role in advancing financial inclusion and economic growth across the continent.