Tuesday, September 26, 2023
News
NEWS HOME
PRN INDIA
AWS announces the 25 startups selected for its first 'fintech in Africa' accelerator
  SocialTwist Tell-a-Friend  
   

Cohort participants from Kenya, Nigeria, South Africa, Egypt, Ghana, Uganda, and Cameroon

<Image Link>

Description: Sekai Ndemanga, Head of FinTech Venture Capital and Startup Business Development at Amazon Web Services (AWS), speaks at the 9th Africa Fintech Summit in Washington DC on April 12, 2023.

NAIROBI, Kenya, June 1, 2023 /PRNewswire/ -- 25 African fintech startups have been selected for the inaugural Amazon Web Services (AWS) FinTech Africa Accelerator cohort. This cohort was selected from over 500 applications and is part of the EMEA Startup Loft Accelerator (SLA) program run by AWS.

The pre-seed and seed stage fintech startups will start the 10-week program in June. Each startup will get technical review workshop sessions and up to $25K USD in AWS technical credits, world leading sector advice and one-to-one mentorship from major industry players including the Africa Fintech Summit (AFTS), Lendsqr and Vestbee to help them build their businesses.

Africa's fintech ecosystem is one of the fastest growing globally reaching $2B USD in 2022, according to data from Briter Bridges. Six out of seven of the continent's unicorns operate in the financial services industry.

The cohort includes eleven startups from Nigeria - Ashiri NG, bunce, DeemPay, Fluna, Incash, KoinWa, Stacs, Vagrent Africa, WALLX Africa, Zainnest, and Zeeh Africa. Four are from Kenya - Chumz, hela.money, Kiotapay, and Mauzo. Four are from Ghana - Asaana Pay, Edanra, Exxtra, and H28 Technologies. There are two from Uganda - eMaisha Pay and Xazu Technologies - and two from South Africa - Abela iMali and Moya Money. Dreamcash, a startup from Cameroon and MazAid, an Egyptian startup are also part of the cohort.

While all participating startups are fintech companies, the program welcomed a diverse array of value propositions and verticals including finance/lending for MSME's, cryptocurrency transactions, global remittance products, freelancer payment & invoice management, export/import management, and much more.

"At AWS, we're thrilled to be a part of Africa's digital transformation, making core financial services accessible to more individuals and businesses. We believe that anyone regardless of their location, should be able to access innovative technologies and realize their dreams," said Napa Onwusah, Start-up Segment Lead at AWS. "I am excited that the accelerator will be instrumental in empowering these startups to grow and scale their businesses."

Co-Founder and Managing Partner of First Circle Capital, Agnes Aistleitner Kisuule stated, "The program is a great opportunity for aspiring entrepreneurs to hone their ideas, get exposed to the tech industry and drive growth in Africa's financial services industry."

"FinTech is imperative for Africa's economic growth so programs like this provide the expert training and support that early-stage FinTech companies need to scale to the next level and boost the continent's digital economy," said Barbara Iyayi, the Founding Managing Partner at Unicorn Growth Capital

Adedeji Olowe, the Founder & CEO of Lendsqr and a Trustee with Open Banking Nigeria stated, "AWS is making a huge impact on the startup ecosystem globally. Its secure and flexible cloud infrastructure allows startups to focus on developing innovative products to attract VC funding – a real need for them. Over 90% of startups we know created their Minimum Viable Product (MVP) on AWS. Products like Compute, Amazon SageMaker among others help them to build fast-scaling products that VCs like us love to back. We are excited to provide our expertise to young startups as part of the program."

The program is supported by major players in the African financial technology industry including the Africa Fintech Summit, Unicorn Growth Capital, Lateral Frontiers VC, First Circle, Dawn Capital, White Star Capital, Blackfin Capital Partners, Vestbee, Alma Angels, Flashpoint Venture Capital, Vertis Capital, Next Road Ventures, Afrolynk, Stripe, Zendesk Startups, Techcabal, Paga, Lendsqr, and Conduit.

Media Contact
Charles Isidi
Head of Marketing & Communications
Africa Fintech Summit
charles@africafintechsummit.com

Cision View original content:https://www.prnewswire.co.uk/news-releases/aws-announces-the-25-startups-selected-for-its-first-fintech-in-africa-accelerator-301840050.html

More News by PR Newswire India

Clean-Tech Innovator, ReCircle, Raises Pre Series-A Round from Flipkart Ventures, 3i Partners & Acumen Fund Inc. to Fuel Innovation & Growth

11th White Page Leadership Conclave 2023, Dubai UAE featuring Global Inspirational Leaders, Asia's Women Power Leaders, Global Power Leaders 2023, and Power List (Brands) 2023

LyondellBasell Demonstrates Commitment to Sustainability with Launch of +LC (Low Carbon) Solutions

Stockify goes fully Digital, offers Mutual Funds and Dematerialization of shares

Brambles' 2023 Sustainability Review: Pathway to Regeneration

Luxury, Art, and Stardom in the spotlight at The Chanakya with an exclusive Art exhibit by Masha Art.

VIVOTEK Supports Taiwan-Owned Entity in Elevating Building Security & Surveillance Efficiency in the USA

SOAS and Asian International Arbitration Centre, Malaysia, sign Memorandum of Understanding and host London International Arbitration Colloquium

CGTN: 'Everyone's contributor': How China advances common prosperity through opening-up, rural revitalization

Global Times: China's strength, confidence and hospitality on full display at 19th Asian Games

Cignal TV taps Quickplay platform for Pilipinas Live global sports app

Fiera Capital Celebrates Its 20th Anniversary

THE GLEN GRANT DEVOTION 70-YEAR-OLD SELLS FOR £81,250 ($101,300 USD) AT AUCTION WITH PROCEEDS TO BENEFIT THE ROYAL SCOTTISH FORESTRY SOCIETY

Arçelik showcases climate action commitments at UN General Assembly with ambitious sustainable development goals

PRADA SPRING/SUMMER 2024 WOMENSWEAR SHOW

Boehringer Ingelheim India joins forces with Pet Practitioners Association of Mumbai (PPAM) and Brihanmumbai Municipal Corporation (BMC) to 'Stop Rabies' in Mumbai

Supermicro Introduces New All-in-One Open RAN System Optimized for Telco Edge Data Centers with Built-in Intel vRAN Boost

NBA DELIVERS MOST-WATCHED SEASON EVER IN INDIA WITH MORE THAN 100 MILLION UNIQUE VIEWERS ACROSS LINEAR AND DIGITAL PLATFORMS

71% of senior business technology decision makers are disappointed with B2B marketing content

Overloaded: 89% of Indian consumers think there are 'too many' subscription services to choose from now

EU group names Trina Solar Decarbonisation Leader

Huawei Accelerates the Commercial Market Advancement and Helps SMEs Go Digital and Intelligent

Senores Pharmaceuticals, Inc. announces the launch of Nicardipine Hydrochloride Capsules USP, 20 mg and 30 mg in the U.S. market

"From Ziquejie Terraces to the World" - An Invitation for Reaching the Ziquejie Consensus on Terrace Preservation and Development to the World

Huawei's Brand-New Digital and Intelligent Foundation Upgrades Aviation and Rail Industries

Cashfree Payments partners with Shopify to launch onsite payments for Indian merchants

EQT PRIVATE EQUITY TO SELL LIMACORPORATE TO ENOVIS: THE ITALIAN SITE IN SAN DANIELE DEL FRIULI WILL REMAIN THE FULCRUM OF PRODUCTION, BENEFITING FROM NEW INVESTMENTS

Celebrating the Grand Opening of Doo Group's New Hong Kong Office: A Promising Start to an Exciting Future

Huawei Launches the Global Intelligent Education Showcase to Accelerate Digitalization in Education

Xinhua Silk Road: China int'l service trade fair highlights new features of China's trade, open economy

Over 20,000 avail benefit at free mega health camp organised by Chandigarh Welfare Trust to celebrate 73rd birthday of PM Modi

Huawei Accelerates Intelligent Healthcare with the Innovative Digital Medical Technology Solution

Huawei High-Quality 10 Gbps CloudCampus Accelerates Intelligent Transformation Across Industries

Hexaware Appoints Anton Tomchenko as Chief Revenue & Solutions Officer for Digital & Software Services

Xinhua Silk Road: Dev't index witnesses progress of int'l shipping center construction in Shanghai

Pierre Fabre Laboratories and Vernalis announce a drug discovery collaboration in oncology

Religare Broking Takes A Global Leap to Serve NRIs: Hosted IGI Conference in Dubai

Artmarket.com: France obtains the maintenance of VAT at the reduced rate of 5.5% on the Art Market, a major victory with very considerable advantages according to Artprice.

Safer, Inclusive Schools Critical for Children's Learning: Coalition for Good Schools

LRQA verifies Bridgestone's plant in India as carbon neutral against international standard PAS 2060

A23 launches new brand campaign featuring Shah Rukh Khan; Unveils new A23 Poker app

VVDN Technologies and Axiado Collaborate on Open Compute Platform Compliant data center and Telco O-RAN servers

Huawei Upgrades the CloudWAN 3.0 Solution, Accelerating the Intelligent Era

Redefine Security with the All-New Huawei HiSec Intelligent Security Portfolio and the Powerful HiSec SASE Security Solution

Huawei Launches Three Product Portfolios for the Commercial Market to Build High-Quality Connections

GET THAT 'CAN'T WAIT TO WINTER' FEELING IN ABU DHABI

Come Discover Colorful Guiyang featuring "Thousand Parks, Thousand Paths"

Casio to Release League of Legends G-SHOCK Watches

Campus With A Conscience hosts a week-long UN festival

France Announces €40 Million in New Funding to Education Cannot Wait at Global Citizen Festival

CGTN: 'Heart to Heart': How can Hangzhou Asiad boost unity, friendship across Asia?

Education Icon Awards 2023 organized by Kiteskraft Productions LLP

Office of the Executive Committee of the WMC: Anhui Strengthens Scientific and Technological Innovation Capacity to Attract Multinational Enterprises

SAUDI ARABIA UNVEILS TOP TOURISM LEADERS AND GLOBAL MINISTERS IN SPEAKER LINEUP FOR WORLD TOURISM DAY 2023

TECNO Globally Launches PHANTOM V Flip 5G: Representing Flip in Style and Perfect in Pocket

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Rs 12,000 debt on every person: BJP Pu...
Army jawan attacked in Kerala; PFI wri...
Congress had made Madhya Pradesh Bimar...
'Congress' Lanka of corruption will demo...
Owaisi is B team of BJP and BRS: Congres...
Kerala: School bus collides with auto-ri...
More...    
 
 Top Stories
Mom-to-be Rubina Dilaik flaunts her... 
Mumbai Crime Branch files chargeshe... 
Jaishankar to address United Nation... 
PM Trudeau calls act to honour Nazi... 
Asian Games: Harmanpreet Singh scor... 
Indian Wushu players disappointed a... 
Leaders extend wishes to former PM ... 
J-K: Indian Army nabs four suspects...