The Visa Everywhere Initiative (VEI) also plays a pivotal role in fostering fintech innovation in Africa. Since its inception in 2015, VEI has provided startups with a global platform to showcase innovative solutions that hold the potential to shape the future of payments and commerce. In Africa, VEI has been impactful, with local competitions in South Africa, Kenya, Ethiopia, and Egypt engaging promising fintech startups. In particular, Nigeria has emerged as a focal point of fintech innovation and excellence in Africa, with Nigerian startups winning the global finals of the Visa Everywhere Initiative for two consecutive years. Visa has even introduced social impact prizes in South Africa and Kenya, recognizing the impact of fintechs in their local communities as a force for good. This aligns with Visa’s commitment to fostering projects that create meaningful change. Visa’s journey in Africa embodies a commitment to growth, innovation, and financial inclusion. As the continent continues to undergo a profound digital transformation, Visa stands as a catalyst, supporting startups, fostering financial literacy, and contributing to the digitization of financial services. With a vibrant fintech ecosystem and a rising wave of digital payments, Africa’s future is brighter than ever. Visa’s vision for Africa is one of progress, empowerment, and a boundless digital landscape where opportunity knows no bounds.
Source link : https://www.cnbcafrica.com/2023/empowering-africas-fintech-ecosystem-a-vision-for-growth/
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Publish date : 2023-11-14 03:00:00
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