A total of 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.
About The Accelerator
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.
The cohort selected eleven (11) startups from Nigeria, four (4) from Kenya, four (4) from Ghana, two (2) from Uganda, two (2) from South Africa, and two startups from Cameroon and Egypt respectively.
What They’re Saying
“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.”