Press Release: Fintech Startup Accelerator Kickstarts Its First 16 Week-long Programme to Capacitate Fintech Startups in Africa

Fintech Startup Accelerator has officially kickstarted its first 16 week-long Venture Studio for entrepreneurs which allows fintech startups founders and teams to develop ground breaking solutions that drive sustainable economic growth in Africa. The Fintech Startup Accelerator aims to polish fintech startups to take their solutions further and its venture studio is designed to build and scale iconic startups in Africa.

Fintech is the fastest growing startup industry because it holds potential to improve efficiency and reduce operating cost for providers, which allows seamless and real-time customer transitions. We have seen the growth in the fintech industry since 2007 when M-Pesa was launched, a mobile banking service that allows users to store and transfer money through their mobile phone and more innovations have and are developed to improve financial services, cybersecurity and make finance more accessible. The sector keeps on growing rapidly and attracting foreign investment. McKinsey analysis has estimated that Africa’s financial-service market could grow at 10 percent per annum, reaching about $230 billion in revenues by 2025 ($150 billion excluding South Africa, which is the largest and most mature market on the continent).

Fintech Startup Accelerator provides entrepreneurs with resources and tools to develop solutions, create strong business models, perfect their pitches and successfully launch their fintech businesses. We understand that entrepreneurs face problems along the way to launch their fintech businesses, and some entrepreneurs have good solutions, but those solutions need to be polished and taken to the right market. We have decided to close the gap on startups failure and challenges that they face like data security, compliance with government regulations, lack of mobile and tech expertise, blockchain integration, effective marketing tactics to acquire customers and we took a step to bring industry experts to guide, provide tools and resources to help them succeed in the fintech industry. Lucky Litelu founder and CEO of ICRD Group and Startup Business Campus said “We are committed to building 100 iconic fintech startups in the next 5 years in Africa”.

The Fintech Startup Accelerator has onboarded 16 fintech startups businesses to help them to ideate and refine their businesses and make them market ready for the local and international market. These companies are South African companies that have ideas and some of them are passed the ideation face and they are implementing their solutions to tangible fintech enterprises. The bootcamp include a 16 week-long studio and coaching, where businesses are provided with input and working time to push their business further, coaches and industry experts will be available to provide coaching sessions, both face-to-face and virtual. Candidates will also get a chance to network and gain access to the fintech industry, academia, organisations, public administration agencies and private sector this will provide them with an opportunity to build their solutions and business models.

Africa has a lot of talent hence it is regarded as the hotbed for investment in fintech around the world, both local and international investors are willing to put money on the best fintech solutions . Fintech Startup Accelerator wants to drive economic development and sustainability in Africa, Gugu Mkhize, CEO of INSETA, the Insurance Sector Education and Training Authority told us how she is excited about the programme and how it will drive financial inclusion, economic growth and reduce the unemployment rate in the country. Fintech Startup Accelerator is playing a role to increase startups investments and reduce unemployment and that can be done through making sure that more sustainable fintech startups are built. These fintech startups play a huge role in job creation.

Fintech is the future and the next big thing that is transforming the financial sector landscape of insurance, banking and investment firms by providing lower prices compared to traditional services.

For more information contact:
Name: Agnes Nyathi
Communication Strategist
Email address:
Contacts: +27 62 476 4107

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