1 Out of the 25 Startups Selected for AWS Inaugural African Fintech Accelerator Program is Blockchain-Based

The Amazon Web Services (AWS) FinTech Africa Accelerator Program has selected 25 fintech startups from a pool of 500 applicants for its inaugural Fintech Africa Accelerator.

The program, whch targeted pre-seed and seed stage fintech startups, will be hosted by AWS’ well-known Startup, Loft Accelerator, and will commence in June 2023 for a period of 10 weeks. The selected startups will each receive technical review workshop sessions and up to $25,000 in AWS technical credits.

The startups will also benefit from sector-specific guidance and one-on-one mentorship provided by prominent industry players, including the Africa Fintech Summit (AFTS), Lendsqr, and Vestbee.

The cohort includes:

11 startups from Nigeria:

• Ashiri NG
• Bunce
• DeemPay
• Fluna
• InCash
• KoinWa
• Stacs
• Vagrent Africa
• WALLX Africa
• Zainnest
• Zeeh Africa

4 startups from Kenya:

• Chumz
• Hela Money (Blockchain-based)
• Kiota Pay
• Mauzo

4 startups from Ghana:

• Asaana Pay
• Edanra
• Exxtra
• H28 Technologies

2 startups from Uganda:

• eMaisha Pay
• Xazu Technologies

2 startups from South Africa:

• Abela iMali
• Moya Money

1 startup from Cameroon:

• Dreamcash

1 startup from Egypt:

• MazAid

The program has embraced a wide range of value propositions and verticals encompassing various areas within the fintech sector. These include:

• Finance and lending solutions for micro, small, and medium enterprises (MSMEs)
• Cryptocurrency transactions
• Global remittance products
• Freelancer payment and invoice management
• Export/import management

and many other innovative concepts.

“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.”

Hela Money is one out of 4 Kenyan startups and the only blockchain-based fintech selected for this inaugural accelerator from a pool of 25 startups across the continent.

In an email shared with BitKE, the CEO of Hela Money, Thomas Mariwa, said:

“We are thrilled to be selected for the AWS Africa Fintech Accelerator. This is a tremendous opportunity for us to collaborate with AWS, a global leader in cloud computing, and gain invaluable insights and support to accelerate our growth.

We are excited to leverage the program’s resources to enhance our technological infrastructure, expand our customer base, and drive financial inclusion across Africa.”

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
• Conduit

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