In April this year, Visa unveiled the 2023 edition of the Visa Everywhere Initiative – a program that seeks to empower startups in their quest to solve payment and commerce challenges. This empowerment is in different forms like funding, mentorship, and access to global platforms to demonstrate groundbreaking solutions. VEI is looking to support startups that are creating solutions around access to finance, new customers and markets, and MSME business services. These solutions could be in areas like health, agriculture, education, logistics, urban mobility, insurance, and the Gig economy.
There is no doubt that there is a wide pool of local tech talent in Africa, with commensurate energy and enthusiasm among both established and upcoming innovators. All what they need is a push in the right direction and they will serve the world with the brilliant scalable ideas that they have up their sleeves. This is the essence of Visa Everywhere Initiative. In addition to monetary prizes, VEI winners gain access and exposure to Visa’s vast network of partners in the banking, merchant, VC, and government sectors. The winners also benefit from receiving recognition from one of the world’s most trusted and valuable brands.
VEI came to be in 2015 and over the years, the Kenyan edition of the program has impacted over 12,000 startups globally. This year, the program attracted 200 applications and Visa has announce the five fintechs shortlisted for the Kenyan finals. The overall Kenyan winner will be picked through a panel of judges after an in person live pitch on 6th July 2023. The overall winner will proceed to the regional Central and Middle East Africa (CEMEA) final for a chance to grab a sot for the global showpiece in September. The event will be broadcast live on Visa Africa’s Youtube channel, so be sure to tune in.
This year’s prizes for the Kenyan edition are:
- VEI Kenya Winner: $20,000 USD
- VEI Kenya Audience Favorite: $10,000 USD
- VEI Kenya Social Impact Award: $10,000 USD
Here are the five finalists and their short descriptions.
Ndovu – A wealth management platform for Africa. Ndovu’s CEO Radhika Bhachu has over 12 years of experience in the financial services industry where she led the investment platforms team at BlackRock (London) as a Relationship Director.
African Blockchain Center whose CEO is Jeff Mkungusi mainly focuses on 4 key areas: Capacity building, product development, incubation and research and development. Jeff is an accomplished entrepreneur known for his visionary leadership and deep understanding of blockchain and cryptocurrency technology.
Leja which rebranded from Asilimia – The Co-founder and COO Morgane Kablan is a dedicated professional specializing in sustainable finance and social entrepreneurship.
ai-fluence is Africa’s first AI driven Influencer Marketing platform. The Co-Founder and CEO Nelson Aseka has 20+ years’ experience working at the intersection of technology and marketing.
Paylend is a platform for digitizing micro and small businesses across Africa. The CEO Eliutherius Juma is a performance-driven entrepreneur with a background in software engineering. After graduating with a first-class honor in Computer Science, he has been in software development for five years before transitioning to a managerial role.
Wishing the finalists all the best and looking forward to the unveiling of the overall winner.