In a bid to reinforce its foothold across Africa’s rapidly evolving digital economy, global payments giant Visa has announced fresh investments and partnerships with fintech firms in North Africa, spotlighting the region as a key frontier in its $1 billion Africa commitment by 2027.
The move, unveiled during the GITEX Africa 2025 summit in Marrakech, marks a significant expansion of Visa’s fintech engagement strategy on the continent. Through its Visa Africa Fintech Accelerator program — a 12-week initiative designed to equip early-stage startups with mentorship, capital, and commercial opportunities — the company has onboarded two North African firms into its portfolio: Tunisia’s Konnect and Morocco’s PayTic.
Both companies are tackling distinct challenges in the region’s digital payments landscape. Konnect, founded in 2021 by Amin Ben Abderrahman, offers tools that simplify online transactions for individuals and enterprises. Its flagship service enables the generation of payment links that can be shared via WhatsApp, email, or SMS, providing a workaround to traditional point-of-sale and card payment systems in a region where banking infrastructure remains underdeveloped in parts.
“Our goal has always been to simplify payments in Africa,” said Ben Abderrahman. “Visa’s backing is a strong validation of our work and will help us scale our impact across underserved markets.”
Just months before the Visa announcement, Konnect closed a $1.5 million funding round led by Attijariwafa Ventures and several Africa-focused investors including Renew Capital and Plug and Play Africa, strengthening its ambitions to expand across the Maghreb and beyond.
In neighboring Morocco, PayTic is solving a different problem: the back-end inefficiencies that plague many of the region’s financial institutions. Founded by Imad Boumahdi in 2020, the company develops software that automates compliance, reconciliation, and risk control tasks — functions that are often still handled manually by banks and digital payment processors.
“We’re modernizing the core,” said Boumahdi. “With Visa’s support, we can continue replacing outdated, resource-intensive processes with scalable, automated infrastructure.”
PayTic recently closed a $4 million seed extension round, backed by AfricInvest and Axian Group, among others. The investment underscores investor confidence in the company’s business model and the growing need for operational streamlining as digital transactions grow in volume and complexity.
Beyond equity stakes, Visa is also forming strategic partnerships to extend its commercial reach. The company’s collaboration with Chari, a Moroccan B2B e-commerce platform for corner shops, aims to digitize transactions for small merchants — many of whom remain excluded from formal financial systems.
“Chari serves tens of thousands of mom-and-pop stores,” said Ismael Belkhayat, the startup’s CEO and co-founder. “Partnering with Visa allows us to integrate world-class payments infrastructure into our platform, bringing these merchants into the digital fold.”
Visa’s activities in North Africa are part of a broader push across the continent. The company has previously backed startups such as Oze (Ghana), Workpay (Kenya), OkHi (Nigeria), and ORDA, which provides restaurant management software in multiple African markets. These investments reflect Visa’s belief that local entrepreneurs are key to building inclusive financial systems in Africa’s diverse economies.
“These innovative fintechs are a beacon of creativity and dedication, revolutionizing commerce and finance,” said Leila Serhan, Visa ’s Senior Vice President for North Africa, Levant, and Pakistan. “By supporting homegrown fintechs, we’re ensuring that financial inclusion grows from the ground up.”
Since its inception in 2023, the Visa Africa Fintech Accelerator has graduated over 60 startups and has become a cornerstone of the company’s Africa strategy. The recently concluded third cohort showcased 19 startups from 21 countries at GITEX Africa. Notably, 85% of the companies were led by women — a sharp increase from previous cohorts and a reflection of Visa’s growing focus on inclusive entrepreneurship.
The program offers seed to Series A startups personalized training, technical mentorship, and visibility to investors, culminating in a high-stakes Demo Day designed to forge long-term partnerships.
Visa has indicated that its fourth cohort will launch in June 2025, signaling its intent to maintain a steady pipeline of African fintech innovation.
Visa’s Africa strategy is ambitious. Its $1 billion commitment — announced in 2022 — targets infrastructure development, digital inclusion, and financial literacy. But the company is entering a crowded space. Rivals such as Mastercard and Chinese payment firms are also scaling up operations, eager to claim a share of the continent’s burgeoning digital payments sector, projected to top $40 billion by 2025.
Despite these competitive pressures, Visa appears to be focusing on differentiation through deeper ecosystem integration and local partnerships.
“This isn’t just about transaction volume,” Serhan noted. “It’s about building resilience and relevance in markets that are growing rapidly but unevenly. Local startups have the insight; we bring the scale.”
As fintech investment in Africa faces headwinds from global capital tightening, Visa’s continued deployment of capital into early-stage companies could serve as a stabilizing force. It also reinforces the view that large corporate players see long-term value in African markets — especially in underserved financial verticals.
In backing Konnect and PayTic, Visa is not just placing bets on promising startups. It’s signaling that the next frontier of digital finance lies in cities like Tunis and Casablanca — not just Lagos or Cairo.