Originally launched in 2017 across seven African countries, including Côte d’Ivoire, Senegal, Burkina Faso, Guinea, Ghana, Madagascar, and Cameroon, YUP was Société Générale’s attempt to penetrate Africa’s fast-growing mobile payments market.
The BCEG is entirely funded by Gabonese institutional and private investors, making it one of only two banks in the country controlled by national capital, alongside market leader .
This revised investment model aligns Techstars more closely with the funding terms offered by other leading global accelerators, notably Y Combinator (YC).
Visa’s Africa strategy is ambitious. Its $1 billion commitment — announced in 2022 — targets infrastructure development, digital inclusion, and financial literacy.
For startups entering South Africa’s financial or digital services space, this case is a valuable, if costly, lesson in how not to market a product — especially not to vulnerable or financially inexperienced consumers.
