You can now apply for the first AWS FinTech Africa Accelerator for early stage startups – BitcoinKE

by James · March 25, 2023

Amazon Web Services (AWS) has launched a call for applications for early-stage startups to participate in the first edition of the AWS FinTech Africa Accelerator.

The accelerator is aimed at supporting fintech startups in Africa that leverage innovative technology to solve financial inclusion challenges. The selected startups will receive technical support and training, mentorship, access to AWS services, and up to $50,000 in AWS Activate credits.

The program is open to all fintech startups operating in Africa and will run for a period of six months. The application process is currently open and will remain open until April 27, 2023.

The program will be hosted by AWS’ well-known Startup Loft Accelerator and will be dedicated to fintech and fintech-adjacent startups operating in Africa. According to Briter Bridges, Africa’s fintech industry has been the largest recipient of venture funding on the continent in recent years, with over US$2 billion raised in 2022 alone.

The equity-free program offers a range of resources to participants, including:

Strategy development
Management of the technical team
Product development
Guidance on how to navigate the fundraising process

with the aim of helping selected startups develop and grow their business on the African continent.

Startups participating in the AWS FinTech Africa Accelerator will also have the opportunity to join AWS’s Activate program with resources such as Activate Credits of up to $25,000 and other services. In addition, participating founders will receive tailored support in a series of workshops and one-on-one sessions led by industry experts to address their unique challenges and opportunities.

The cloud computing giant has a long-standing presence in Africa dating back to the opening of a development center in South Africa in 2004. Over time, AWS has expanded its operations in Africa by opening more offices and data centers with the aim of establishing itself as the leading cloud service provider in the region.

In 2020, AWS launched its Africa Region headquartered in Cape Town, South Africa, which operates multiple Availability Zones, each geographically separated from the others so that a problem at one center will not affect the AWS system or its users.

Currently, the Africa region is served by 3 AWS data centers – two in South Africa and the third in Nairobi, Kenya.

AWS plans to further develop across Africa to best serve the needs of the continent’s fast-growing market as well as its growing data storage needs.