Amazon AWS Opens Applications for its Inaugural Accelerator Program for African Fintechs

Amazon AWS, the cloud computing division of the e-commerce retailer, has opened up applications for its inaugural edition of the AWS FinTech Africa Accelerator as it continues to strengthen its footprint in Africa.

AWS’ globally-recognized Startup Loft Accelerator hosts this program, but unlike other cohorts, this edition will focus on fintech and fintech-adjacent startups operating in Africa.

📊 African fintech startups maintained their funding lead in 2022

After several years over year and quarter over quarter, the African Fintech sector continues to represent the majority of funding raised on the continent in 2022. Yet in what happens to be the first time since at least early 2019, it briefly gave up the first place to Logistics & Transportation

TechloyEmmanuel Oyedeji

The AWS FinTech Africa Accelerator is an equity-free program designed to prepare founding members to navigate the complexities of fundraising and enable them with a wide variety of resources including strategy, tech team management, and product development.

AWS’ Activate program will provide participating startups with up to $25K USD in Activate Credits and many other services. Founders will also take part in a series of industry expert-led workshops and one-on-one sessions designed to address the specific challenges and opportunities each startup faces.

Applications for the accelerator remain open to pre-seed and seed-stage fintech startups operating in the African startup landscape until April 27, 2023.

This investment by the cloud service provider has the potential to further offer a significant boost to the African fintech landscape which raised over $2 billion in venture funding in 2022, by fostering fintech startup ideas and innovations and consequently driving financial inclusion across the African landscape.