African fintech ecosystem accelerates but still seeks sustainable models

During GITEX Africa in Marrakech, Visa showcased 18 startups from 10 countries participating in its Africa Fintech Accelerator program. The program has supported over 100 startups, with a cumulative valuation of $1.4 billion, highlighting the sector's dynamism driven by digital adoption and the need for solutions in cash-dominated markets. The ecosystem is evolving towards greater cooperation among startups, industrial partners, and financial institutions. Examples include Zazu and Chari's neobank offering for SMEs in Morocco, Credable's digital credit infrastructure partnership with Onafriq, and Kredete's exploration of stablecoins for payments across African markets and its expansion into the Gulf. These initiatives aim to address financial inclusion challenges. The accelerator provides strategic support and access to international networks to help startups move from innovation to deployment. However, scaling remains a central challenge, with many African startups struggling to expand beyond their initial markets or achieve sustainable profitability. Cooperation among stakeholders is seen as crucial for overcoming these hurdles. The Marrakech Demo Day underscored that African fintech's focus is shifting from mere innovation to building viable, long-term models that meet the practical needs of the population.