Amazon Web Services (AWS), the cloud computing division of Amazon, is expanding its presence in Africa by inviting early-stage fintech and fintech-adjacent startups to apply for their inaugural AWS FinTech Africa Accelerator program. The accelerator program will be hosted by AWS’ Startup Loft Accelerator and will exclusively focus on fintech startups operating in Africa. This comes after fintech startups in Africa raised over $2 billion USD in venture funding in 2022, making Africa’s fintech industry the top recipient of venture funding on the continent for several years.
AWS has been operating in Africa since 2004 when it opened its first development center in South Africa. Since then, AWS has opened several offices and data centers across Africa as it strives to become the predominant cloud service provider on the continent. In 2018, AWS announced the establishment of its Africa region, which was launched two years later in Cape Town. Currently, the Africa region is served by three AWS data centers, two of which are in South Africa and the other in Nairobi, Kenya. However, AWS has plans to expand further to cater to the rapidly expanding industry and data storage needs of the continent.
READ ALSO:
Dubai launches “04” platform to improve collaboration between government and customers
ANB Capital to launch Nextgen Trading Platform in partnership with Direct Financial Network Company
The AWS FinTech Africa Accelerator program is an equity-free initiative designed to support CEOs and CTOs of fintech startups in Africa. Participants will be provided with a range of resources, including strategy, tech team management, product development and fundraising preparation. Founders will also receive up to $25,000 USD in Activate Credits, along with other services, as part of AWS’ Activate program. Additionally, the program will involve industry expert-led workshops and one-on-one sessions aimed at addressing the specific challenges and opportunities each startup faces.
