Amazon Web Services (AWS), the cloud computing division of Amazon, the world’s largest online retailer, continues its growth journey in Africa. The company is currently looking for early-stage entrepreneurs to join the first round of the AWS FinTech Africa Accelerator.
The world-famous ‘AWS Startup Loft Accelerator’ runs the program at Amazon. However, unlike previous cohorts, this one will focus on African fintech and firms.
According to the research firm Briter Bridges, fintech companies in Africa raised more than USD 2 billion in venture capital in 2022. This kept the continent’s fintech sector the top venture capital recipient for several years.
The cloud service provider (CSP), with its headquarters in the US, has a long history of operations in Africa. It founded its first office there in 2004 as it established a development centre in South Africa. Since then, Amazon has launched several offices and data centres to establish itself as the continent’s leading cloud service provider.
The business first declared its presence in Africa in 2018 and began operating there two years later, in 2020. Cape Town serves as the regional headquarters for AWS Africa. A centre is situated in each zone and is sufficiently far from the others geographically, so an issue at one centre won’t affect the AWS system or its clients. This is how ‘AWS Regions’ work. Three AWS data centres now provide service to the continent of Africa, with two of them located in South Africa and the third in Nairobi, Kenya.
AWS also intends to expand further in Africa to best meet the demands of the region’s rapidly growing industries and data storage requirements.
The ‘AWS FinTech Africa Accelerator’ is a no-equity programme created to work closely with CEOs and CTOs to provide them with a wide range of resources, including strategy, tech team management, product development, and assistance in guiding founders in preparing for navigating the complexities of fundraising.
Participating firms will sign up for AWS’ Activate programme, an initiative aimed at providing entrepreneurs with numerous other services and up to USD 25,000 in ‘Activate Credits’. Also, founders will participate in a series of workshops and one-on-one meetings given by industry experts intended to address the unique opportunities and problems each firm faces.