Spark Accelerator launched by Safaricom, M-Pesa, Sumitomo to Support Kenyan startups

Safaricom, M-PESA Africa, and Sumitomo Corporation have joined forces to launch the Spark Accelerator, a program designed to propel early-stage fintech and content startups in Kenya to new heights.

This marks a significant shift from Safaricom’s previous Spark Venture Fund, which solely provided capital investments.

The Spark Accelerator offers a comprehensive support system, going beyond just funding. Participating startups will receive:

• Training and mentorship: Experts will guide them through critical growth phases, equipping them with valuable market knowledge and emerging tech insights.
• Go-to-market support: Leveraging Safaricom’s massive reach, startups will gain access to over 4 million M-PESA Super App users and 30 million customers overall.
• Technical assistance: Dedicated support will help them develop mini-apps seamlessly integrated within the M-PESA Super App, creating a frictionless user experience.

M-PESA’s expansive network across eight countries, connecting over 60 million customers and 5 million businesses, offers exceptional growth potential for participating startups.

They will access valuable market research, expert guidance, and the infrastructure to scale beyond Kenya.

Applications for the Spark Accelerator are open until February 16th.