Applications are now open for the Spark Accelerator, a three‑month programme that aims to lift early‑stage fintech and content firms in Kenya. The telecom operator and its mobile money service have teamed up with a Japanese conglomerate to offer mentorship, capital and market access.
New cohort seeks funding and market access
The cohort starts in March.
The initiative builds on a 2014 venture fund that deployed about US$175,000 to six local ventures, including a logistics platform and a digital education app. A second fund was announced in 2020, but details have been scarce since.
“The Spark Accelerator programme is in line with our ambition to be a purpose‑led technology company,” said Peter Ndegwa, CEO of Safaricom.
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He added that the accelerator offers more than just capital injection, unlike the earlier Spark Fund, and that the program has been restructured to address challenges that hinder early startups from scaling.”
“Sumitomo Corporation’s wide range of business experience will contribute to creating innovative businesses and support the expansion of the startup ecosystem,” explained Katsuya Kashiki, general manager of the smart communications platform business division. “Through this programme, we will help develop the African economy, human‑resource capacity and a more prosperous life for people.”
Kenya’s tech scene has attracted foreign interest for over a decade, yet many founders still grapple with limited scaling pathways. By linking capital to real‑world distribution channels, accelerators can shorten the gap between prototype and profit.
Participating ventures will gain technical support to embed mini‑apps into the M‑PESA Super App, potentially reaching more than four million users. The platform’s integration layer is designed to simplify payments, data capture and customer engagement for fledgling products.
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“M‑PESA connects more than 60 million customers and five million businesses across eight countries, providing a unique opportunity for startups in Africa looking to grow and scale rapidly,” said Sitoyo Lopokoiyit, managing director of M‑PESA Africa. “We have therefore partnered with Sumitomo and Safaricom to launch the Spark Accelerator, offering funding, technical expertise, resources and mentorship to the next generation of the continent’s leading tech startups.”
The mobile money service will also supply market research, insights and capacity‑building help for firms eyeing expansion beyond Kenya’s borders. An investor demo day will close the three‑month cycle, where participants pitch to the telecom operator and partner venture‑capital firms. iHub, a pioneer in Kenya’s innovation ecosystem, will run the day‑to‑day activities.
Applications remain open until February 16, after which selected companies will begin the intensive cohort. Interested parties can submit proposals through the online portal linked in the announcement.
