Safaricom, M‑Pesa Africa and Japan’s Sumitomo Corporation have opened applications for the latest edition of the Spark Accelerator, a three‑month programme aimed at early‑stage fintech and content startups in Kenya.
Program details and past performance
The accelerator builds on Safaricom’s earlier Spark Venture Fund, launched in 2014 to back late‑seed and early‑growth companies with a Kenyan presence. That fund, worth US$1 million, invested an average of US$175,000 in six startups, including Sendy, Lynk, Ajua, Eneza, iProcure and FarmDrive. A second fund was announced in 2020, but public updates have been scarce.
Now the three partners will run a three‑month accelerator that blends training, mentorship, funding and go‑to‑market support. Startups accepted into the programme will receive technical assistance to build mini‑apps that embed within Safaricom’s M‑Pesa Super App, giving them access to more than four million users of that platform.
“The Spark Accelerator programme is in line with our ambition to be a purpose‑led technology company,” said Safaricom CEO Peter Ndegwa. “We are offering more than just capital injection, which is what we did previously with Spark Fund. We have restructured the program to address the challenges that hinder early startups from growing to scale.”
Sumitomo’s general manager of the smart communications platform business division, Katsuya Kashiki, added that the company’s “wide range of business experience will contribute to creating innovative businesses, support the expansion of the startup ecosystem.” He noted the effort will aid African economic development and human‑resource growth.
Support structure and expected outcomes
M‑Pesa Africa’s managing director, Sitoyo Lopokoiyit, highlighted the reach of the network: “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.”
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He said the accelerator will deliver funding, technical expertise, resources and mentorship, with the aim of generating innovations that link customers and businesses to new opportunities.
Beyond the three‑month sprint, M‑Pesa Africa will continue to offer market research, insights and capacity support for startups that wish to expand into other countries. The programme will culminate in an investor demo day where participants can pitch to Safaricom and partner venture‑capital firms. iHub, a subsidiary of Co‑Creation Hub, will act as the implementing partner.
Applications remain open until February 16, and interested founders can submit their proposals through the online portal.
For newcomers to Kenya’s tech scene, the Spark Accelerator represents a concrete step toward bridging the gap between innovative ideas and market access. By tying early‑stage ventures to a platform that already serves millions, the programme lowers the barrier to reaching a sizable customer base, a hurdle that typically hampers startup growth in emerging markets.
Startups that secure a place in the accelerator will also benefit from a team of experts familiar with local market conditions and new technologies. This ecosystem‑based approach is intended to accelerate product development and improve the likelihood of sustainable scaling.
