World Bank lines up startups for XL Africa accelerator

The World Bank has selected 20 startups to participate in its XL Africa accelerator programme, which offers help in securing early stage funding, a tailored curriculum and mentoring from a range of experts. A number of investment groups support the programme, which will see participants engaging online before attending a two-week residency in Cape Town.

The accelerator will conclude when all the startups pitch to corporations and investors at the XL Africa Venture Showcase at the African Angel Investor Summit.

Three startups from South Africa have been selected - data analysis company Aerobotics, e-book distributor Snapplify, and travel startup Timbuktu.

"These startups span the continent from Senegal in the west, to Kenya in the east, and south to South Africa, specialising in digital products and solutions encompassing the fields of fin-tech, transportation, healthcare, education, human resources, and B2B," XL Africa said.

"All companies provide a technology-intensive or technology-based product or service currently available in one or more African markets and show great potential to scale across the region and globally."