December 20

Visa to Invest $1 Billion in Africa to Accelerate Digital Transformation

By Emma Okonji

Visa has pledged to invest $1 billion in Africa over the next five years to scale operations, deploy new innovative technologies, deepen collaboration with partners and advance innovative and inclusive economies across the continent.

Visa’s Chairman and CEO, Alfred Kelly Jr. made the pledge during the US-Africa Business Forum, alongside the just concluded US-Africa Leaders Summit in Washington, DC.  The pledge will further scale Visa’s operations in Africa, and deepen collaboration with strategic partners including governments, financial institutions, mobile network operators, fintechs and merchants.

According to Kelly, “Visa has been investing in Africa for several decades to grow a truly local business, and today our commitment to the continent remains as firm and unwavering as ever. Every day, Visa supports digital commerce and money movement in every country across the continent, and Africa remains central to Visa’s long-term growth plans. We look forward to continuing to work closely with our partners to advance the financial ecosystem, accelerate digitisation and to build resilient, innovative, and inclusive economies that will create shared opportunity and further spur Africa’s digital economy.”

Photo courtesy of diema.

Source: THISDAY LIVE (link opens in a new window)

Finance, Technology
digital inclusion, financial inclusion, fintech, impact investing, innovation, scale