Visa plans to invest $1-billion over the next five years in Africa to capitalise on rapid growth in digital payments.
invest US$1-billion over the next five years in Africa to capitalise on the rapid growth in digital payments, the company said at the US-Africa Leaders Summit on Wednesday.
“Visa has been investing in Africa for several decades to grow a truly local business,” CEO Alfred Kelly Jr said in a statement.The investments in Africa shine a new light on a major growth opportunity on the continent where cash is likely to be challenged in coming years as e-payments gain momentum, according to a McKinsey report in September.
“It’s one of our fastest growing regions,” Andrew Torre, Visa’s regional president for Central and Eastern Europe, Middle East and Africa, said in an interview on Wednesday.
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