Visa Earmarks $1B For Africa's Digital Transformation

  • Visa Inc V committed to investing $1 billion in Africa over the next five years to advance digital transformation across the continent.
  • Visa's expanded investments indicate the company's long-term commitment to Africa's growth potential. 
  • Visa will enable greater access to digital payments as an entry point for developing formal financial services for individuals and merchants.
  • Also Read: Visa CEO Alfred F. Kelly Jr, Incidental To Its Digital Shift Retires, Names New Chief
  • Visa Chair and CEO Alfred F. Kelly, Jr. outlined the pledge during the U.S.-Africa Business Forum alongside the U.S.-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, fintech, and merchants.
  • The investments will also focus on strengthening the payment ecosystem through innovations and technologies, supporting the digitization of economies, and investing in upskilling, talent development, and capacity building.
  • Price Action: V shares traded higher by 1.12% at $215.42 on the last check Wednesday.
  • Photo Via Company
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