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.
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