Visa to invest $1 bln in Africa over 5 years to cash in on e-payments boom - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Image: ReutersVisa Inc plans to invest $1 billion over the next five years in Africa to capitalize on the emerging economy’s 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,” Chief Executive Officer Alfred Kelly Jr said in a statement. Africa’s booming e-payments market is expected to see revenues grow by nearly 20% a year, reaching around $40 billion by 2025, compared with about $200 billion in Latin America, the report added.

The world’s largest payments processor has added over 50% more employees in the continent since the end of 2019, with the vast majority during the pandemic, he added.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Africa: FACT SHEET: U.S.- Africa Partnership in Promoting Two-Way Trade and Investment in AfricaDocument - Africa’s integration into global markets, demographic boom, and continent-wide spirit of entrepreneurship and innovation present an extraordinary opportunity for the United States to invest in Africa’s future.  The United States will support and facilitate mobilizing private capital to fuel economic growth, job creation, and greater U.S. participation in Africa’s future.  Together, business and government leaders will strengthen trade- and investment-enabling environments, inclu
Source: allafrica - 🏆 1. / 99 Read more »