The announcement was made by Visa chairman and CEO Alfred Kelly, Jr. at the US-Africa Business Forum, alongside the US-Africa Leaders Summit in Washington DC.
Expanding its investment, Visa says, will enable “greater access” to digital payments, which will further help in the development of financial services for individuals and businesses in the region.
Visa says that an estimated 500 million people in Africa have no access to formal financial services, less than half of the adult population have made or received digital payments in Africa, and over 40 million merchants do not accept digital payments.
