Global payment powerhouse Visa, has declared that it will invest $1 billion by 2027 to grow its operations in Africa.
The pledge, according to a release, would be utilised to strengthen partnerships with strategic partners like businesses, governments, financial institutions, mobile network carriers, and fintechs.
More than 500 million Africans, according to Visa, are now underbanked or unbanked, and fewer than half of the adult population on the continent has used digital payment methods. Furthermore, more than 40 million businesses do not accept electronic payments.
Visa believes the increased investment will open up more chances to increase financial inclusion on the continent.