In a statement to the African Press Agency on Sunday, the firm said it is adding The Gambia, Chad, the Central African Republic, Guinea-Bissau, Liberia, Sierra Leone and Rwanda to its expanding theatre of operations on the continent.
The move means that MasterCard will now run 48 markets in Africa. “Africa’s ongoing economic development, steady population growth and encouraging political outlook means that there is an increasing need for innovative and secure payment solutions that address market needs,” Michael Miebach, Middle East and Africa president at MasterCard declared.
He also vowed that MasterCard will continue to invest in infrastructure, people and the know-how of the continent, by virtue of its strategic importance to his company. The move to broaden its Africa footprint is welcomed by banks in the continent.
“Our investment in Africa, through sharing industry knowledge and best practices, and by providing training for our customer banks, merchants and retailers, means we offer more opportunities for all stakeholders in the African payments sector and integrating better the continent’s economies with those elsewhere in the world” Miebach claimed.