The Clap
Visa (NYSE:V) intends to invest $1bn over 5 years in Africa to take advantage of the boom in e-payments.
What
The African region represents a strong investment opportunity for Visa, particularly in the e-payments business, which expects revenues to grow by 20% annually.
The investments are expected to boost Visa’s operations in Africa and establish stronger relationships with governments and businesses.
So What
Visa has significantly expanded in Africa since the end of 2019, adding 50% more employees in the region.
The company has already been investing in Africa for several decades amid the region’s growth.
Now What
Visa is continuing to develop new technologies to make e-payments more accessible. One example is the Visa Acceptance Cloud, which can turn any device into a payment terminal.
