MasterCard is ensuring they understand the economic outcome of some countries and opportunities in Africa by working with central banks, mobile network operators and major retailers. These countries involved in these new market extensions are Chad, Rwanda, Liberia, Guinea-Bissau, Central African Republic, Sierra Leone, and Gambia.
[quote_box_right]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.[/quote_box_right]MasterCard’s middle East and Africa’s president Michael Miebach stated that “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. The continent has immense strategic importance to MasterCard and we will continue to invest in infrastructure, people and know-how in this part of the world. This has been the fastest growing area for MasterCard for the past few years, and we expect it to continue to register high growth.”
New technologies that would immensely bring together the banked and unbanked on the African continent are also being realized by MasterCard with many channels also which includes e-commerce, e-wallet services, this various systems helps consumers have a reach to all financial services. MasterCard has also increased its network to reach almost 60,000 ATM locations and 438,000 POS terminals across Africa.
