Economic Safari: Visa And Mastercard's Big Bet On Africa's Digital Wallets As E-commerce Growth Picks Up
Portfolio Pulse from Nabaparna Bhattacharya
Visa Inc. and Mastercard Incorporated are investing billions into African companies to capitalize on the rapid growth of e-commerce in the continent. The investments are focused on mobile money services, which are popular due to the scarcity of conventional banking infrastructures in Africa. The U.S. Commerce Department expects 435 million Africans to make online purchases by the end of the year, nearly double the pre-pandemic level. Mastercard has acquired a minority stake in MTN Group Ltd's fintech business and invested $100 million into Airtel Africa's mobile-money sphere. Visa has pledged to invest $1 billion into Africa over the next five years.
October 22, 2023 | 12:40 am
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POSITIVE IMPACT
Estee Lauder Companies is one of the vendors that could benefit from the growth of mobile money services in Africa.
As a vendor, Estee Lauder could potentially see an increase in sales and revenues in Africa due to the growth of mobile money services.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Mastercard is investing heavily in Africa's e-commerce growth, acquiring a minority stake in MTN Group Ltd's fintech business and investing $100 million into Airtel Africa's mobile-money sphere.
Mastercard's investments in Africa's e-commerce sector could potentially boost its revenues and market share in the region. The company's focus on mobile money services, which are popular in Africa, could also give it a competitive edge.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Netflix is one of the vendors that could benefit from the growth of mobile money services in Africa.
As a vendor, Netflix could potentially see an increase in subscriptions and revenues in Africa due to the growth of mobile money services.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Uber Technologies is one of the vendors that could benefit from the growth of mobile money services in Africa.
As a vendor, Uber could potentially see an increase in transactions and revenues in Africa due to the growth of mobile money services.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Visa has pledged to invest $1 billion into Africa over the next five years to expand its digital payment capabilities.
Visa's investment in Africa could potentially increase its revenues and market share in the region. The company's focus on expanding its digital payment capabilities could also give it a competitive edge.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100