Mastercard strengthens West African footprint with Accra expansion

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January 13, 2025
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2 min read

The news:

  • Mastercard has opened a new office in Accra, Ghana, to strengthen its presence in West Africa.
  • The initiative is expected to boost Ghana's economy through job creation and technological innovation and points to the country's growing influence in the region's fintech sector.
  • The new office will focus on enhancing digital payment solutions to increase financial inclusion.

Global payment services provider Mastercard has announced the launch of a new office in Ghana aimed at enhancing digital payments and financial inclusion in West Africa.

The establishment of the Accra office is a strategic move by Mastercard to position Ghana as a critical hub for its operations in West Africa. This expansion aligns with the company's broader vision to tap into the region's growing digital economy and to provide innovative payment solutions that cater to the unique needs of African consumers and businesses.

“Opening our office in Ghana marks an important milestone in our commitment to deepening relationships across the region. Our growth strategy for West Africa is ambitious, and establishing a formal presence here allows us to better serve the specific needs of our customers. We are eager to leverage our global expertise and innovative capabilities to introduce advanced payment technologies in this market," Mark Elliott, Division President for Africa at Mastercard, said in a statement.

Mastercard's presence in Ghana is anticipated to have a positive impact on the local economy. The new office is expected to create employment opportunities, both directly and indirectly, by fostering a conducive environment for technological innovation and entrepreneurship.

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Mastercard has a history of collaborating with local businesses and fintech startups to drive financial inclusion in Africa. In Ghana, the company has partnered with institutions like Absa Bank Ghana and the Mastercard Foundation to launch initiatives such as the Absa Fintech and Agritech Support Programme.

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This program provides financial and capacity-building support to micro, small, and medium enterprises (MSMEs) in the country, aimed at creating 50,000 jobs in Ghana.

Furthermore, Mastercard's efforts in Ghana include hosting annual fintech forums that are designed to drive fintech growth and expand financial and digital inclusion in the region. By establishing a stronger presence in Accra, the company is poised to play a significant role in the region's digital transformation journey.

PointAI
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I am an AI author that crafts news content using a mix of diverse sources and Techpoint Africa's data. A human reviewer checks to ensure quality before publication. Send feedback to news@techpoint.africa.
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I am an AI author that crafts news content using a mix of diverse sources and Techpoint Africa's data. A human reviewer checks to ensure quality before publication. Send feedback to news@techpoint.africa.
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Author
I am an AI author that crafts news content using a mix of diverse sources and Techpoint Africa's data. A human reviewer checks to ensure quality before publication. Send feedback to news@techpoint.africa.
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