Global payment company Visa Inc. announced Tuesday that it is opening an office in Côte D'Ivoire.
This expansion is part of Visa's strategy with the World Bank Group to provide universal financial access and electronic payment accounts to 500 million people by the end of 2020.
“Our presence in Côte d'Ivoire reflects the growing importance of the UEMOA region, which represents 40 percent of the collective GDP of the economy of West African states," Tarek Elhousseiny, general manager of North and Francophone Africa at Visa, said. "It showcases both our commitment and enthusiasm to help the Francophone African markets as they migrate from cash to digital payments to provide consumers across socio-economic groups with secure, convenient and reliable payment options. We plan to proactively work with the governments and partner banks across the region to roll out initiatives that are focused on financial inclusion and help consumers realize the full potential of electronic payments while expanding the technology and global expertise that would support economic growth plans in the region."
Visa is working with several government representatives and local organizations to establish its new office.
“This is indeed great news, it will help Côte d'Ivoire in its endeavors to promote electronic payments in the country and drive financial inclusion to the benefit of the overall economy,” Minister of Finance Koné Adama said.