13 °c
London
Sunday, April 18, 2021
No Result
View All Result
FurtherAsia FurtherArabia FurtherBrazil FurtherRussia
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Mastercard to set up office in Zimbabwe

FurtherAfrica by FurtherAfrica
October 23, 2018
in Africa, Banking, Finance, Financial Inclusion, Zimbabwe
Reading Time: 2 mins read
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Mastercard President and chief executive, Ajay Banga, has pledged his company’s support for Zimbabwe’s drive to create a new wave of digital payments and inclusive growth.

Banga today met with Minister of Finance and Economic Development, Professor Mthuli Ncube, Governor of the Reserve Bank of Zimbabwe (RBZ), Dr John Mangudya, Government and private sector stakeholders to formalise Mastercard’s support for payments innovation in Zimbabwe.

The Mastercard chief outlined how his company will collaborate with local private and public sector partners to drive greater financial inclusion through the implementation of innovative payment technologies.

He also disclosed MasterCard’s plans to establish an office in Harare to coordinate its efforts to address financial inclusion – a pressing challenge in Sub-Saharan Africa where only 42.6 percent of the adult population has access to an account.

Speaking to senior leaders from Zimbabwe’s top financial institutions, mobile network operators and retailers at the company’s CEO Conversations event in Harare, Banga said the new office will allow Mastercard to provide more effective support to its customers in neighbouring Southern African countries.

“Too many people and businesses are still excluded from the financial mainstream. This leaves them without the things we take for granted – a way to save money for a rainy day, get loans, or insure themselves or their crops,” said Banga.

“Harnessing our global technologies and expertise, our Zimbabwean team will closely collaborate with all stakeholders to solve local challenges and enable more inclusion in the formal financial system.”

Mastercard’s expertise and products will be relevant across Southern Africa and in Zimbabwe, as the country implements the National Financial Inclusion Strategy, which aims to increase access to formal financial services from 69 percent in 2014 to at least 90 percent by 2020.

Dr Mangudya said: “We see Mastercard’s investment as a positive development that will help us achieve our long-standing vision and our strategic plan to accelerate the shift towards cashless payments, modernise payments systems and infrastructure, and build an inclusive financial sector that supports the socio-economic development of the country.”

To increase financial inclusion in Zimbabwe, Mastercard recently partnered with EcoCash to launch EcoCash Scan & Pay, offering a simple, secure and instant QR code-based mobile payments solution to merchants and consumers. Since it leverages low-cost QR code technology rather than physical point of sale devices, Masterpass QR makes it simple and affordable for small and informal traders to accept digital payments.

“We applaud the remarkable steps Zimbabwe has taken towards modernising its electronic payments sector and the significant strides it is taking towards a more inclusive society,” said Mark Elliott, Division President for Mastercard, Southern Africa.

“We are excited about the opportunity to partner more closely with Zimbabwe’s financial institutions, businesses and public sector to bring greater interoperability and payments innovation to the benefit of consumers and merchants.”

Source: Chronicle

Related

Tags: adult populationAjay Bangacompany’s support for Zimbabwe’scredit carddigital paymentsDivision President for MastercardDr John MangudyaEcocashEcoCash Scan & PayFeatureGovernor of the Reserve Bank of Zimbabweinnovative payment technologiesMark ElliottmastercardMastercard President and chief executiveMinister of Finance and Economic Developmentmodernise payments systemsofficeProfessor Mthuli NcubeQR code technologyRBZset upzimbabweзимбабвеزيمبابويジンバブエ津巴布韦
ScanSendShare320Tweet200Share56Pin72Send
Previous Post

Is Africa starting to choke on China’s lending glut?

Next Post

Honey industry in central Mozambique held back by insufficiency of processing facilities

FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Rwanda tapping into Agri-tourism
Agriculture

Rwanda tapping into Agri-tourism

by Taarifa Rwanda
April 18, 2021
South Africa: Western Cape sees increase in domestic travel over Easter weekend
Weekend

South Africa: Western Cape sees increase in domestic travel over Easter weekend

by FurtherAfrica
April 17, 2021
Water

Zimbabwe to export water to South Africa

by Staff
April 16, 2021
Conference Access to Africa coming to Dakar, Senegal
Conference

Conference Access to Africa coming to Dakar, Senegal

by FurtherAfrica
April 16, 2021
Soon, Africa’s largest utility will not own any power lines
Energy

Tanzania rural electrification project continues to make progress

by Staff
April 16, 2021
Next Post

Honey industry in central Mozambique held back by insufficiency of processing facilities

LinkedIn partners with YES to tackle SA youth unemployment

Angola: Private investment proposals valued at US$10M

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2021 AFSIC
2022 Indaba Mining

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
CrudeMix Africa TechGist Africa Farmers Review Africa
Botswana unplugged Financial Insights Zambia Africa Oil & Power
Harambee Africa Novafrica  

Subscribe to FurtherAfrica

Enter your email address to receive notifications of new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

© 2021 FurtherMarkets

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?