In order to increase investment in micro, small, and medium-sized businesses (MSMEs), which find it difficult to obtain the funding they need to develop, grow, and create jobs in Africa, the Mastercard Foundation Africa Growth Fund has collaborated with Capital Connect Africa (CCA). With full support from the Mastercard Foundation, the new fund-of-funds is supporting…
During a roundtable meeting with Mastercard in the capital of Zambia, Lusaka, US Vice President Kamala Harris called on leaders in the public and private sectors to fund national financial inclusion strategies in order to bridge the continent’s digital divide. Just 33% of people in Africa are believed to use the internet, while only 55%…
ALX, a technology training company with a focus on Africa that provides young Africans with technical and professional skills, has collaborated with Mastercard to introduce a fully sponsored Software Engineering training program with a target audience of 50 000 women worldwide. The United Nations International Women’s Day (IWD) theme, “DigitALL: Innovation and technology for gender…
Start Path Small Business, a new four-month initiative from Mastercard, will bring companies and entrepreneurs together to create and expand solutions that support simple, secure digital experiences for small and medium-sized businesses (SMEs). Startups are currently applying to the program to build cutting-edge accounting software, e-commerce solutions, lending platforms, payment technology, digital banking, and other…
In order to lower costs and risk for acquirers, Mastercard has teamed with Network International to address fraud, declines, and chargebacks. Through the collaboration, Network will make available to acquirers and companies in the area Mastercard’s Brighterion Artificial Intelligence (AI) technology for transaction fraud screening and merchant monitoring. Losses from credit card theft are anticipated…
Nigeria’s central bank today carried out its plan to introduce the AfriGo national domestic card program. The program, which was first unveiled at a Bankers’ Committee news conference in October 2022, involves the central bank in the market’s triopoly of card payment programs for Nigeria. Godwin Emefiele, the governor of the Central Bank of Nigeria,…
An initial $200 million has been pledged to the Mastercard Foundation Africa Growth Fund (MFAGF), a fund of funds that works through African investment vehicles to promote early-stage, growth-oriented SMEs on the continent. The Mastercard Foundation Africa Growth Fund seeks to provide young people, especially young women, with access to respectable and worthwhile employment. The…
Mastercard and fintech firm OPay have launched a strategic relationship that will bring digital commerce to millions of people across Africa and the Middle East, paving the way for greater financial inclusion and economic development. Thanks to a Mastercard virtual payment solution linked to the OPay eWallet, OPay users and merchants throughout the area –…
Trace and the Mastercard Foundation have collaborated to launch Trace Academia, a free, interactive, mobile-based learning application designed to help 26 million young Africans gain market-relevant skills. The Trace Academia App is available on Android and iOS and has been tested successfully in four African countries. Users can access courses in either English or French,…
Mastercard has reaffirmed its commitment to the UAE and the region by expanding its regional footprint and announcing a series of leadership changes designed to advance the company’s presence and operations while building on its 35-year growth and innovation journey. Mastercard has been at the forefront of digital transformation and payment technology innovation during this…
Mastercard and Meta are collaborating to support the digitization and growth of SMEs in the MEA (Middle East and Africa) region by hosting a training webinar with industry experts and a masterclass on how to manage uncertainty with renowned author and academic Nathan Furr, Associate Professor of Strategy at INSEAD. SMEs face numerous challenges, including…
Mastercard has partnered with MoneyFellows, the digitized ROSCA (Rotating Saving and Credit Association) system, to offer MoneyFellows customers a range of new digital solutions and services that will help drive the expansion of Egypt’s digital economy. MoneyFellows has taken the traditional ROSCA model, or “Game’eya” as referred to by Egyptians, into the digital age by offering…
Mastercard has appointed Gabriel Swanepoel as the new Country Manager for Mastercard in South Africa. This serves as a promotion from his current role as the VP of Business Integration for Mastercard, Southern Africa. As country manager, Swanepoel is responsible for further driving the company’s strategic vision, innovation and growth agenda, and building on its…
Mastercard has sealed a multifaceted partnership with Bakkt to enable buying, selling and holding cryptocurrency, likewise delivering unique, crypto-centric loyalty opportunities, and streamline issuance of branded crypto debit and credit cards to its customers. This partnership makes it easier for merchants, banks and fintechs in the U.S. to embrace and offer various cryptocurrency solutions and…
Mastercard has announced the creation of a new Sustainability Innovation Lab, which will lead the company’s continued development of environmentally sensitive digital products and solutions. As the global economy quickly digitizes, the Lab will focus on methods to empower businesses and consumers to revolutionize how they produce, distribute, and purchase products and services, guaranteeing that both people…