Visa to set-up Africa integration index in Nigeria

Visa mobilepayment KiwanjaVisa aims to upgrade its electronic payment system to improve economic development in Nigeria. (Image source: kiwanja)Visa has announced it will launch its Africa Integration Index in Nigeria to enhance financial inclusion and provide an electronic payment system to its customers

The Visa Integration Index determines the level of economic integration within key trade areas in sub-Saharan Africa, Visa said.

According to Visa it aims to evaluate sub-Saharan Africa’s economic connectedness within 11 countries; Ghana, Nigeria, Kenya, Uganda, Rwanda,Tanzania, South Africa, Angola, Mozambique, Zimbabwe and Zambia. 

“Visa is a strong supporter of the Central Bank of Nigeria’s Cashless Lagos Vision 2020 project which aims at reducing the amount of physical cash circulating in the economy,” said Visa’s new group executive for CEMEA (Central and Eastern Europem Nuddke East and Africa) Kamran Siddiq.

“We believe this project will help modernise the payment system which in turn will drive greater economic development,” Siddiq continued

“This was the motivation behind the recent highly successful financial literacy challenge with the co-creation hub."

Siddiqi also revealed that Visa has plans to continue to enhance tourism and encourage cross border spending.

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