Visa's Torre reappointed to US president's advisory council on doing business in Africa

Visa's Torre reappointed to US president's advisory council on doing business in Africa

JOHANNESBURG  - Financial services company Visa said on Wednesday its regional president for Central and Eastern Europe, Middle East and Africa, Andrew Torre, had been reappointed to a U.S. private sector council that advises the president on doing business in Africa.

“I have had the great privilege to work in Africa for many years and know it to be a diverse, energetic, and dynamic continent,” Torre said in a statement.

"We believe that the fintech sector, coupled with African dynamism and entrepreneurship, will play a critical role in bringing sustainable and inclusive economic growth, and that companies like Visa can help increase the bonds of economic cooperation between the United States and African nations."

He said involvement in African economies could help attract more inward investment and stimulate African businesses to export their ideas to the rest of the world. 

Visa said it had in the previous term led initiatives to promote greater U.S.-Africa economic integration in the technology and financial services sectors.

During a July 2018 fact-finding mission to the continent, Visa and the government of Cote D’Ivoire signed an agreement to partner on digitizing key sectors of the economy, including agricultural supply chains and government disbursements, as well as initiatives to expand financial inclusion and education. 

"This partnership underscores Visa’s dedication to partner with African governments to deliver solutions that meet unique economic development needs," the company said on Wednesday.

Visa, a global leader in digital payments, has operated in Africa for almost 20 years and has seven regional hub offices serving hundreds of financial institutions, over a million merchant locations, and millions of cardholders across the continent.