Visa is planning to expand its operations in
Egypt to drive growth across North and West Africa.
The network will be opening new premises in
New Cairo in a bid to keep up with the demands of the market, which
is said to growing rapidly.
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The new office will feature a
business-to-business call centre and a team dedicated to business
development across the region.
“After almost 10 years in the Egyptian market,
Visa has seen a tremendous need for expansion as growth in card
payments has increased 5-fold to over 10m cardholders,” said Tarek
Elhousseiny, Visa’s general manager for North and West Africa.
“Electronic payments constitute 9% of Egypt’s
GDP and act as a springboard to the development of strong, modern
economies.”
Visa has pledged to work with its clients, the
banking authorities and regulators to enhance the infrastructure of
the industry and to help increase the banked population to levels
above the current 10% level in Egypt.
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