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Not only does digitization have the power to drive socioeconomic growth but research reveals that even a one percent increase in electronic payments has the potential to grow a countrys GDP.
The reality, however, is that digitization has yet to reach the majority of Africas citizens.
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By Mark Elliott, Division President of SubSaharan Africa at Mastercard
In the last few years there has been a great focus on the opportunities that digitization offers Africa.
To address persistent and widespread inequality we need an urgent rethink of current approaches to Africas digital divide because digital inclusion is an important part of achieving financial inclusion.
A recent discussion facilitated by US Vice President Kamala Harris in Lusaka, Zambia which Mastercard participated in focused on strategies to improve meaningful access to equitable digital finance for the citizens of Africa.
Keypoints
- Collaborations and partnerships
- A trillion dollar opportunity