Mastercard’s Ghana expansion to deepen financial inclusion

Mastercard has expanded its operations in West Africa with the opening of its first office in Accra, Ghana, to deepen financial inclusion.

In a notice on its website, the technology company said this strategic milestone underscores its commitment to supporting Ghana’s growing digital economy by providing innovative financial products and services tailored to the market.

“The establishment of a physical presence in Ghana further highlights Mastercard’s intent to deepen relationships with stakeholders and drive inclusive growth across the region. By setting up an office in Accra, Mastercard aims to accelerate its efforts in providing tailored solutions for Ghanaian stakeholders, facilitating closer collaborations and driving positive impact on the country’s financial landscape,” it said.

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Mark Elliott, Division President for Africa at Mastercard, said, “Opening our office in Ghana marks an important milestone in our commitment to deepening relationships across the region.

“Our growth strategy for West Africa is ambitious, and establishing a formal presence here allows us to better serve the specific needs of our customers. We are eager to leverage our global expertise and innovative capabilities to introduce advanced payment technologies in this market.”

Ghana continues its economic strides with a GDP per capita of $2,238 for 2023 and notable growth in sectors like agriculture, mining, and digital infrastructure.

“Ghana presents a tremendous opportunity for Mastercard to enhance its geographical presence in West Africa. We are committed to attracting and nurturing top talent and fostering an ecosystem that aims to contribute positively to the local economy and technological advancement,” said Folasade Femi-Lawal, Country Manager and Area Business Head, West Africa, Mastercard.

Mastercard’s commitment to Ghana goes beyond opening its office in Accra. Through strategic partnerships with innovative players such as Kalabash, KaiOS, Boost, and Smile ID and partnerships with financial institutions like Access Bank and Fidelity Bank to enhance cross-border payment solutions, Mastercard has been instrumental in driving financial inclusion and digital transformation in Ghana.