Deputy President Paul Mashatile has secured a one billion rand investment from Visa to modernize South Africa's digital payment infrastructure over the next three years. The agreement, finalized during a B20 Summit side meeting, includes establishing a Visa-owned data center in Johannesburg, the first of its kind on the African continent. This facility is intended to process transactions domestically, which will increase payment speed and reliability for local users.
The investment is also designed to support small businesses and foster youth employment through associated training programs. Mashatile emphasized that the partnership aligns with national goals to stimulate inclusive economic growth and enhance financial inclusion. He further invited Visa to participate in the upcoming South Africa Investment Conference to explore additional collaborative opportunities.
The investment is also designed to support small businesses and foster youth employment through associated training programs. Mashatile emphasized that the partnership aligns with national goals to stimulate inclusive economic growth and enhance financial inclusion. He further invited Visa to participate in the upcoming South Africa Investment Conference to explore additional collaborative opportunities.
