Mastercard President and CEO, Ajay Banga met with key government and private sector stakeholders including Zimbabwe’s Minister of Finance and Economic Development, Mthuli Ncube, and Governor of the Reserve Bank of Zimbabwe, Dr John Mangudya, to formalise Mastercard’s support for payments innovation in Zimbabwe.
He also disclosed Mastercard’s plans to establish an office in Harare to coordinate its efforts to address financial inclusion. Banga made the announcement in Harare today at the company’s CEO Conversations event, a gathering of senior leaders from top financial institutions, mobile network operators and retailers. The new office will allow Mastercard to provide more effective support to its customers in neighbouring Southern African countries. Said Banga:
Too many people and businesses are still excluded from the financial mainstream. This leaves them without the things we take for granted – a way to save money for a rainy day, get loans, or insure themselves or their crops. Harnessing our global technologies and expertise, our Zimbabwean team will closely collaborate with all stakeholders to solve local challenges and enable more inclusion in the formal financial system.