VISA Africa integration index: Volume 2 - Realising Potential: Connecting Africa

Abstract

Foreword: Visa, in conjunction with our partners across Africa, touches the lives of over 500 million people, through our services and innovations. With our electronic payment network across the continent, we are helping to unleash the enormous potential of a rising Africa. And to better understand where we can serve Africa’s payment needs on a country specific basis, we produced the first Visa Africa Integration Index in 2013. The index measures the degree of economic integration within key trade corridors of sub-Saharan Africa namely West Africa, East Africa and Southern Africa. At present, these are Visa’s key African markets where we have an established infrastructure and growth strategy. The index was instructive in providing insights into areas where Africa is growing rapidly and integrating with the rest of the world. It also highlighted areas of untapped potential. This year the results of the Visa Africa Integration Index are very encouraging. The trend of greater integration across Africa continues. And integration is improving in nearly every country in our study. We expect this positive trend to continue as Africa integrates further not only with the world, but with itself. Visa contributes to improved integration through solutions that provide consistent payment standards. This has always been a cornerstone of our business. Innovations such as cross-border remittances, mobile money and commercial solutions, amongst others, all contribute to integration within the African continent and into the global economy. We will continue to produce the index to provide thought leadership on Africa’s regional integration, enable us to track changes and progress over time and ensure we provide Africans with the best way to pay and be paid. We also hope it can provide policymakers with an insightful and academically sound tool to shape economic decisions. Puneet Bahl, Group Country Manager: Visa sub-Saharan Africa