Visa Foundation to invest $5 Million in Africa to Improve Female Participation in Digital Economy

The Visa Foundation has announced that it intends to contribute $5 million in grants and impact investments in Africa in order to support women’s participation in the digital economy.

The Visa Foundation stated that the investments were made in connection with US Vice President Kamala Harris’s trip to Africa along with the creation of a new Women in the Digital Economy Fund. The said move is aligned with Visa’s recent pledge to invest $1 billion in Africa to advance resilient, innovative, and inclusive economies.

Aida Diarra, Senior Vice President &Head of Sub-Saharan Africa, Visa stated that expanding access to digital financial services is at the very core of Visa’s purpose. He also said that the company and Visa Foundation were committed to aidingimprovement of gender disparity and connecting more people to the global economy.

“We welcome and are pleased to support important global initiatives, such as the Women in Digital Economy Fund, and we look forward to working with government, NGO and private sector partners to create equitable access for all,” said Aida.

Visa Foundation’s initiative will focus on boostingwomen entrepreneurs’ access to financial solutions and other services in Sub-Saharan Africa. The end goal is to drive equitable digital financial access as countries move towards digitization.