Visa Incorporated has disclosed that it has been invited to join the United States President’s Advisory Council on Doing Business in Africa (PAC-DBIA).
President for Visa in Sub-Saharan Africa, Andrew Torre, will take the seat on the council, which was established by President Obama in 2014.
PAC-DBIA seeks to strengthen commercial engagement between the United States and Africa, encouraging U.S. companies to trade with, and invest in, Africa.
The Group Executive for Visa Central and Eastern Europe, Middle East and Africa (CEMEA), Kamran Siddiqi, was quoted in a statement to have said: “Visa’s appointment to this prestigious council gives us the opportunity to represent our African clients and partners’ interests at the highest level of the U.S. government, acting as an intermediary between the U.S. and African business interests.
“Africa is incredibly important to us and we look forward to working with other members to support real and sustainable economic growth there. Visa has a long history in enabling and growing electronic commerce in Africa together with its government, merchant and financial institution partners.
“Between 2011 and 2016, 25 million African consumers received first-time access to a digital payment product via Visa. The company is also working closely with partners in both the financial services and mobile industries to increase access to financial services for consumers in Africa.”
The PAC-DBIA recently expanded from 15 to 23 members, comprising small, medium and large enterprises. Focus areas include investment and access to capital, trade and supply chain development, infrastructure, and marketing and outreach.
The council promotes efforts to enhance the ability of U.S. companies to compete for major projects with a dedicated U.S.-Africa Infrastructure Center, support for capacity building activities for African financial regulators, and exchanges through training programs, partnerships, and knowledge sharing. It seeks to improve the perception of doing business in Africa, highlighting trade opportunities through an online Doing Business in Africa toolkit and targeted outreach events.