June19, 2019 –Andrew Torre, Visa Inc.’s (NYSE: V) Regional President for Central and Eastern Europe, Middle East and Africa has been reappointed to the President’s Advisory Council on Doing Business in Africa (PAC-DBIA), a U.S. private sector council which advises the President of the United States, through the Secretary of Commerce, on strengtheningU.S.-Africa commercial engagement.
Torre was first appointed to the President’s council on doing Business in Africa in September 2016.
“I have had the great privilege to work in Africa for many years and know it to be a diverse, energetic, and dynamic continent,” said Torre. “We believe that the fintech sector, coupled with African dynamism and entrepreneurship, will play a critical role in bringing sustainable and inclusive economic growth, and that companies like Visa can help increase the bonds of economic cooperation between the United States and African nations.
“Our involvement in African economies can help attract more inward investment and stimulate local African businesses to export their ideas to the rest of the world. We want to be a catalyst for African innovation and growth, and a partner in helping to bring inclusive economic opportunity for everyone. This is why we are proud to participate in this important Advisory Council and look forward to continued cooperation with our U.S. and African partners.”
In the previous term, Visa led initiatives to promote greater U.S.-Africa economic integration in the technology and financial services sectors. During the July 2018 PAC-DBIA fact-finding mission to the continent, Visa and the Government of Cote D’Ivoire signed an agreement to partner on digitizing key sectors of the economy, including agricultural supply chains and government disbursements, as well as initiatives to expand financial inclusion and education. This partnership underscores Visa’s dedication to partner with African governments to deliver solutions that meet unique economic development needs.
Visa has been operating in Africafor almost 20 years and has seven regional hub offices serving hundreds offinancial institutions, over a millionmerchant locations, and millions of cardholders across the continent. In November 2017, Visa opened its regional hub office for Francophone West Africa in Abidjan, its seventh African site. In addition, Visa is a proud sponsor of the African Cup of Nations football tournament which will kick off in Egypt in late June