Senegal and VISA Partner to Power Digital and Financial Innovation Hub
This partnership with VISA is poised to play a crucial role in strengthening Senegal's financial sovereignty, reducing the informal economy, improving transparency, and fostering local innovation, thereby contributing significantly to the nation's digital future.
In a move set to accelerate Senegal’s digital and financial transformation, the Minister of Digital, Alioune Sall, held a strategic meeting with a high-level delegation from VISA, led by its Vice-President and Director General for West and Central Africa (Francophone and Lusophone), Mr. Ismahill DIABY. The meeting, which took place yesterday, is a key step in the nation’s ambitious #NewDealTechnology initiative, aiming to position Senegal as a hub of financial and digital innovation.
VISA, a global leader in payment technologies with a presence in over 200 countries, has been active in Senegal since 2001, collaborating with local banks, fintechs, telecom operators, and national authorities to modernize financial systems and enhance financial inclusion.
To support the implementation of Senegal’s New Technological Deal, VISA plans to significantly strengthen its presence in the country. This expansion will involve broadening the reach of its services and introducing cutting-edge payment technologies, with several key objectives:
- Supporting Digital Payment Infrastructure: Assisting the state in increasing revenues, controlling costs, and modernizing the use of public services by citizens through digital payment solutions.
- Expanding Acceptance Points: Increasing the number of outlets across the country that accept Visa card payments.
- Promoting Contactless and Mobile Payments: Encouraging the adoption of modern, convenient payment methods.
- Financial Education: Supporting initiatives to educate consumers about the numerous benefits of electronic payments.
- Collaborating with Local Innovators: Working with Senegalese startups and fintechs to develop innovative solutions tailored to the unique needs of the local market.
The strategic discussion concluded with a concrete agreement between the parties:
- Establishment of a Joint Working Group: A dedicated team will be formed to explore avenues of collaboration on priority projects identified within the New Deal Technologique.
- Accelerated Deployment of VISA Solutions: Efforts will be made to expedite the rollout of Visa solutions, beginning with the identification of initial pilot projects.
This partnership with VISA is poised to play a crucial role in strengthening Senegal’s financial sovereignty, reducing the informal economy, improving transparency, and fostering local innovation, thereby contributing significantly to the nation’s digital future.
