Last year, the U.S. and Kenya announced the launch of free trade negotiations, the first of its kind between the U.S. and a sub-Saharan Africa country. If successful, it would be the most significant trade development in the region since the enactment of the African Growth and Opportunity Act (AGOA) trade preference program in 2000.
To better understand the key issues surrounding FTA negotiations, the U.S. Chamber’s U.S.-Africa Business Center (USAfBC), in partnership with Covington and the American Chamber of Commerce Kenya (AmCham Kenya), released a new in-depth analysis, “
“A trade agreement between the two countries would be the first of its kind between the U.S. and a sub-Saharan African country and would provide a steady framework for strengthening our relationships with economies across the continent by providing the necessary legal protections and enduring, reciprocal trade,” said Scott Eisner, Chamber senior vice president and USAfBC president .
86% of Nigerian consumers have access to more ways to pay compared to this time last year
78% of consumers in Nigeria say digital payments methods help them save money
81% say they are more loyal to retailers who offer multiple payment options and would shop at small businesses if offered more diverse ways to pay
As the world went into pandemic lockdown in 2020, consumers shifted their spending habits to embrace contactless tap-and-go payments and online shopping. As stores closed and social distancing took hold, retailers worldwide moved their businesses online, embraced e-commerce and explored the potential of new ways to pay. More than a year later, research from Mastercard shows that the adoption of new payment technologies is rising, and consumer appetite for new, fast and flexible digital experiences continues to grow.
Mastercard invests in Kasha a female focused e-commerce platform
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Mastercard has expanded its relationship with Kasha through an investment in the e-commerce platform. The companies will continue their shared efforts to ensure women across emerging markets have access to health and personal care products.
Kasha’s platform allows women across rural and urban locations to make confidential personal care orders online and offline. By utilizing the product catalogue available online or by placing orders using basic mobile handsets, women can order and pay for hygiene products. These products are then discretely delivered to them by local micro-entrepreneurs. This chain of supply helps to grow the micro economy.
Mastercard’s investment is the next step on a journey the organizations have been on since Kasha joined Mastercard StartPath in 2019. Since joining the award-winning start-up engagement program, Mastercard has worked with Kasha to integrate digital payment acceptance across its e-commerce platform, and most recently the partners joined forces to deliver virus, hygiene, and protection products to families across Kenya in efforts to help prevent the spread of COVID-19.
“Kasha’s goal is to ensure women in emerging markets get the products, information, and services they need for their health, self-care, and well-being,” said Joanna Bichsel, Kasha’s Founder and CEO “I am thrilled that we are continuing our collaboration with Mastercard and that we not only have a committed investor with shared values, but also an innovative partner as we continue to take Kasha’s development and growth to the next level.”
Mastercard has today announced the appointment of Shehryar Ali as Country Manager for East Africa.
Shehryar will be based at Mastercard’s regional head office in Nairobi and will be responsible for managing Mastercard’s operations in the region including Kenya and Tanzania. He will be reporting to Raghav Prasad, Division President Sub Saharan Africa.
“It is an absolute pleasure to welcome Shehryar as a member of the Sub-Saharan African team. From a financial and digital perspective, Shehryar’s leadership will be invaluable in driving the Mastercard vision and strategy in the East Africa region. ‘’ Raghav Prasad, Division President Sub Saharan Africa, Mastercard said.