Mastercard opens office in GhanaMastercard opens office in Ghana

Global payments firm Mastercard has expanded its operations in West Africa with the opening of its first office in Accra, Ghana.

In a statement, the company said the expansion is a strategic milestone which underscores its commitment to supporting Ghana's growing digital economy by providing innovative financial products and services tailored to the market.

It added that the establishment of a physical presence in Ghana further highlights the company's intent to deepen relationships with stakeholders and drive inclusive growth across the region. 

Global payments firm Mastercard has expanded its operations in West Africa with the opening of its first office in Accra, Ghana. (Source: created by Allexxandar - www.freepik.com)

"By setting up an office in Accra, Mastercard aims to accelerate its efforts in providing tailored solutions for Ghanaian stakeholders, facilitating closer collaborations and driving positive impact on the country’s financial landscape," the company said.

Mark Elliott, division president for Africa at Mastercard, said the company was eager to use its global expertise and capacity for innovation to introduce advanced payment technologies in the Ghanaian market.

Folasade Femi-Lawal, the country manager and area business head for West Africa at Mastercard, said the company was committed to attracting and nurturing top talent and fostering an ecosystem that aims to contribute positively to the local economy and technological advancement.

Connecting underserved communities

Alongside opening the new office, Mastercard has collaborated with several companies, including Kalabash, KaiOS, Boost, Smile ID, Access Bank and Fidelity Bank, to improve cross-border payment solutions, empowering local fintechs, and expanding access to digital services for underserved communities.

Mastercard has secured multiple agreements across Africa and the Middle East in recent months.

In October 2024, Mastercard and Orange Middle East and Africa announced a strategic partnership to expand access to mobile financial services across sub-Saharan Africa.

In March 2024, MTN Group and Mastercard launched a prepaid virtual bank card for MTN Mobile Money (MoMo) users in 13 African countries, complemented by a physical Mastercard companion card.

This initiative followed Mastercard's substantial investment of US$200 million into MTN Group's fintech division in February 2024, consolidating an existing commercial partnership.

In April 2024, Mastercard teamed up with Onafriq, a payments company, to boost digital commerce for consumers and SMEs across Africa.

In September 2024, Mastercard and Amazon Payment Services forged a multi-year agreement to enhance digital payment acceptance for merchants in 40 markets throughout the Middle East and Africa, including Egypt and South Africa.