Mastercard invests $2M to support African content creators

Global payments firm Mastercard has announced a US$2.04 million investment in the content creation space in partnership with African influencer marketing platform Wowzi and Masria Digital Payments (MDP).

The five-year collaboration aims to transform the financial management landscape for content creators through innovative digital card solutions.

This initiative will see Wowzi's content creators provided with access to a range of digital card benefits while leveraging MDP's expertise in digital payments.

The cards are designed to offer content creators a secure user experience, simplifying both online and offline transactions.

"Content creators will now receive payments from brands, fans, or sponsors, directly onto their digital cards," the companies said.

"Our journey has always been driven by the belief that content creators are the heartbeat of the digital age. This strategic partnership with Mastercard and MDP represents a pivotal moment in our mission to empower these creators," said Wowzi Co-Founder and President Mike Otieno.

The Mastercard partnership will give Wowzi's content creators access to a range of digital card benefits while leveraging on MDP's expertise in digital payments. (Source: Image by kues1 on Freepik)

Mastercard's senior vice president and country manager for East Africa and Indian Ocean Islands, Shehryar Ali, said the company's decision to invest in the influencer and content creation space is due to its belief in the transformative power of the gig economy.

"This collaboration with Wowzi and Mastercard signifies our commitment to shaping the financial future for content creators, empowering them with more than just payments," added MDP Africa MD Frank Molla.

Mastercard's African partnerships

Mastercard has been investing and partnering with many African companies recently.

In April, it teamed up with pan-African payments company Onafriq to bring secure payments to consumers and small and midsized enterprises (SMEs) across the continent.

In February, the global payments firm invested US$200 million into MTN Group's fintech business, expanding on a commercial relationship between the payment-technology corporation and the telecoms operator.

That deal was originally announced in August 2023, but at the time MTN didn't say how big the investment would be.

Follow Connecting Africa on our new X account @connect__africa to get the latest telecoms and tech news across Africa.

Also in February, Mastercard appointed Folasade Femi-Lawal as its new country manager and area business head for West Africa.

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*Top image source: Image by DC Studio on Freepik

— Matshepo Sehloho, Associate Editor, Connecting Africa