When global companies help small companies to grow
Often small companies need to line up with international companies to grow. That has been the case with Mastercards strong expansion in Africa as seen with the Jaza Duka program in Kenya
Summary:
- Ten years ago, Mastercard were represented in just a few places in Africa. Now its credit card can be used in 3,5 million locations.
- Mastercard has teamed up with a big African company, the mobile phone operator, MTN, which has a huge customer network, which Mastercard now has access to.
- The structure makes it possible to help the smallest companies thrive, as they now have access to short-term credit and the can cope with digital payments from the customers.
The growth model for both Mastercard and the small companies has been explained by Michael Miebach, CEO in Mastercard, to World Economic Forum.
He concludes that Africa has much to teach others about the digital future. Existing business models and research often won’t translate, while services must be built from the ground up with local partnerships. There is a huge opportunity because billions are not yet involved in digital services, and there are no incumbents to disrupt.
In 2010 he held …
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