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[2007-10-04] Visa Africa Market Expands
VISA International has recorded a 20% growth amounting to 20.8 million cards across its card product range in sub-Saharan Africa at the end of June 2007 despite telecommunication infrastructure challenges.
Charles Niehus, Visa's head of business development (sub Saharan Africa), however, said Uganda is a new market where Visa hopes to increase its presence.
"Uganda is still a new market. Four member banks issuing cards is a success story because it's not an easy exercise. We are strict in terms of compliance so the quality of the cards issued by Ugandan banks is the same as anywhere in the world," he said in an interview.
Niehus said the number of visa debt cards issued in Uganda at the end of June 2007 was 152,000.
This compares poorly to Kenya's one million visa cards. Member banks in Uganda include Barclays, Standard Chartered, Stanbic and Crane.
