MasterCard reorganises Middle East, Africa business

MasterCard reorganises Middle East, Africa business

SERVICES NEWS

Business Live - Apr 20th 2012, 08:28

MasterCard on Thursday announced a new structure for its Middle East and Africa business, spurred by continuous economic development, steady population growth, a stable outlook and a large pool of young consumers entering the workplace each year. 

The Middle East and Africa (MEA) business will comprise three divisions, Middle East & North Africa (MENA), Sub Sahara Africa and South Africa, clustering a total of 69 markets stretching from Afghanistan to South Africa and from Morocco to Pakistan.

This change will enable MasterCard to get closer to its customer banks, merchants and consumers in the markets, it said.

"A new team has been established to support the MEA business reporting to Michael Miebach, president, Middle East and Africa, MasterCard Worldwide," the global payments and technology company commented.

According to Miebac, the new organisational structure and appointments were part of its strategic decision to invest expertise, resources and know-how in a part of the world that continued to register strong economic growth.

"This new structure will help us streamline our investments in areas that drive accelerated growth while helping MasterCard get even closer to our customers," he said.

South Africa will now form a division on its own, led, in the interim, by Anna Jones, division president, who will drive strategic development and forge closer business alliances with key stakeholders.

She will also be responsible for developing and promoting MasterCard products and services. Jones will be transitioning into a new role as Head of E-commerce and Mobile Products for MEA based in Johannesburg.

A new division president of South Africa will be appointed in due course, MasterCard said.

"The move will help us bring our international expertise and resources much closer to these emerging markets," Jones noted.

MasterCard in collaboration with local mobile-centric payments and financial services company - Oltio - recently introduced MasterCard Mobile to the South African market.

MasterCard Mobile is a payment platform that will enable MasterCard and Maestro cardholders to use their PIN-based debit, cheque or credit cards issued by Absa, Nedbank and Standard Bank, and a mobile phone on the MTN or Vodacom network to pay for online purchases.

A key feature of MasterCard Mobile is that it enables these Maestro cardholders to make secure online purchases for the first time, which in the past has not been the case. In addition, the relevant MasterCard debit and credit cardholders will also be able to use the payment platform.