Mastercard (MA) Opens Office in Mauritius to Expand Nationwide
Category Finance
Mastercard Incorporated MA recently inaugurated its first office in Mauritius. Located in the capital city of the country, Port Louis, the office is likely to provide an opportunity for the tech giant to strengthen its footprint in East Africa and Indian Ocean Islands.
One of the most longstanding endeavors of Mastercard has been to infuse digitization across every corner of the globe and opening a new office across a country that serves as a hub for innovation and digital transformation seems a well-timed move.
MA embarked on an active expansion spree in Mauritius, under which it has entered into some successful collaborations with the country's financial service providers. Such tie-ups intend to expand the reach of Mastercard's cutting-edge card offerings across different parts of the country and boost nationwide customer experiences.
Therefore, the latest announcement is yet another part of the expansion strategy that it follows in Mauritius. Having a formal presence in the country in the form of the newly inaugurated office may enable Mastercard to work closely with its partners and gain an in-depth understanding of the unique needs of Mauritius' customers. Consequent to this, the tech giant can utilize its global and local expertise as well as proven capabilities to introduce innovative payment technologies throughout the region.
This, in turn, aims to enable businesses and consumers of Mauritius to seamlessly engage in digital payments. Apart from looking after its interests in the form of a growing presence, the tech giant also remains committed to contributing to the nation's economy and technological landscape by hiring and training some expert professionals at the newly established office.
Quite obviously, the recent move is expected to result in a growing customer base for Mastercard and lead to the increased utilization of its product and services suite. This, in turn, may fetch higher revenues to MA. A solid digital suite built through several collaborations with renowned financial service providers and substantial investments has always positioned the tech giant well in harnessing booming digital growth prospects in various regions of the world.
Additionally, the new office in Mauritius bears testament to Mastercard's broader motive of bolstering its geographical footprint across Africa. The continent remains a favorite pick for MA, owing to its increased Internet adoption, a rapidly growing young population and higher usage of smartphones. In addition to Port Louis, the other prime African locations wherein Mastercard has set up offices are in Cairo, Casablanca, Johannesburg, Lagos and Nairobi.
Author: Zacks Equity Research