By Cynthia Ezekwe
The International Trade Centre (ITC), a multilateral agency that works towards global prosperity by connecting small businesses in developing countries to international, has partnered with Visa, an American multinational financial services corporation to provide young entrepreneurs, and e-commerce businesses in Africa with the tools, training, and resources they need to enhance their financial skills.
The partnership, which was disclosed in a statement made available to Business A.M, draws on Visa’s extensive tools, resources and expertise in payment solutions, as well as ITC’s work on empowering youth in trade using fit-for-purpose digital tools.
According to the statement, the newly signed partnership aims to update and improve the ITC Online payment solution finder, which helps businesses to find relevant payment solutions and sales channels in any given country, with background information on and contacts provided for the listed solutions.
The partnership will also bring Visa’s financial literacy and financial management tools, all of which are tailored for small business, to the ITC network of youth entrepreneurs, the Ye! Community.
In addition, Visa’s learning content on business and financial skills for entrepreneurs will be integrated into the ITC ecomConnect platform, supporting e-commerce businesses worldwide, while leading technical webinars to support youth-led and e-commerce businesses, presenting topics related to online payment solutions, and addressing questions from entrepreneurs and experts.
Pamela Coke-Hamilton, ITC executive director, while commenting on the partnership said, “Young people with their innovative ideas and entrepreneurial spirit are the future of Africa, and digital is the shortest distance between them and global markets. With our new partnership with Visa, young entrepreneurs will have the tools and financial skills needed to scale their businesses.’’
Also commenting, Carl Manlan, vice president and head of inclusive impact and sustainability for Visa Central Europe, Middle East and Africa (CEMEA), said Visa,as a global leader in payments, is uniquely positioned to drive inclusive economic growth with strong partners, like ITC, to upskill Africa’s next generation of young digital entrepreneurs and small to medium-sized businesses to drive innovation and to catalyze socioeconomic transformation.”
The statement further disclosed that ITC and Visa are committed to facilitating economic growth across Africa by equipping the continent’s predominantly youthful population, which more than 60 per cent are aged under 25, with the business skills and technical capabilities required to enter the workforce in an increasingly digital world, while fostering success for young African entrepreneurs, with the ultimate objective to facilitate sustainable, resilient and dynamic economies for all.
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