Mastercard Strengthens West African Presence With Accra Office Launch

Mastercard Incorporated MA recently announced that it has strengthened its presence in West Africa by opening its first office in Accra, Ghana. This strategic move highlights the company’s dedication to fostering digital transformation and supporting financial inclusion across the region. This new office is an addition to existing offices in cities like Lagos, Nairobi, and Johannesburg, etc.This move bodes well for Mastercard as it will enable it to collaborate more effectively with Ghanaian stakeholders, provide tailored solutions, and advance the country’s financial ecosystem. By leveraging its global expertise, Mastercard aims to enhance access to advanced payment technologies, contributing to Ghana’s growing digital economy. This is a time opportune move as Ghana’s economy is growing, with a GDP per capita of $2,238 in 2023, driven by sectors like agriculture, mining, and digital infrastructure.Mastercard plans to support this growth by investing in local talent, fostering innovation, and creating opportunities that align with the nation’s economic goals. The company has already played a pivotal role in Ghana’s digital transformation through partnerships with fintech innovators and financial institutions. Collaborations with organizations like Access Bank, Fidelity Bank, and emerging players in the fintech space have improved cross-border payment systems and expanded digital services to underserved communities.Moves like these should enhance its payment volumes in the future. MA’s gross dollar volume registered an increase of 10% year over year worldwide in the third quarter of 2024, while the rest of the world GDV increased 12% year over year.MA’s Price PerformanceShares of Mastercard have gained 17.7% in the past year compared with the industry’s 18.4% growth.Image Source: Zacks Investment ResearchMA’s Zacks Rank & Key PicksMastercard currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the Business Services space are Coinbase Global, Inc. COIN, OppFi Inc. OPFI and Fiserv, Inc. FI. Coinbase and OppFi currently carry a Zacks Rank #1 (Strong Buy), while Fiserv carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The bottom line of Coinbase Global outpaced estimates in three of the last four quarters, met once, the average surprise being 341.4%. The Zacks Consensus Estimate for COIN’s 2024 earnings indicates an improvement of more than 14-fold from the year-ago figure. The same for revenues implies growth of 88.1% from the prior-year tally. The consensus mark for COIN’s 2024 earnings has moved 6.9% north in the past 30 days.OppFi’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 67.7%. The Zacks Consensus Estimate for OPFI’s 2024 earnings indicates an improvement of 68.6% from the year-ago figure. The same for revenues implies growth of 2.2% from the year-ago actual. The consensus mark for OPFI’s 2024 earnings has remained stable in the past 30 days.The bottom line of Fiserv outpaced estimates in each of the last four quarters, the average surprise being 3.1%. The Zacks Consensus Estimate for FI’s 2024 earnings indicates an improvement of 16.6% from the year-ago figure. The same for revenues implies growth of 7% from the prior-year tally. The consensus mark for FI’s 2024 earnings has remained stable in the past 30 days.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Mastercard Incorporated (MA): Free Stock Analysis Report Fiserv, Inc. (FI): Free Stock Analysis Report Coinbase Global, Inc. (COIN): Free Stock Analysis Report OppFi Inc. (OPFI): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks