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Sudan Looking Forward to US Investments

Sudan Looking Forward to US Investments

Monday, 2 August, 2021 - 10:30
Sudan’s Central Bank headquarters in Khartoum. (Reuters file photo)

Chairman of Sudan’s Sovereignty Council Lt Gen Abdel Fattah al-Burhan stressed that his country welcomes US investments, ahead of the two-day visit of Andrew Torre, the Regional President for Central and Eastern Europe, Middle East, and Africa (CEMEA) at Visa.

It is Torre’s first visit since the country’s first Visa card was issued by United Capital Bank (UCB) earlier this year.

He is scheduled to arrive in Sudan on Monday to meet with some existing and potential partner banks and financial institutions, and top government officials to explore opportunities for close collaboration.

During a meeting on Saturday evening with a US delegation, Burhan praised bilateral relations between Khartoum and Washington.

He reiterated Sudan’s desire to establish a partnership with the US that is based on friendship and constructive cooperation.

Visa issued a press release indicating that Torre’s trip is the latest example of its efforts to build new partnerships and leverage its world-class payments technology to support Sudan’s financial inclusion and economic growth.

Visa is already working closely with eight licensed partners in Sudan to help enable a more inclusive and empowered economy.

Torre described Sudan as a “country with great potential” that is undergoing many positive economic developments.

“We are committed to partnering in support of Sudan’s transformation goals and advancing our mission to expand access and global economic inclusion so that more consumers and businesses can enjoy the benefits of digital payments.”

Torre said he looks forward to meeting and engaging in constructive dialogue with key banks and financial institutions, government agencies, and other economic stakeholders to see how new partnerships can be forged to build a trusted payments ecosystem that will drive the adoption of digital payments, which in turn will help solidify the country’s economic expansion and development efforts.

Visa’s focus is to drive acceptance of digital payments through traditional ATMs and POS networks and find opportunities to launch new digital products and services to Sudanese consumers and merchants.

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