Africa's PAPSSCARD and Visa/Mastercard Controls
A great idea: "Africa has made a landmark move toward financial independence with the launch of PAPSSCARD, the continent’s first unified Pan-African card payment system....The PAPSSCARD is a product of a tripartite collaboration between Afreximbank, the Pan-African Payment and Settlement System (PAPSS), and Mercury Payment Services (MPS). It is designed to serve as a home-grown solution for retail payments across Africa, allowing secure, fast, and low-cost transactions without reliance on global payment networks such as Visa or Mastercard."
Now in three years, I expect Visa and Mastercard to become the majority investors in PAPSSCARD. In the Igbo Nation, when a bird flies from the ground and perches on the anthill, it is still very much on the ground. Indeed, all the core card systems in Africa which seem indigenous have either Visa or Mastercard as core investors! Nothing bad about that, but just to modulate on those claims of "without reliance on global payment networks such as Visa or Mastercard"