Deputy President Paul Mashatile has met with Visa executives on the sidelines of the Business 20 (B20) Summit.
The Deputy President met with Tareq Muhmood, Visa’s Regional President for Central and Eastern Europe, the Middle East, and Africa, and Bobby Thomson, Senior Vice President and Global Head of Government Affairs, as well as their team.
Thursday’s meeting occurred on the sidelines of the B20 Summit at OR Tambo House in Pretoria, the Deputy President’s Office said.
Mashatile expressed his gratitude to Visa’s executives for their ongoing support and commitment to improving local infrastructure and the digital environment.
This effort is expected to significantly enhance economic development and sustainability.
The Presidency said the meeting reaffirmed Visa’s long-term commitment to South Africa, which is backed by a R1 billion investment over the next three years.
A key component of this investment is the establishment of South Africa’s first domestic Visa data centre, which launched in June of this year and is the first of its kind in Africa.
“As a government, we remain receptive to new avenues or concepts for investment, and we are committed to enhancing partnerships to augment investment in our beautiful nation. Your commitment to our country’s infrastructure development has not gone unnoticed,” said Deputy President Mashatile.
The Deputy President also highlighted the significance of Visa’s partnership and investment in South Africa.
He noted that this collaboration would localise transaction processing, improve the reliability of payment services, and support innovations such as digital wallets.
Most importantly, he stated that it will empower small and medium-sized enterprises (SMEs), strengthen township economies, and promote youth development through training and mentorship programmes.
The Deputy President concluded the meeting by extending an invitation to Visa executives to attend the 2026 South Africa Investment Conference.
“South Africa will host the Investment Conference in March 2026, and we would like to encourage you to participate in this event as we explore further areas of investment and partnership that will benefit you as a company as well as South Africa and its people, especially the youth,” he said.
The B20 Summit 2025 is a significant event, as it is the first time an African country hosts the Group of 20 (G20).
The three-day summit, which concludes today, gathered international business leaders, policymakers, and global partners to discuss the theme: ’Inclusive Growth and Shared Prosperity through Global Cooperation’.
The high-level event serves as the culmination of a year of policy dialogue and task force engagement.
It is a platform for global dialogue, cross-sector collaboration and shared learning, connecting international perspectives with Africa’s leadership moment. – SAnews.gov.za
