U.S. Embassy Deputy Chief of Mission Christopher Krafft Launches the Mastercard’s Partnership with the Zambia National Association of Savings

Taj Padmodzi Hotel, Lusaka, Zambia
November 20, 2018

Honorable Minister of Finance Mwanakatwe
Honorable Minister of Commerce Trade and Industry Yaluma
Bank of Zambia Governor Kalyalya
Mastercard Division President Mark Elliot
Distinguished guests, ladies and gentlemen
All other protocols observed

Good morning.  On behalf of the U.S. Embassy, I offer my hearty congratulations to Mastercard on the launch of its Zambia program.  Soon, we will see over one million Zambians benefit from a service provided by Mastercard, which is a leading U.S. company in the industry and a globally recognized brand.  Mastercard’s partnership with the National Association of Savings and Credit Unions will enable more Zambians to exercise financial responsibility and handle their banking needs.  This endeavor exemplifies the potential of the U.S.-Zambia commercial relationship and the role that private sector plays as Zambians seek new economic opportunities and an improved standard of living.

U.S. technology is one of the greatest strengths of the American economy, and our companies deliver exceptional value for money.  We see Mastercard’s investment in Zambia as a signal of the willingness of American firms to invest in projects where the regulatory conditions enable them to help grow the Zambian economy.  Mastercard’s $7.3 million investment will yield greater accountability, donor transparency for financial inclusion, and stronger anti-fraud measures for customers on a trusted platform.

Thank you for this opportunity to promote U.S. investment.  The success of ventures such as this will prompt more U.S. companies to take a closer look at investment opportunities in Zambia.  Enjoy the rest of the event.