Visa engages Guinea on digital payments to accelerate financial sector transformation
Date: 2026-04-12
By: Nana Appiah Acquaye
The
Ministry of Economy, Finance and Budget of Guinea has held discussions with a
delegation from Visa Group aimed at accelerating the digitalisation of payments
and supporting the country’s financial sector transformation.
The
meeting brought together the Minister Economy, Finance and Budget, Mariama Cire
Sylla and Visa’s Vice-President for West and Central Africa in charge of
electronic payments, with talks focusing on expanding digital payment systems
in line with Guinea’s long-term development agenda under the Simandou 2040
programme.
Visa,
a global leader in electronic payments, operates with thousands of financial
institutions worldwide and a vast network of cards and digital payment tokens.
Its proposed engagement in Guinea is anchored on partnerships with the Central
Bank, the Guinean Electronic Payment Company and commercial banks to drive the
transition from cash-based transactions to digital systems.
Government
officials emphasised that Guinea’s economy remains largely cash-driven, making
the shift to digital payments a critical priority. The transition is expected
to support the formalisation of the economy by enabling more transparent,
secure and interoperable financial transactions.
The
anticipated impact of the initiative includes improved transparency in public
financial management, expansion of the tax base, reduced reliance on physical
cash and the modernisation of public treasury operations.
Discussions
also addressed key challenges such as transaction security, cost efficiency and
the importance of stronger collaboration among banks, telecommunications
operators and fintech firms to build an inclusive digital ecosystem.
The
Minister welcomed Visa’s interest and indicated support for the development of
a formal partnership framework, including the potential signing of a memorandum
of understanding with the Central Bank and the establishment of a dedicated
task force to drive implementation.
The
engagement marks a significant step in Guinea’s efforts to build a modern,
inclusive and resilient digital economy.
