The exponential growth in the middle income sector in Africa has seen significant growth for the bank, which has led to a greater demand for more sophisticated banking products. While the affluent market remains niche, the Visa Infinite Card offers their partners an aspirational edge along with world class services.
These extended activities followed a series of Infinite Product launches including Kenya, Tanzania and Uganda in East Africa; Botswana, Zambia and Zimbabwe in Southern Africa and Ghana and Nigeria in West Africa.
"The product, which provides a selection of exclusive travel, dining, shopping and lifestyle experiences to this select market, was the perfect product to compliment SCB's priority banking offering," said Washington Matsaira, area general manager for Southern Africa, Standard Chartered Bank. "It helps enhance our business in a sustainable way, by responding to customer needs and competitive pressures."
Nathan Falkenborg, head of premium products Africa at Visa, was in Harare, Zimbabwe where this market's first product workshop was conducted to highlight its support in the market. The workshop included attendees from across the continent including Zimbabwe, Botswana, Kenya, Uganda, Zambia, Ghana and Tanzania.
"Natural resources, mobile technology, and increasing urbanisation contribute to the growth of the affluent segment in Africa and sophisticated banks like SCB are advancing their affluent strategies by developing products that appeal to this high-value affluent segment. Visa is pleased to support their efforts by conducting strategy and product collaboration sessions and by providing a comprehensive suite of premium products," said Falkenborg.
