(Cape Town/Geneva) The International Trade Centre (ITC) and Visa (NYSE: V) today launched a partnership to increase the participation of micro, small and medium-sized enterprises (MSMEs) and women-led businesses in international trade. The announcement was made at the 28th World Economic Forum Africa taking place in Cape Town, South Africa.
The Memorandum of Understanding (MOU) - outlining a framework of cooperation to build capacity and opportunities for small enterprises to engage in cross-border commerce - was signed by ITC’s Executive Director and Co-Chair of the WEF Africa meeting, Ms. Arancha González, and Visa’s Global Head of Government Engagement, Ambassador Demetrios Marantis. The collaboration links ITC’s extensive network and technical expertise in global trade with Visa’s 60 years of experience in delivering digital payments, strengthening cybersecurity and fostering financial inclusion.
“As a brand and global citizen, Visa is committed to ensuring that these small and micro enterprises are able to benefit from global trade,” said Ambassador Marantis. “We couldn’t be prouder to partner with ITC. For us, this is just the beginning of a sustained commitment to ITC and its work with small businesses and women-led companies in developing markets around the world.
“Small businesses are the backbone of our economies,” said Ms González.