We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mastercard (MA), DFC to Digitalize Rural African Areas
Read MoreHide Full Article
Mastercard Incorporated (MA - Free Report) recently joined forces with the development finance institution, U.S. International Development Finance Corporation (DFC), consequent to the conclusion of the U.S.-Africa Leaders Summit.
The tie-up will extract an investment of up to $50 million from DFC toward organizations that can be financial institutions, agricultural and technology companies or other businesses but have to be a part of the Mastercard’s Community Pass network. The digital platform, Community Pass, was devised in a manner to counter infrastructure headwinds that often crop up in an effort to digitize rural areas.
The challenges might often relate to unsecure connectivity, less usage of smartphones and, the inadequacy of consistent identification of credentials.
Investment from a public sector company like DFC, when integrated with the prowess and technology of a tech giant like Mastercard, is an apt example of an initiative to enable businesses across rural areas to embrace the ongoing digitization trend.
Among the multiple benefits offered through the tie-up, increased access to digital tools, which is essential to growing one’s business or injecting financial security within operations, remains a noteworthy endeavor of the latest move.
The recent partnership marks yet another effort on the part of Mastercard to grow its Community Pass platform, which boasts a continuously expanding footprint across five African countries of Kenya, Tanzania, Uganda, Mozambique and Mauritania. MA targets to serve 15 million Community Pass users throughout the continent within 2027.
Initiatives similar to the latest one also reinforce Mastercard’s motive of capturing a significant share of the digital economy of the continent Africa, which continues to witness an emergence of digital technologies and substantial foreign investments. In September 2022, MA collaborated with the financial technology company Prophius to expand the reach of the contactless acceptance solution, PayContactless, to benefit the small businesses of Sub-Saharan Africa.
Coming back to the summit, at the end of which the MA-DFC collaboration was announced, one of the digital payments leaders, Visa (V - Free Report) unveiled plans to invest $1 billion in Africa over the next five years to capitalize on the continent’s rapid growth in the digital payment market.
Shares of Mastercard have gained 11.3% in the past six months compared with the industry’s 4% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold).
The bottom line of Bowman Consulting outpaced estimates in three of the last four quarters and missed the mark once, the average beat being 185.58%. The Zacks Consensus Estimate for BWMN’s 2022 earnings is pegged at 50 cents per share, which indicates a nearly 17-fold increase from the year-ago reported figure. The same for revenues suggests growth of 70.2% from the year-ago reported number. The consensus mark for BWMN’s 2022 earnings has moved 42.9% north in the past 60 days.
Huron Consulting’s earnings outpaced estimates in each of the trailing four quarters, the average being 19.26%. The Zacks Consensus Estimate for HURN’s 2022 earnings suggests an improvement of 26.4% from the year-ago reported figure. The same for revenues suggests growth of 21.4% from the year-ago reported number. The consensus mark for HURN’s 2022 earnings has moved 0.6% north in the past 60 days.
Shares of Bowman Consulting and Huron Consulting have gained 54.4% and 25.4%, respectively, in the past six months.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Mastercard (MA), DFC to Digitalize Rural African Areas
Mastercard Incorporated (MA - Free Report) recently joined forces with the development finance institution, U.S. International Development Finance Corporation (DFC), consequent to the conclusion of the U.S.-Africa Leaders Summit.
The tie-up will extract an investment of up to $50 million from DFC toward organizations that can be financial institutions, agricultural and technology companies or other businesses but have to be a part of the Mastercard’s Community Pass network. The digital platform, Community Pass, was devised in a manner to counter infrastructure headwinds that often crop up in an effort to digitize rural areas.
The challenges might often relate to unsecure connectivity, less usage of smartphones and, the inadequacy of consistent identification of credentials.
Investment from a public sector company like DFC, when integrated with the prowess and technology of a tech giant like Mastercard, is an apt example of an initiative to enable businesses across rural areas to embrace the ongoing digitization trend.
Among the multiple benefits offered through the tie-up, increased access to digital tools, which is essential to growing one’s business or injecting financial security within operations, remains a noteworthy endeavor of the latest move.
The recent partnership marks yet another effort on the part of Mastercard to grow its Community Pass platform, which boasts a continuously expanding footprint across five African countries of Kenya, Tanzania, Uganda, Mozambique and Mauritania. MA targets to serve 15 million Community Pass users throughout the continent within 2027.
Initiatives similar to the latest one also reinforce Mastercard’s motive of capturing a significant share of the digital economy of the continent Africa, which continues to witness an emergence of digital technologies and substantial foreign investments. In September 2022, MA collaborated with the financial technology company Prophius to expand the reach of the contactless acceptance solution, PayContactless, to benefit the small businesses of Sub-Saharan Africa.
Coming back to the summit, at the end of which the MA-DFC collaboration was announced, one of the digital payments leaders, Visa (V - Free Report) unveiled plans to invest $1 billion in Africa over the next five years to capitalize on the continent’s rapid growth in the digital payment market.
Shares of Mastercard have gained 11.3% in the past six months compared with the industry’s 4% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Business Services space are Bowman Consulting Group Ltd. (BWMN - Free Report) and Huron Consulting Group Inc. (HURN - Free Report) . While Bowman Consulting sports a Zacks Rank #1 (Strong Buy), Huron Consulting carries a Zacks Rank #2 at present (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Bowman Consulting outpaced estimates in three of the last four quarters and missed the mark once, the average beat being 185.58%. The Zacks Consensus Estimate for BWMN’s 2022 earnings is pegged at 50 cents per share, which indicates a nearly 17-fold increase from the year-ago reported figure. The same for revenues suggests growth of 70.2% from the year-ago reported number. The consensus mark for BWMN’s 2022 earnings has moved 42.9% north in the past 60 days.
Huron Consulting’s earnings outpaced estimates in each of the trailing four quarters, the average being 19.26%. The Zacks Consensus Estimate for HURN’s 2022 earnings suggests an improvement of 26.4% from the year-ago reported figure. The same for revenues suggests growth of 21.4% from the year-ago reported number. The consensus mark for HURN’s 2022 earnings has moved 0.6% north in the past 60 days.
Shares of Bowman Consulting and Huron Consulting have gained 54.4% and 25.4%, respectively, in the past six months.