During a visit to Nigeria on Tuesday, Western Union’s chief executive Hikmet Ersek told reporters that he expects that company’s digital business revenue to increase to $500 million per year by 2015. This figure would be up from the $150 million the company currently sees from digital business annually, Reuters reported.
Ersek stated that the company plans to cut prices, invest in new technology and seek opportunities for growth in the African market to reach this goal. He does not expect his company to further invest in major acquisitions.
“Africa is one of our strongest markets, especially Nigeria,” Ersek said. “Nigeria is at the forefront of our expansion plans.”
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