“Visa Inc. to Establish Data Centre in Nigeria as Part of $1 Billion Investment to Boost Digital Economy”
Thank you for reading this post, don't forget to subscribe!Visa Inc., a global leader in payment card services, has announced plans to establish a data centre infrastructure in Nigeria, expanding its footprint in the country as part of a larger investment strategy. This is in addition to Visa’s over $1 billion investments in Nigeria, which include a significant technological partnership with MoniePoint to advance digital payment solutions, a $200 million investment in Interswitch, and a collaboration with ThriveAgriculture to support smallholder farmers and improve food security across the nation.
The update was shared during a courtesy visit to Vice President Kashim Shettima at the Presidential Villa in Abuja, led by Visa’s Regional President for Central, Eastern Europe, the Middle East, and Africa (CEMEA), Andrew Torre. According to a statement released by Shettima’s media aide, Stanley Nkwocha, Torre explained that the data centre would bring new technological advancements into the Nigerian market, bolstering the nation’s growing digital economy. He also pointed out that Visa’s cutting-edge technologies would help partners like Hugo and Samsung launch mobile payment services, ensuring more competitiveness and a cost-effective market in Nigeria.
In his response, Vice President Shettima expressed appreciation for Visa’s commitment to Nigeria, assuring the delegation that the government was fully supportive of its investments. He also commended Visa for its partnership with ThriveAgriculture, which aligns with the administration’s focus on revitalizing the agricultural sector. Shettima emphasized that agriculture is a key priority in the administration’s 8-point agenda and stressed the importance of embracing modern technology to drive improvements in the sector.
Shettima stated, “Nigeria is where the action is. Of the ten fintechs in Africa, about eight are in Nigeria, with Moniepoint as the newest addition. Agriculture is key to the 8-point agenda of the present administration. President Bola Ahmed Tinubu is really keen on repositioning the agriculture industry here, and we have to invest in technology, we have to invest in modernization.”
He continued, “If we must improve on agriculture, we must embrace modernity, improve agricultural prices, seeds, fertilization, and intermediate technology. ThriveAgriculture is a company that has a focus on food security, providing up-to-date data to our farmers. And be rest assured that the patronage, the partnership between the government of Nigeria and Visa will only grow by leaps and bounds.”
Vice President Shettima also encouraged Visa Inc. to consider investing in the Nigerian government’s “Outsource to Nigeria” initiative, which aims to improve access to finance for the creative sector and further boost the nation’s digital and creative economy.
Visa’s delegation included Senior Vice President, Head of Western and Central Africa, Andrew Uaboi, and Vice President, Head of West Africa, Chidozie Arinze.
The partnership between Visa Inc. and Nigeria reflects the growing relationship between the global payments leader and the country’s digital economy. The data centre project is expected to provide a significant technological boost, further positioning Nigeria as a leading hub for digital innovation in Africa.
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