Shettima Welcomes Visa’s Plans to Establish Data Centre in Nigeria

Visa Inc., the American multinational payment card services corporation, has updated Vice President Kashim Shettima on its plans to establish data centre infrastructure in Nigeria, expanding its investments in the country.

This announcement is part of Visa’s broader strategy in Nigeria, where it has already invested over $1 billion. These investments include a significant technological partnership with MoniePoint to promote digital payment solutions, a $200 million investment in Interswitch, and a collaboration with ThriveAgric to support smallholder farmers and enhance food security.

Visa’s Regional President for Central & Eastern Europe, the Middle East, and Africa (CEMEA), Mr. Andrew Torre, made the announcement during a courtesy visit to Vice President Shettima at the Presidential Villa in Abuja. Torre emphasized that Visa’s continued investment in Nigeria is aimed at introducing new technologies that will strengthen the nation’s burgeoning digital economy.

He noted that Visa’s technologies are crucial for partners like Hugo and Samsung, who are working to launch mobile payment services in Nigeria, providing more competitive and cost-effective solutions in the market.

In response, Vice President Shettima assured the Visa delegation that the partnership between the Nigerian government and Visa would continue to flourish. He also praised Visa’s investment in ThriveAgric, highlighting the administration’s commitment to revitalizing Nigeria’s agriculture sector as a key priority within President Bola Tinubu’s 8-point agenda.

“Nigeria is where the action is. Of the ten fintechs in Africa, about eight are in Nigeria, with Moniepoint being the newest addition,” Shettima said. “Agriculture is key to the 8-point agenda of the present administration. President Bola Ahmed Tinubu is passionate about modernizing the agriculture industry, and technology must be a core part of that transformation.”

Shettima further explained that improving agriculture in Nigeria requires embracing modern technology, including advancements in pricing, seeds, fertilizers, and agricultural techniques. He emphasized that ThriveAgric, which focuses on food security, is helping to provide crucial data to farmers.

The Vice President also encouraged Visa to invest in the federal government’s Outsource to Nigeria Initiative, aimed at boosting access to finance for the creative sector and further developing the nation’s digital and creative economy.

The Visa delegation included Senior Vice President and Head of Western and Central Africa, Mr. Andrew Uaboi, and Vice President and Head of West Africa, Mr. Chidozie Arinze.