American multinational payment card services corporation, Visa Inc., has announced plans to establish a data centre infrastructure in Nigeria.
This was disclosed by Vice President Kashim Shettima on his official X account.
Visa’s Regional President for Central and Eastern Europe, the Middle East, and Africa, Mr. Andrew Torre, disclosed this during a courtesy visit to Vice President Kashim Shettima at the Presidential Villa in Abuja.
“Visa Inc., an American multinational payment card services corporation, has updated Vice President Kashim Shettima on plans to site data centre infrastructure in Nigeria,” he stated.
Visa’s partnerships and contributions
The planned data centre infrastructure is part of Visa’s broader investment strategy in Nigeria, which has surpassed $1 billion.
- The company has engaged in major technological collaborations, including a substantial partnership with Moniepoint to foster digital payment solutions, a $200 million investment in Interswitch to enhance digital transactions, and a partnership with ThriveAgric to support smallholder farmers and strengthen food security in Nigeria.
Mr. Torre reaffirmed Visa’s commitment to the Nigerian market, emphasizing the company’s continued investments in the country.
“Visa has been making investments and will continue to make these investments in Nigeria.”
He added that the upcoming data centre is designed to introduce new technologies that will further enhance Nigeria’s growing digital economy.
Vice President Shettima’s response
Vice President Kashim Shettima welcomed Visa’s investment plans, assuring the corporation that the partnership between Visa and the Nigerian government “will continue to grow by leaps and bounds.”
He also commended Visa for its involvement in agricultural development through its partnership with ThriveAgric. He emphasized that the administration of President Bola Ahmed Tinubu is deeply committed to transforming Nigeria’s agricultural sector as part of its 8-point agenda.
“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 modernisation,” the Vice President said.
What you should know
- Visa’s data centre project aligns with Nigeria’s push for a stronger digital economy, reinforcing the country’s role as a key fintech hub in Africa.
- Nigeria has recently secured key partnerships to boost its technology and economic growth.
- In October 2024, the government signed an MoU with Ericsson to develop and expand 5G connectivity, aiming to enhance digital transformation across various sectors.
- This collaboration is expected to improve internet infrastructure and drive fintech and AI adoption.
