Andrew Torre, Regional President for Central and Eastern Europe, the Middle East, and Africa at Visa Inc., has announced plans to build a data centre in Nigeria during a recent courtesy visit to Vice-President Kashim Shettima at the Presidential Villa in Abuja.
This new investment is part of Visa’s commitment to significantly enhance its technological footprint in the country, building on over $1 billion already invested in various initiatives.
Torre highlighted Visa’s substantial technological partnerships in Nigeria, including a collaboration with MoniePoint to develop digital payment solutions, a $200 million investment in Interswitch, and a partnership with ThriveAgric aimed at empowering smallholder farmers and improving food security.
“The plan to establish this data centre is aimed at introducing new technologies to the Nigerian market, which will further bolster the nation’s growing digital economy,” said Torre. The data centre represents Visa’s commitment to leveraging Nigeria’s booming fintech landscape and meeting the technological needs of local businesses and consumers.
Vice-President Shettima expressed strong support for Visa’s initiatives, emphasizing the Nigerian government’s dedication to collaboration with the private sector to drive growth and innovation. He acknowledged the crucial role of fintech in Nigeria’s economic landscape, noting that of the ten fintechs in Africa, about eight are in Nigeria, with MoniePoint as the latest addition.
Improving the agricultural sector is a key priority for the current administration under President Bola Tinubu’s 8-point agenda. Modernizing agriculture through the adoption of advanced technologies, better agricultural practices, and improved resources will play a key role. ThriveAgric’s focus on food security and data provision for farmers was highlighted as a vital component of achieving these improvements.
“We must embrace modernity to enhance our agricultural prices, seeds, fertilization, and technology,” said Shettima. “The partnership between the Nigerian government and Visa will continue to flourish and grow exponentially.”
With Visa’s plans to establish a data centre in Nigeria, the corporation is set to play a pivotal role in advancing Nigeria’s digital economy while enhancing its reputation as a key player in fintech innovation across Africa.
