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Vice President Shettima welcomes Visa’s commitment to Nigeria’s financial and technological growth.
Visa Inc. has announced plans to establish a data center infrastructure in Nigeria, reinforcing its long-term investment commitment to the country. This move by the global payments leader aligns with its broader strategy to expand its footprint in Africa’s largest economy while accelerating digital transformation and financial inclusion.
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The announcement was made during a high-level meeting between Visa’s Regional President for Central and Eastern Europe, the Middle East, and Africa, Andrew Torre, and Nigeria’s Vice President, Senator Kashim Shettima, at the Presidential Villa in Abuja.
This initiative comes as part of Visa’s continued investment in Nigeria, which has exceeded $1 billion. An investment fueling fintech growth, mobile payments, and digital financial services.
Visa’s Investment in Nigeria’s Digital and Fintech Landscape
During the meeting, Visa’s Regional President, Andrew Torre, highlighted the strategic importance of Nigeria in the global digital economy.
“Visa has been making significant investments in Nigeria and will continue to do so. Our planned data center infrastructure will introduce new technologies that will strengthen the country’s growing digital economy and enable secure, seamless transactions for millions of Nigerians.”
Torre further explained that Visa is working with key partners, including:
- Hugo & Samsung – To launch mobile payment services, making transactions more competitive and cost-effective.
- Moniepoint – Enhancing digital payment infrastructure for businesses and individuals.
- Interswitch – Investing $200 million to support Nigeria’s fintech ecosystem and expand digital transaction capabilities.
- ThriveAgric – Providing financial and technological support to smallholder farmers to improve agricultural productivity and food security.
Vice President Shettima Endorses Visa’s Expanding Presence in Nigeria
Welcoming Visa’s commitment, Vice President Shettima assured the U.S.-based financial giant that its partnership with Nigeria would continue to flourish.
“Nigeria is where the action is. Out of the top ten fintech companies in Africa, eight are in Nigeria, with Moniepoint being the latest addition. We must continue to invest in technology, modernize our systems, and boost productivity across all sectors, including agriculture.”
The Vice President applauded Visa’s investment in ThriveAgric, aligning with President Bola Ahmed Tinubu’s administration’s 8-point agenda, which prioritizes agriculture as a key driver of economic development.
“If we must improve agriculture, we must embrace modernity—better seeds, fertilizers, and technology. ThriveAgric focuses on food security by providing up-to-date data to farmers, and this is the kind of innovation Nigeria needs.”
Shettima also urged Visa Inc. to invest in the Outsource to Nigeria Initiative (OTNI) —a federal government program. The initiative is designed to boost the digital and creative economy by facilitating access to finance, skills development, and global partnerships.
Visa Delegation Reinforces Commitment to Nigeria
Visa’s high-powered delegation to the meeting included:
- Andrew Torre – Regional President, Central and Eastern Europe, the Middle East, and Africa
- Andrew Uaboi – Senior Vice President, Head of Western and Central Africa
- Chidozie Arinze – Vice President, Head of West Africa
The visit further cements Nigeria’s position as a hub for fintech innovation, with Visa playing a pivotal role in expanding digital financial services across the country.
Strategic Benefits of Visa’s Data Center in Nigeria
Visa’s plan to set up a data center in Nigeria will:
- Enhance financial security – Providing secure, localized payment processing.
- Boost transaction efficiency – Reducing latency and operational costs for fintech providers.
- Promote financial inclusion – Expanding access to digital payment solutions for millions of Nigerians.
- Strengthen Nigeria’s digital economy – Driving technology adoption and attracting foreign direct investment (FDI).
A Major Boost for Nigeria’s Digital and Financial Future
Visa’s decision to establish a data center in Nigeria marks a significant milestone in the country’s digital transformation journey. By investing in cutting-edge payment infrastructure, Visa is helping to modernize financial services, promote financial inclusion, and drive economic growth.
With Nigeria emerging as a leading fintech hub in Africa, Visa’s continued presence will play a crucial role in shaping the future of digital payments and financial technology in the region.
