Visa Plans Data Centre In Nigeria To ‘Bolster Digital Economy’

Vice President Kashim Shettima has been informed about plans to build a data center in Nigeria by American multinational payment card services company Visa Inc.

In addition to its over $1 billion investments in Nigeria, which include a significant technological partnership with MoniePoint to promote digital payment options, a $200 million investment in Interswitch, and a partnership with ThriveAgriculture to advance smallholder farmers and improve food security, ThriveAgriculture has also invested.

According to a statement from Shettima’s media advisor, Stanley Nkwocha, the company’s regional leader for Central, Eastern Europe, Middle East, and Africa (CEMEA), Andrew Torre, made the disclosure during a courtesy visit to the Vice President at the Abuja Presidential Villa.

He noted that while Visa Inc. “has been making investments in Nigeria” and will continue to do so, the plan to site the data center infrastructure aims to introduce new technologies to the country to support the country’s expanding digital economy. To launch mobile payment services in a more competitive and cost-effective market, he claims partners like Hugo and Samsung demand some of Visa’s technologies.

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Vice President Shettima assured the US-based company team that Visa’s support and partnership will continue to grow exponentially.

Shettima also praised Visa for funding ThriveAgriculture, noting that Bola Ahmed Tinubu’s administration is very interested in repositioning the agricultural sector, which is at the top of the administration’s eight-point agenda.

He asserted that “the action takes place in Nigeria.” About eight of Africa’s ten fintechs are located in Nigeria, with Moniepoint the most recent addition. The current administration’s eight-point agenda includes agriculture. Bola Ahmed Tinubu, president, is very interested in modernizing and repositioning the agricultural sector in this country.

“We must embrace modernity, raise prices for agricultural products, promote seed production, fertilization, and adopt intermediate technology if we want to improve agriculture.” A company called ThriveAgriculture focuses on food security and provides current information to our farmers. And be assured that the partnership between the Nigerian government and Visa will only continue to grow exponentially.

The Nigerian Vice President urged Visa Inc. to contribute to the federal government’s “Outsource to Nigeria Initiative” to promote access to funding for the creative sector and promote the country’s digital and creative economy.

Source: Channels TV