Vice President Kashim Shettima has welcomed plans by Visa Inc. in a move to enhance Nigeria’s to establish a data centre in the country.
This development was disclosed by Visa’s Regional President for Central and Eastern Europe, Middle East, and Africa, Andrew Torre, during a courtesy visit to the Vice President at the Presidential Villa in Abuja.
Shettima, who welcomed the initiative, emphasised Nigeria’s role as a key player in Africa’s fintech industry. “Nigeria is where the action is. Of the ten fintechs in Africa, about eight are in Nigeria, with Moniepoint as the newest addition,” he said. Shettima also lauded Visa’s investment in ThriveAgric, aligning with President Bola Tinubu’s focus on modernizing agriculture.
Shettima urged Visa to consider investing in the federal government’s Outsource to Nigeria Initiative, which aims to boost the creative and digital economy by improving access to finance.
Torre said Visa has already invested over $1 billion in Nigeria, including a substantial technological partnership with MoniePoint to expand digital payment solutions, a $200 million investment in Interswitch, and a collaboration with ThriveAgric to support smallholder farmers and enhance food security.
“The plan to site the data centre is aimed at bringing new technologies into the Nigerian market that would bolster the nation’s growing digital economy,” Torre explained.
He noted that partners like Hugo and Samsung require Visa’s technologies to launch mobile payment services, making the market more competitive and cost-effective.
The Visa delegation included Senior Vice President Andrew Uaboi and Vice President Chidozie Arinze
