The vice president of Nigeria, Kashim Shettima has just welcomed a big investment pledge from Visa Inc. as the global payment solution seeks to establish Visa’s Nigeria Data Center infrastructure in the West African country.
During a courtesy visit paid to State House in Abuja on Friday, the Regional President of Visa for Central and Eastern Europe, the Middle East, and Africa (CEMEA) Mr Andrew Torre, reaffirmed the commitment of the company to the general Nigerian market.
Visa’s Nigeria Data Center Factsheet
Investment and expansion:
- Visa Inc. is expanding its investment in Nigeria, which already exceeds $1 billion.
- This expansion includes the establishment of a data center.
- This data center aims to introduce new technologies that will strengthen Nigeria’s growing digital economy.
Strategic partnerships:
Visa has established significant partnerships, including:
- A technological partnership with MoniePoint to enhance digital payment solutions.
- A $200 million investment in Interswitch.
- A collaboration with ThriveAgric to support smallholder farmers and improve food security.
Government support:
- The Nigerian government, particularly Vice President Kashim Shettima, has expressed strong support for Visa’s investments.
- The government recognizes the importance of these investments in advancing Nigeria’s digital economy and agricultural sector.
- The government has also requested that visa consider investing in the “Outsource to Nigeria Initiative”.
Significance of the data centre:
- The data center is intended to bring advanced technologies to the Nigerian market.
- Visa’s initiatives are focused on bolstering the nation’s digital economy and contributing to its economic growth.
- Visa’s investments also are meant to help with the modernization of the agricultural sector within Nigeria
Also read: Kenyan Airtel Data Center to be Constructed in Nairobi
Additionally, he also highlighted that Visa has already invested more than $1 billion in the country. This is inclusive of a $200 million stake in Interswitch, which is a strategic partnership with MoniePoint to enhance the digital payment solutions. Additionally, it entails a collaboration with ThriveAgric to support the small scale farmers and boost the country’s food security .
Furthermore, the Nigerian Vice President also urged Visa Inc to put more investment in the Outsource to Nigeria Initiative of the federal government to assist in the facilitation of the access to funds for the creative sector. This will be a major boost for the country’s digital and creative economy.
Also read: MTN Nigeria is Building West Africa’s largest data centre
