Visa Inc. to establish data centre in Nigeria, invest over $1bn
By Kunle Sanni
Visa Inc., the global payment services giant, has announced plans to establish a data centre in Nigeria as part of its ongoing investment in the country’s digital economy.
The update was delivered by Visa’s Regional President for Central and Eastern Europe, the Middle East, and Africa (CEMEA), Andrew Torre, during a courtesy visit to Vice President Kashim Shettima at the Presidential Villa in Abuja.
Torre highlighted Visa’s commitment to Nigeria, noting that the company has already invested over $1 billion in the country. This includes a $200 million stake in Interswitch, a major partnership with MoniePoint to expand digital payments, and collaboration with ThriveAgric to support smallholder farmers and enhance food security.
He stated that the planned data centre will introduce advanced technologies to Nigeria’s market, further strengthening the nation’s growing digital economy. Additionally, Visa is working with partners such as Hugo and Samsung to develop mobile payment solutions that will enhance financial inclusion.
Vice President Shettima welcomed the initiative, reaffirming the government’s support for Visa’s investments. He emphasized Nigeria’s role as a key player in Africa’s fintech industry, noting that eight of the continent’s ten leading fintech companies operate in the country.
“Nigeria is where the action is,” Shettima said. “President Bola Ahmed Tinubu is focused on modernizing agriculture, and technology will play a critical role in improving farming practices, pricing, and overall food security. Visa’s investment in ThriveAgric aligns with this vision.”
The Vice President also 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.
The Visa delegation included Senior Vice President and Head of Western and Central Africa, Andrew Uaboi, and Vice President and Head of West Africa, Chidozie Arinze.
