Visa Inc., the global leader in payment card services, has unveiled plans to build a state-of-the-art data centre in Nigeria. The announcement was made during a meeting between Visa’s Regional President for Central and Eastern Europe, the Middle East, and Africa, Andrew Torre, and Nigeria’s Vice President Kashim Shettima at the Presidential Villa in Abuja.
The planned data centre is part of Visa’s broader investment strategy in Nigeria, to introduce advanced technologies that will further strengthen Nigeria’s position as a leading fintech hub in Africa.
Visa has been actively investing in Nigeria’s digital transformation. The company recently partnered with MoniePoint to enhance digital payment solutions and invested $200 million in Interswitch to improve digital transactions. Additionally, Visa has collaborated with ThriveAgric to support smallholder farmers and promote food security.
Andrew Torre reaffirmed Visa’s commitment to the Nigerian market, stating, “Visa has been making investments and will continue to make these investments in Nigeria.”
The new data centre is expected to play a pivotal role in driving innovation within the country’s growing digital economy.
Vice President Kashim Shettima welcomed Visa’s investment plans, emphasizing the government’s dedication to fostering partnerships that drive economic growth. He highlighted the administration’s focus on modernizing agriculture and leveraging technology as part of President Bola Ahmed Tinubu’s 8-point agenda.
“Nigeria is where the action is,” Shettima said. “Of the ten fintechs in Africa, about eight are in Nigeria. Agriculture is key to our agenda, and we must invest in technology and modernization.”
Visa’s announcement comes at a time when Nigeria is making significant strides toward enhancing its digital infrastructure. In October 2024, the government signed an agreement with Ericsson to expand 5G connectivity across the country. This collaboration aims to improve internet access and drive adoption of fintech and artificial intelligence technologies.
By establishing a local data centre, Visa is not only reinforcing its commitment to Nigeria but also aligning with the country’s vision of becoming a leading player in Africa’s digital economy.
The establishment of Visa’s data centre is expected to create jobs, attract further investments, and enhance digital payment systems across the country.
