Visa Inc. Pledges to Establish Data Center in Nigeria: A Major Boost for Digital Economy and Food Security
ABUJA — Visa Inc., the global leader in digital payments, has announced plans to establish a state-of-the-art data center in Nigeria, marking a significant milestone in the country’s digital transformation journey. The announcement was made during a courtesy visit by Visa’s Regional President for Central and Eastern Europe, Middle East, and Africa (CEMEA), Andrew Torre, to Vice President Kashim Shettima at the Presidential Villa in Abuja on March 21, 2025.
The Data Center Initiative: Enhancing Digital Infrastructure
The proposed data center is part of Visa’s broader strategy to deepen its investments in Nigeria, which have already exceeded $1 billion. The facility will introduce advanced technologies to bolster Nigeria’s digital economy, including support for mobile payment services and enhanced fintech solutions.
“This data center will bring new technologies into the Nigerian market, enabling our partners like Hugo and Samsung to launch competitive and cost-effective mobile payment services,” Torre stated during the visit.
Visa’s Multi-Sector Investments in Nigeria
Visa’s commitment to Nigeria extends beyond the data center project. The company has made substantial investments in key sectors, including:
- Fintech Partnerships: A $200 million investment in Interswitch and a strategic collaboration with MoniePoint to foster digital payment solutions for small businesses and individuals.
- Agricultural Empowerment: A partnership with ThriveAgric to provide technological tools for smallholder farmers, enhancing food security and agricultural productivity.
- Digital Payment Innovation: Support for mobile payment systems through partnerships with global tech giants like Samsung.
Vice President Shettima’s Response
Vice President Kashim Shettima welcomed Visa’s pledge, emphasizing its alignment with President Bola Tinubu’s administration’s 8-point agenda, which prioritizes agriculture and digital transformation.
“Nigeria is where the action is. Of the ten fintechs in Africa, eight are based here. This partnership will only grow by leaps and bounds,” Shettima said. He also commended Visa for its investment in ThriveAgric, noting its role in advancing food security through technology.
Implications for Nigeria’s Economy
- Digital Economy Growth: The data center will strengthen Nigeria’s position as a hub for fintech innovation in Africa, attracting further investments and talent.
- Job Creation: The project is expected to generate employment opportunities in technology, infrastructure development, and related sectors.
- Agricultural Transformation: Visa’s collaboration with ThriveAgric aligns with national efforts to modernize agriculture, improving productivity and reducing food insecurity.
Background: Visa’s Commitment to Africa
Visa has been a key player in Africa’s digital economy, with a $1 billion investment pledge made at the 2022 US-Africa Business Forum. The company’s initiatives aim to expand access to digital literacy, payments, and formal financial services across the continent. Nigeria, as Africa’s largest economy and a leader in fintech innovation, has been a focal point of these efforts.
Conclusion
Visa Inc.’s pledge to establish a data center in Nigeria underscores its confidence in the country’s digital future. With investments spanning fintech, agriculture, and technology infrastructure, Visa is playing a pivotal role in driving Nigeria’s economic transformation. As the nation continues to embrace digital innovation, partnerships like this will be critical in shaping a more inclusive and prosperous future.
