Visa to Establish Data Centre in Nigeria, Expanding $1 Billion Investment
Global payment giant Visa is set to deepen its footprint in Nigeria with plans to establish a cutting-edge data centre infrastructure in the country. This move, aimed at enhancing Nigeria’s burgeoning digital economy, was revealed during a high-profile meeting between Visa executives and Vice-President Kashim Shettima in Abuja.
According to a statement from Stanley Nkwocha, senior special assistant to the president on media and communications (office of the vice-president), Andrew Torre, Visa’s regional president for Central and Eastern Europe, the Middle East, and Africa, led the delegation during the courtesy visit at the presidential villa.
The data centre initiative is part of Visa’s broader commitment to Nigeria, where it has already invested over $1 billion. These investments include a strategic technological partnership with Moniepoint to drive digital payment solutions, a $200 million stake in Interswitch, and a collaboration with ThriveAgric to empower smallholder farmers and boost food security.
Speaking at the meeting, Torre emphasized Visa’s long-term vision for Nigeria, stating that the planned data centre will introduce advanced technologies to strengthen the country’s digital ecosystem.
“Visa has been making significant investments and will continue to do so in Nigeria,” Torre said. “This new data centre will further support the digital transformation of businesses and financial services.”
Vice-President Shettima welcomed Visa’s expansion plans, assuring the delegation that the Nigerian government is committed to fostering a business-friendly environment.
“Nigeria is where the action is,” Shettima declared. “Of the 10 leading fintechs in Africa, about eight are based in Nigeria, with Moniepoint being the latest addition.”
He also lauded Visa’s investment in ThriveAgric, highlighting agriculture as a cornerstone of President Bola Tinubu’s administration’s 8-point agenda. “Agriculture is key to our national development. President Tinubu is keen on repositioning the sector through modernization and technology-driven solutions,” he added.
Visa’s commitment to Nigeria’s financial landscape was further reinforced in January when Moniepoint, a leading Nigerian fintech firm, announced an investment from Visa to accelerate the growth of small and medium enterprises (SMEs). This partnership is expected to expand financial inclusion and streamline digital payment access for businesses across the country.
