Nigerian Vice President Kashim Shettima has welcomed Visa Inc.’s commitment to establishing data centre infrastructure in Nigeria. This development marks a significant milestone in bolstering the nation’s digital economy and underscores Visa’s confidence in Nigeria’s economic potential.
Last week, a delegation from Visa, including Senior Vice President and Head of Western and Central Africa, Andrew Uaboi, and Vice President and Head of West Africa, Chidozie Arinze, paid a courtesy visit to Vice President Shettima. During the meeting, they discussed Visa’s plans to invest in Nigeria’s digital infrastructure. Vice President Shettima expressed enthusiasm for Visa’s initiative and encouraged the company to also consider investing in the federal government’s Outsource to Nigeria Initiative. This program aims to facilitate access to finance for the creative sector, thereby boosting the nation’s digital and creative economy.
Visa’s planned investments and technological advancements reflect its commitment to strengthening Nigeria’s digital payments ecosystem. By establishing data centre infrastructure within the country, Visa aims to enhance transaction processing speeds, improve cybersecurity, and ensure compliance with local data protection regulations. This move is expected to contribute to job creation, knowledge transfer, and increased adoption of digital payments among businesses and consumers. As Nigeria continues to position itself as a hub for digital innovation, partnerships with global industry leaders like Visa will play a crucial role in shaping the future of financial services in the region.
In addition to the data centre initiative, Visa has demonstrated a strong commitment to Nigeria’s fintech sector through strategic investments. In January 2025, Visa invested in Moniepoint Inc., a Nigerian business payments and banking services platform. Founded in 2015, Moniepoint provides banking and payment services to small and medium-sized businesses and retail banking. It is one of the market leaders in Nigeria’s agent banking space, with over 300,000 point-of-sale agents and processing 5.2 billion transactions in 2023. Visa’s investment is expected to help Moniepoint expand its services for African businesses, further driving financial inclusion across the continent.
Furthermore, Visa has invested over $1 billion in Nigeria, including a $200 million investment in Interswitch, a Nigerian digital payments and commerce company. This substantial financial commitment underscores Visa’s confidence in Nigeria’s economic potential and its dedication to fostering a robust digital payments ecosystem within the country.
Visa’s ongoing investments and initiatives in Nigeria are poised to significantly impact the nation’s digital economy. By enhancing digital infrastructure, supporting local fintech companies, and promoting financial inclusion, Visa is contributing to the development of a more inclusive and technologically advanced financial landscape in Nigeria. These efforts align with the government’s objectives to attract foreign investment, create employment opportunities, and position Nigeria as a leading hub for digital innovation in Africa.
