Nigeria has announced a new partnership with Mastercard aimed at enhancing agricultural productivity and financial inclusion for one million African farmers across Nigeria, Kenya, and Tanzania.
The initiative, supported by the African Development Bank, seeks to provide farmers with improved yields and access to essential digital financial services.
The agreement was finalized during a meeting between Nigeria’s Vice President Kashim Shettima and Mastercard executives at the ongoing 79th UN General Assembly in New York.
Stanley Nkwocha, Senior Special Assistant to the Vice President on Media and Communications, revealed the details in a statement titled ‘UNGA79: Nigeria, Mastercard Partner to Support 1 Million African Farmers.’
Vice President Shettima emphasized the transformative potential of the initiative for Africa’s food security, describing it as a significant step towards achieving comprehensive financial inclusion and empowering farmers. He highlighted Mastercard’s global expertise as crucial to creating new opportunities for agricultural workers in the region.
Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, noted that the partnership would reimagine the agricultural value chain by introducing digital tools and financial services to boost productivity and economic growth.
He also addressed the challenges in Nigeria’s digital payment ecosystem, announcing measures to foster widespread adoption of contactless payment systems.
Mastercard’s West Africa Country Manager, Dr. Folasade Femi-Lawal, revealed that 160 contactless payment seminars are scheduled to begin in February, aimed at educating stakeholders and preparing the market for this technological advancement.
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