Nigeria and MasterCard have announced a partnership aimed at supporting one million African farmers to improve yields and agriculture productivity.
The partnership was sealed during a meeting between Vice President Kashim Shettima and executives of MasterCard Corporation on the sidelines of the 79th Session of the United Nations General Assembly in New York
Speaking during the meeting, the vice-president said the initiative had transformative potential for Africa’s food security drive, stressing that “this partnership is an important milestone in our quest for comprehensive financial inclusion and agricultural empowerment.”
The vice-president said, “By leveraging MasterCard’s global expertise, we’re set to create unprecedented opportunities for farmers across Nigeria, Kenya, and Tanzania.”
Also speaking, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, said the partnership would provide digital access to critical financial services for agricultural workers.
“We’re not just introducing new technologies; we’re reimagining the entire agricultural value chain. Our goal is to ensure that every farmer, regardless of their location, has access to modern financial tools,” he said.
He said the initiative also addresses existing challenges in Nigeria’s digital payment ecosystem.
“We’re aware of the trust deficits that have hindered the full activation of contactless payments by some acquirers and banks. This partnership includes specific measures to bridge these gaps and ensure widespread adoption,” he said.
The Country Manager for West Africa at MasterCard, Dr. Folasade Femi-Lawal, said a key component of the partnership “is the rollout of contactless payment systems.”
“We’ re planning 160 contactless payment seminars starting next February. These seminars are crucial in educating stakeholders and preparing the market for this technological leap.”
