Nigeria and Mastercard have announced a major partnership to support one million farmers across Africa, focusing on improving agricultural productivity and access to essential digital services.
The initiative will target farmers in Nigeria, Kenya, and Tanzania, with backing from the African Development Bank (AfDB).
The partnership was formalized during a meeting between Nigeria’s Vice President Kashim Shettima and executives from Mastercard on the sidelines of the 79th Session of the United Nations General Assembly in New York. Shettima, who represented President Bola Ahmed Tinubu, emphasized the program’s potential to boost food security in Africa.
In a statement issued by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Shettima highlighted the significance of this collaboration. “This partnership marks a key milestone in our efforts to achieve financial inclusion and agricultural development. By harnessing Mastercard’s global expertise, we aim to create new opportunities for farmers in Nigeria, Kenya, and Tanzania,” he said.
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Dr. ‘Bosun Tijani, Minister of Communications, Innovation & Digital Economy, elaborated on how the initiative will enhance digital access to financial services for farmers, which is expected to increase productivity and drive economic growth in the agricultural sector. He noted, “We’re not just introducing new technologies; we’re rethinking the entire agricultural value chain to ensure every farmer, no matter where they are, has access to modern financial tools.”
Tijani also addressed the challenges in Nigeria’s digital payment system, particularly the lack of trust that has limited the widespread use of contactless payments. He assured that the partnership includes strategies to overcome these hurdles and promote broader adoption of digital payment solutions.
Dr. Folasade Femi-Lawal, Mastercard’s Country Manager for West Africa, added that a key aspect of the collaboration is the introduction of contactless payment systems. She announced that 160 contactless payment seminars are planned to start in February next year, aimed at educating stakeholders and preparing the market for this technological shift.
