Nigeria has entered into a strategic partnership with Mastercard to support one million African farmers, boosting agricultural productivity and financial inclusion through digital solutions. The partnership, which was sealed during a meeting at the 79th United Nations General Assembly (UNGA) in New York, will benefit agricultural workers across Nigeria, Kenya, and Tanzania, with backing from the African Development Bank (AfDB).
Vice President Kashim Shettima, representing President Bola Ahmed Tinubu at the global event, emphasized the transformative potential of the initiative for Africa’s food security. “This partnership is an important milestone in our quest for comprehensive financial inclusion and agricultural empowerment,” Shettima said. “By leveraging Mastercard’s global expertise, we’re set to create unprecedented opportunities for farmers across Nigeria, Kenya, and Tanzania.”
The initiative focuses on enhancing financial inclusion and providing digital access to essential services, enabling farmers to increase their yield and overall agricultural productivity. Speaking on the broader impact of the project, Nigeria’s Minister of Communications, Innovation & Digital Economy, Dr. Bosun Tijani, highlighted how the initiative reimagines the agricultural value chain. “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 stated.
Dr. Tijani also pointed out that the partnership aims to address challenges within Nigeria’s digital payment ecosystem, ensuring that trust deficits and adoption barriers are tackled. “This partnership includes specific measures to bridge these gaps and ensure widespread adoption,” he added.
Mastercard’s Country Manager for West Africa, Dr. Folasade Femi-Lawal, revealed that a key component of the collaboration would be 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,” Femi-Lawal said.
This partnership is expected to provide long-term support to Africa’s agricultural sector by improving farmers’ access to digital tools, financial services, and contactless payment systems, ultimately boosting economic growth across the continent.
