Partnership Between Nigeria And Mastercard Aims To Benefit One Million Farmers

Partnership Between Nigeria And Mastercard Aims To Benefit One Million Farmers

Nigeria and Mastercard have announced a collaborative initiative aimed at enhancing agricultural productivity for one million farmers in Africa. This project will assist agricultural workers in Nigeria, Kenya, and Tanzania by promoting financial inclusion and improving digital access to essential services, with support from the African Development Bank…….CONTINUE READING 

The partnership was finalized during a meeting between Vice President Kashim Shettima and Mastercard executives at the ongoing 79th Session of the UN General Assembly in New York. Stanley Nkwocha, Senior Special Assistant to the Vice President on Media and Communications, provided details in a statement titled “UNGA79: Nigeria, Mastercard Partner to Support 1 Million African Farmers.”

During the meeting, Vice President Shettima, who is representing President Bola Tinubu at the global event, emphasized the initiative’s potential to transform Africa’s food security efforts. He remarked, “This partnership marks a significant milestone in our journey toward comprehensive financial inclusion and agricultural empowerment. By leveraging Mastercard’s global expertise, we aim to create unparalleled opportunities for farmers in Nigeria, Kenya, and Tanzania.”

Dr. Bosun Tijani, Nigeria’s Minister of Communications, Innovation and Digital Economy, explained that the partnership will provide digital access to vital financial services for agricultural workers, which is expected to greatly enhance productivity and spur economic growth in the sector. “We are not only introducing new technologies but also reimagining the entire agricultural value chain. Our objective is to ensure that every farmer, no matter their location, has access to modern financial tools,” he stated.

Vice President Shettima also addressed challenges within Nigeria’s digital payment ecosystem, acknowledging existing trust issues that have impeded the widespread adoption of contactless payments by certain banks and acquirers. “This partnership includes specific measures to bridge these gaps and promote broad acceptance,” Tijani added.

Furthermore, Dr. Folasade Femi-Lawal, Mastercard’s Country Manager for West Africa, highlighted that a crucial aspect of the partnership involves the introduction of contactless payment systems. “We are planning 160 contactless payment seminars beginning next February. These seminars will be essential for educating stakeholders and preparing the market for this technological advancement,” she said.