The Federal Government of Nigeria has partnered with Mastercard to empower one million African farmers with enhanced access to financial and digital services, aiming to boost agricultural productivity across the continent.
Vice President Kashim Shettima’s spokesperson, Stanley Nkwocha, announced the initiative, sealed at a high-level meeting between Shettima and Mastercard executives during the ongoing 79th UN General Assembly in New York. The collaboration, supported by the African Development Bank (AfDB), will benefit farmers in Nigeria, Kenya, and Tanzania, focusing on financial inclusion and modernizing agricultural systems through technology.
“This partnership is a game-changer for Africa’s food security,” Shettima said. “By leveraging Mastercard’s expertise, we are set to create unprecedented opportunities for farmers across Nigeria, Kenya, and Tanzania.”
Minister of Communications, Innovation & Digital Economy, Dr. Bosun Tijani, emphasized the transformative potential of this collaboration. “We’re not just introducing new technologies; we’re reimagining the entire agricultural value chain. Our goal is to ensure every farmer, regardless of location, has access to modern financial tools,” Tijani noted.
The initiative aims to address existing challenges within the digital payment ecosystem, including trust deficits in contactless payments, a hurdle for widespread adoption. “This partnership includes specific measures to bridge these gaps,” Tijani added.
Mastercard’s Country Manager for West Africa, Dr. Folasade Femi-Lawal, highlighted plans for rolling out contactless payment systems, stating that 160 seminars will be held across the region starting in February 2025 to prepare stakeholders for the shift. “These seminars are crucial in educating the market and ensuring a smooth transition to this technological leap,” Femi-Lawal remarked.
This partnership represents a significant step toward achieving sustainable growth in Africa’s agriculture sector by harnessing digital innovation and financial inclusion to empower smallholder farmers. With millions of farmers set to benefit, the initiative promises to reshape the continent’s agricultural landscape, enhancing productivity and contributing to economic development.
Through these collaborative efforts, African MSMEs can look forward to a future where digital and financial tools empower their operations, driving increased productivity and sustainable growth across the region.
