The federal government has partnered with Mastercard to support 1million farmers across the continent through financial inclusion and contactless payment.
This was announced by the Vice President, Sen. Kashim Shettima after a meeting with Executives of Mastercard on the sidelines of the 79th United Nations General Assembly (UNGA) meeting in New York.
The project plan aims to support one million agricultural workers across Nigeria, Kenya, and Tanzania, focusing on improving financial inclusion and providing digital access to essential services, with backing from the African Development Bank.
During the meeting, the Vice President, representing President Tinubu at the annual global event, highlighted the initiative’s transformative potential for advancing Africa’s food security efforts.
He said, “This partnership is an important milestone in our quest for comprehensive financial inclusion and agricultural empowerment.”
Farmers and those in rural communities across Africa remain excluded from the financial system which prevents them from accessing finance to scale their operations. According to a report by the National Bureau of Statistics, (NBS) only 7% of farming communities received micro-credits from banks in 2022.