17 Dec AfDB board approves $170 million for investment in Nigeria’s digital and creative start-ups
The Board of Directors of the African Development Bank (AfDB) has approved a loan of $170 million to finance a digital and creative enterprises programme in Nigeria.
The investment in Digital and Creative Enterprises Program (i-DICE) is a Federal Government of Nigeria initiative promoting investment in digital and creative industries. It is part of Nigeria’s efforts to build back better, greener, and more inclusively, to create more sustainable jobs for the teeming youthful population.
The programme targets more than 68 million Nigerians aged 15 to 35 years who are recognized as leaders of innovative, early-stage, technology-enabled start-ups or as leaders of creative sector micro, small and medium sized enterprises. The program is co-financed by the Agence Française de Développement (AFD) and the Islamic Development Bank (IsDB).
“Governments have a much greater role than just policy making. They need to be innovative and create an enabling environment that includes infrastructure and de-risking to harness private sector investments in key growth sectors,” said African Development Bank President, Akinwumi A. Adesina.
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