Africa Finance Corporation Launches Digital Economic Zone in Nigeria
- AFC will provide approximately $100 million in funding for the development of the Digital Economic Zone.
- The partnership was announced at the Global Africa Business Initiative during the UN General Assembly in New York.
- This initiative aims to enhance Nigeria's position in the global digital economy and drive sustainable development across Africa.
Africa Finance Corporation (AFC) has partnered with Itana to develop Africa's first Digital Economic Zone, with project development funding of approximately $100 million. This partnership was formalized during the Global Africa Business Initiative at the United Nations General Assembly in New York. The initiative aims to create eco-friendly live-work districts and a tech campus in Lagos, Nigeria, which will support startups through the Accelerate Africa program. AFC's involvement also includes the establishment of a Digital Economic Zone to facilitate operations for tech, finance, and service-based businesses across Africa. This collaboration is part of a broader effort to promote digital free zones in Nigeria, chaired by President Bola Tinubu, and aims to position Nigeria as a leader in the global digital economy. The project is expected to drive innovation, job creation, and sustainable economic development across the continent, leveraging Africa's growing digital landscape and youth population.