The Vice-President of Nigeria, Yemi Osinbajo, the President of the African Development Bank (AfDB), Akinwumi Adesina and other partners proceeded, this Tuesday, March 14 in Abuja and by videoconference, to the launch of the Investment Program in Digital and Creative Enterprises (i-DICE), informs a press release from the AfDB.
According to the financial institution, this launch marks the deployment of a flagship initiative that will help mobilize vital financing for Nigeria’s digital and creative industries.
In addition to officials from government, business and development finance institutions, the event saw the participation of young people working in the digital technology and creative sectors, students and investors.
The i-DICE program is an important step towards the development of entrepreneurship and innovation in digital technologies and creative industries, including film, fashion and music.
It is part of the Federal Government of Nigeria’s efforts to build back better, greener and more inclusively, and to create sustainable jobs for its burgeoning youth population. The program will cement the country’s position as Africa’s premier destination for start-up investment and youth entrepreneurship hub.
According to the press release, i-DICE is co-financed by the AfDB, the Islamic Development Bank and the French Development Agency. The Federal Government of Nigeria provides counterpart funding through the Bank of Industry, which also acts as the implementing agency.
A steering committee chaired by the office of the vice president will oversee the initiative in cooperation with a technical committee made up of business leaders and representatives of government ministries, departments and agencies.
It is specified that the DICE Fund, a venture capital fund to be created under the program, will mobilize additional funds from institutional investors and other private investors.
By OMA Newsletter N° 1088 of 14/03/2023
Article published under the direction of Dr. Najib Kettani
The OMA, NGO with an Intercontinental vocation
For the development of cultural exchanges
Valuing human potential
The promotion and consolidation of Africa’s development, and
Inter-African integration
