The Africa Finance Corporation (AFC) has announced a partnership with Itana to develop Africa’s first digital economic zone, with initial funding of approximately $100 million. This landmark project, hosted in Lagos, Nigeria, aims to facilitate seamless business operations and scaling for global and pan-African companies in the technology, finance and services sector. The collaboration was formalized during the Global Africa Business Initiative at the United Nations General Assembly in New York.
The Itana Digital Economic Zone will enable companies to set up and operate businesses remotely in Nigeria, benefiting from optimized laws, business incentives and services tailored to the digital economy. The project includes an eco-friendly technology campus and an accelerator program to support startups. Partners include Future Africa, PwC Nigeria and Charter Cities Institute.
The initiative, modeled on global technology hubs like Silicon Valley, aims to position Nigeria as a cornerstone of the global digital economy while providing competitive business environments and incentives.
R. E.
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