Nigeria has become a go-to destination for tech and creative startups, and it’s not hard to see why.
The country has produced successful tech companies such as Flutterwave, and Paystack.
The creative industry has also grown in recent years, with the music and movie industries being the most notable.
The industry’s impressive growth in recent years has been driven by a growing youth population, and increasing internet penetration.
According to the World Intellectual Property Organisation, Nigeria is one of the top five African countries for the number of patent applications filed in the tech sector.
This is why the African Development Bank, is investing $618 million to boost Nigeria’s tech and creative startups through a program it launched called the Investment in Digital and Creative Enterprises “iDICE”. This is to position Nigeria as the next big player in the global technology and creative industries.
The iDICE program is designed to support digital and creative entrepreneurs in Nigeria, by providing them with access to affordable finance, training, and mentorship.
A program like this is significant for Nigeria’s tech and creative industries, as it will provide the necessary resources and support to foster innovation and growth in these sectors.
The investment can help startups overcome some of the challenges they face, such as access to finance, infrastructure, training, and mentorship, which have often hindered their growth and success.
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