Nigeria to launch Investment in Digital and Creative Enterprises Program (i-DICE)

The Vice President of Nigeria, Prof. Yemi Osinbajo, African Development Bank President Dr. Akinwumi Adesina and other partners will launch the Investing in Digital and Creative Enterprises (i-DICE) program in Abuja on Tuesday, 14 March 2023.

The launch marks the rollout of a major initiative that will channel significant funding to Nigeria’s digital and creative industries. The event will also feature youth, students and investors working in the digital technology and creative sectors, in addition to leaders from government, corporations and development finance institutions.

i-DICE is a major step towards significantly boosting entrepreneurship and innovation in digital technology and creative industries including film, fashion and music.

The program is part of the efforts of the Federal Government of Nigeria to build back better, greener and more inclusively and create sustainable jobs for its growing youth population. This will strengthen the country’s position as Africa’s leading start-up investment destination and youth entrepreneurship hub.

i-DICE is co-financed by the African Development Bank, the Islamic Development Bank and the Agence Française de Développement. The Federal Government of Nigeria is providing matching finance through the Bank of Industry, which also acts as the executing agency. A steering committee chaired by the Office of the Vice President will oversee the initiative with the support of business leaders, and a technical committee made up of government ministries, departments and agencies.

The DICE Fund, a venture capital organization to be created under the program, will receive additional funding from institutional and other private investors.

Click Here To learn more about the work the African Development Bank is doing with youth.

Join the conversation using the hashtag #IDICENigeria.