AFC, Itana sign deal to create $100m digital economic zone in Lagos

Oct. 3, 2024 - TheCable

The Africa Finance Corporation (AFC) says it signed a deal with Itana, Nigeria’s first licensed digital economic zone management company, to fund Africa’s first digital economic zone in Lagos. The plan to lead in financing phase 1 of the Itana project was formalised during the Global Africa Business Initiative at the 79th United Nations General Assembly (UNGA) in New York.

“AFC, the continent’s leading infrastructure solutions provider, have agreed to jointly develop the first digital economic zone in Africa designed for global and Pan-African technology, finance and service-based businesses to operate and scale with ease across Africa, unlocking the continent’s digital economy,” AFC said. Advertisement The organisation represents the private sector in the steering committee, chaired by President Bola Tinubu, for the establishment of Digital Economic Zones in Nigeria.

‘ITANA WILL BE TAILORED FOR 21ST-CENTURY DIGITAL TRADE’ AFC said the Itana digital economic zone will be a conducive environment tailored for the 21st-century digital trade and technological age...