{"status":"success","status_code":200,"message":"Data Successful.","results":{"id":32337,"date":"2023-03-18T12:25:55","date_gmt":"2023-03-18T08:25:55","guid":{"rendered":"https:\/\/english.lematinal.media\/?p=32337"},"modified":"2023-03-18T12:25:55","modified_gmt":"2023-03-18T08:25:55","slug":"nigeria-to-assist-young-entrepreneurs-with-618-million-fund","status":"publish","type":"post","link":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/","title":{"rendered":"Nigeria To Assist Young Entrepreneurs With $618 Million Fund"},"content":{"rendered":"

Nigeria unveiled a $618 million fund to start-ups and small and medium enterprises on 14th March. The $618 million Investment in Digital and Creative Enterprises (iDICE) fund was officially inaugurated by Vice President Yemi Osinbajo in Abuja, the nation’s capital, according to a statement from the presidency.<\/span><\/p>\n

The $618 million project will provide non-financial services to about 450 digital technology, small and medium enterprises and draw direct investments in over 200 technology and creative start-ups. iDICE is anticipated to add 6 million new employment for young Nigerians and have the potential to bring in $6.4 billion to the country’s economy.<\/span><\/p>\n

The fund, which caters to individuals between the ages of 15 and 35, arrives at a time when locals are worried about the collapse of US startup-focused lender SVB Financial Group, which supported startups in Nigeria.<\/span><\/p>\n

Only one cross-border payments company, Chipper Cash, has so far claimed to have $1 million in SVB. Some of the biggest startups, including the e-commerce company Jumia and the fintech company Flutterwave with an emphasis on Africa, told British news agency Reuters they had no contact with the bank.<\/span><\/p>\n

According to the administration, the African Development Bank will contribute $170 million, Agence Fran\u00e7aise de D\u00e9veloppement will contribute $116 million, and the Islamic Development Bank will contribute another $70 million.<\/span><\/p>\n

The Bank of Industry Nigeria, on behalf of the government, will give $45 million and the private sector committed $217 million.<\/span><\/p>\n

At the fund’s launch, Osinbajo said, “iDICE is a government initiative to promote innovation and entrepreneurship in the digital tech and creative industries and especially targeted at job creation.”<\/span><\/p>\n

The majority of the tech and fintech startups in Nigeria, which has the most in Africa, have received financing from foreign banks and venture capital firms.<\/span><\/p>\n

But the majority of startups still have trouble getting financing because banks require collateral, which they do not have.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Nigeria unveiled a $618 million fund to start-ups and small and medium enterprises on 14th March. The $618 million Investment in Digital and Creative Enterprises (iDICE) fund was officially inaugurated by Vice President Yemi Osinbajo in Abuja, the nation’s capital, according to a statement from the presidency. The $618 million project will provide non-financial services […]<\/p>\n","protected":false},"author":13,"featured_media":32338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[157],"tags":[10490,508,3826,8276,19779,19780,1910,19781,19778],"class_list":{"0":"post-32337","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world","8":"tag-abuja","9":"tag-africa","10":"tag-african-development-bank","11":"tag-flutterwave","12":"tag-idice","13":"tag-jumia","14":"tag-nigeria","15":"tag-nigeria-vice-president-yemi-osinbajo","16":"tag-venture-capital-firms"},"acf":[],"yoast_head":"\nNigeria To Assist Young Entrepreneurs With $618 Million Fund<\/title>\n<meta name=\"description\" content=\"Nigeria unveiled a $618 million fund to start-ups and small and medium enterprises on 14th March, inaugurated by Vice President Yemi Osinbajo\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria To Assist Young Entrepreneurs With $618 Million Fund\" \/>\n<meta property=\"og:description\" content=\"Nigeria unveiled a $618 million fund to start-ups and small and medium enterprises on 14th March, inaugurated by Vice President Yemi Osinbajo\" \/>\n<meta property=\"og:url\" content=\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"Le Matinal\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-18T08:25:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/english.lematinal.media\/wp-content\/uploads\/2023\/03\/Vice-President-Yemi-Osinbajo-in-Abuja-at-the-inauguration-of-Investment-in-Digital-and-Creative-Enterprises.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vaishali Shastri\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Vaishali Shastri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/\",\"url\":\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/\",\"name\":\"Nigeria To Assist Young Entrepreneurs With $618 Million Fund\",\"isPartOf\":{\"@id\":\"https:\/\/english.lematinal.media\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/english.lematinal.media\/wp-content\/uploads\/2023\/03\/Vice-President-Yemi-Osinbajo-in-Abuja-at-the-inauguration-of-Investment-in-Digital-and-Creative-Enterprises.jpg?fit=1000%2C700&ssl=1\",\"datePublished\":\"2023-03-18T08:25:55+00:00\",\"dateModified\":\"2023-03-18T08:25:55+00:00\",\"author\":{\"@id\":\"https:\/\/english.lematinal.media\/#\/schema\/person\/7d1042ef7e76ea36a7510efe9d722989\"},\"description\":\"Nigeria unveiled a $618 million fund to start-ups and small and medium enterprises on 14th March, inaugurated by Vice President Yemi Osinbajo\",\"breadcrumb\":{\"@id\":\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/english.lematinal.media\/wp-content\/uploads\/2023\/03\/Vice-President-Yemi-Osinbajo-in-Abuja-at-the-inauguration-of-Investment-in-Digital-and-Creative-Enterprises.jpg?fit=1000%2C700&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/english.lematinal.media\/wp-content\/uploads\/2023\/03\/Vice-President-Yemi-Osinbajo-in-Abuja-at-the-inauguration-of-Investment-in-Digital-and-Creative-Enterprises.jpg?fit=1000%2C700&ssl=1\",\"width\":1000,\"height\":700,\"caption\":\"Vice President Yemi Osinbajo in Abuja at the inauguration of Investment in Digital and Creative Enterprises\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/english.lematinal.media\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nigeria To Assist Young Entrepreneurs With $618 Million Fund\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/english.lematinal.media\/#website\",\"url\":\"https:\/\/english.lematinal.media\/\",\"name\":\"Le Matinal\",\"description\":\"Mauritius' Digital English News Channel\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/english.lematinal.media\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/english.lematinal.media\/#\/schema\/person\/7d1042ef7e76ea36a7510efe9d722989\",\"name\":\"Vaishali Shastri\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/english.lematinal.media\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9eec88ca8c7d021dd8433fd08b7f7217?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9eec88ca8c7d021dd8433fd08b7f7217?s=96&d=mm&r=g\",\"caption\":\"Vaishali Shastri\"},\"url\":\"https:\/\/english.lematinal.media\/author\/vaishali\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nigeria To Assist Young Entrepreneurs With $618 Million Fund","description":"Nigeria unveiled a $618 million fund to start-ups and small and medium enterprises on 14th March, inaugurated by Vice President Yemi Osinbajo","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/","og_locale":"en_US","og_type":"article","og_title":"Nigeria To Assist Young Entrepreneurs With $618 Million Fund","og_description":"Nigeria unveiled a $618 million fund to start-ups and small and medium enterprises on 14th March, inaugurated by Vice President Yemi Osinbajo","og_url":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/","og_site_name":"Le Matinal","article_published_time":"2023-03-18T08:25:55+00:00","og_image":[{"width":1000,"height":700,"url":"https:\/\/english.lematinal.media\/wp-content\/uploads\/2023\/03\/Vice-President-Yemi-Osinbajo-in-Abuja-at-the-inauguration-of-Investment-in-Digital-and-Creative-Enterprises.jpg","type":"image\/jpeg"}],"author":"Vaishali Shastri","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Vaishali Shastri","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/","url":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/","name":"Nigeria To Assist Young Entrepreneurs With $618 Million Fund","isPartOf":{"@id":"https:\/\/english.lematinal.media\/#website"},"primaryImageOfPage":{"@id":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#primaryimage"},"image":{"@id":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/english.lematinal.media\/wp-content\/uploads\/2023\/03\/Vice-President-Yemi-Osinbajo-in-Abuja-at-the-inauguration-of-Investment-in-Digital-and-Creative-Enterprises.jpg?fit=1000%2C700&ssl=1","datePublished":"2023-03-18T08:25:55+00:00","dateModified":"2023-03-18T08:25:55+00:00","author":{"@id":"https:\/\/english.lematinal.media\/#\/schema\/person\/7d1042ef7e76ea36a7510efe9d722989"},"description":"Nigeria unveiled a $618 million fund to start-ups and small and medium enterprises on 14th March, inaugurated by Vice President Yemi Osinbajo","breadcrumb":{"@id":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#primaryimage","url":"https:\/\/i0.wp.com\/english.lematinal.media\/wp-content\/uploads\/2023\/03\/Vice-President-Yemi-Osinbajo-in-Abuja-at-the-inauguration-of-Investment-in-Digital-and-Creative-Enterprises.jpg?fit=1000%2C700&ssl=1","contentUrl":"https:\/\/i0.wp.com\/english.lematinal.media\/wp-content\/uploads\/2023\/03\/Vice-President-Yemi-Osinbajo-in-Abuja-at-the-inauguration-of-Investment-in-Digital-and-Creative-Enterprises.jpg?fit=1000%2C700&ssl=1","width":1000,"height":700,"caption":"Vice President Yemi Osinbajo in Abuja at the inauguration of Investment in Digital and Creative Enterprises"},{"@type":"BreadcrumbList","@id":"https:\/\/english.lematinal.media\/nigeria-to-assist-young-entrepreneurs-with-618-million-fund\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/english.lematinal.media\/"},{"@type":"ListItem","position":2,"name":"Nigeria To Assist Young Entrepreneurs With $618 Million Fund"}]},{"@type":"WebSite","@id":"https:\/\/english.lematinal.media\/#website","url":"https:\/\/english.lematinal.media\/","name":"Le Matinal","description":"Mauritius' Digital English News Channel","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/english.lematinal.media\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/english.lematinal.media\/#\/schema\/person\/7d1042ef7e76ea36a7510efe9d722989","name":"Vaishali Shastri","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/english.lematinal.media\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9eec88ca8c7d021dd8433fd08b7f7217?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9eec88ca8c7d021dd8433fd08b7f7217?s=96&d=mm&r=g","caption":"Vaishali Shastri"},"url":"https:\/\/english.lematinal.media\/author\/vaishali\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/english.lematinal.media\/wp-content\/uploads\/2023\/03\/Vice-President-Yemi-Osinbajo-in-Abuja-at-the-inauguration-of-Investment-in-Digital-and-Creative-Enterprises.jpg?fit=1000%2C700&ssl=1","_links":{"self":[{"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/posts\/32337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/comments?post=32337"}],"version-history":[{"count":1,"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/posts\/32337\/revisions"}],"predecessor-version":[{"id":32339,"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/posts\/32337\/revisions\/32339"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/media\/32338"}],"wp:attachment":[{"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/media?parent=32337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/categories?post=32337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.lematinal.media\/wp-json\/wp\/v2\/tags?post=32337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}}