FG initiative targets capital gap in Nigeria’s creative economy

The Federal Government of Nigeria has launched an initiative called the Investment in Digital and Creative Enterprises (iDICE) programme to address the capital gap impacting the country's creative economy. The programme, implemented by the Bank of Industry (BOI), aims to provide skills development, enterprise support, and access to finance for Nigeria's growing creative talent.

With a target capitalisation of $170.6 million, the iDICE Fund of Funds will be managed by Kuramo Capital Management, with an $85.3 million anchor commitment from the government. The programme seeks to provide creators a path from skills development to enterprise and financing, rather than treating government support as a one-off intervention.

Additionally, the BOI has rolled out an iDICE Debt Fund and an Islamic Development Bank Murabaha Debt Fund, with a combined $110 million earmarked for technology and creative-sector startups. The initiative also aims to create an intellectual-property securitisation framework to increase the financial value of creative intellectual property.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.