Former Kaduna State Governor, Nasir El-Rufai, made a significant announcement on Monday, revealing that his venture capital/private equity firm, Afri-Venture Capital Company Limited, is set to commence operations in 2024. El-Rufai shared this development in a post on an unspecified platform.informationguidenigeria
Through this new venture, he expressed his intention to provide funding, guidance, and mentorship to aspiring Nigerian innovators and entrepreneurs, with the ambitious goal of fostering the growth of businesses that could potentially become the next Dangote Group – a prominent conglomerate in Nigeria.
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El-Rufai outlined his plan to launch a substantial $100 million venture capital fund, primarily targeting startups within Nigeria, particularly those situated within the thriving tech ecosystem of Kaduna. To accomplish this initiative, he intends to collaborate with various private sector partners, including Eyo Ekpo, the co-founder of Excredite Consulting Limited, among others.JAMB Portal
“I can confirm that our VC-PE firm, Afri-Venture Capital Company Ltd will by the Grace of God, begin operations initially in Abuja in January 2024 with Jimi Lawal, Hafiz Bayero, Eyo Ekpo and Kabir Yabo as founding directors and initial shareholders. I am privileged to be the part-time Chairman of the Board.NYSC Portal
“Please, pray for our success and the Nigerian (and in the near future African) innovators and entrepreneurs we hope to finance, nurture, and mentor to be the Dangote Group of the future,” the former governor wrote on X.
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