Africa Finance Corporation Partners with Itana to Launch Africa's First Digital Economic Zone

Africa Finance Corporation (AFC) has announced a partnership with Itana to develop Africa’s inaugural digital economic zone, with an initial funding of around $100 million. This landmark project, hosted in Lagos, Nigeria, aims to facilitate seamless business operations and scaling for global and Pan-African technology, finance, and service-based enterprises. The collaboration was formalized at the Global Africa Business Initiative during the United Nations General Assembly in New York.

The Itana Digital Economic Zone will allow companies to incorporate and operate businesses remotely within Nigeria, benefiting from optimized laws, business incentives, and services tailored to the digital economy. The project includes an eco-friendly tech campus and an accelerator program to support startups. Partners include Future Africa, PwC Nigeria, and Charter Cities Institute.

This initiative, modeled after global tech hubs like Silicon Valley, aims to position Nigeria as a cornerstone in the global digital economy while providing competitive business environments and incentives.