The Nigerian Exchange Group (NGX Group) has secured significant funding to launch the N-Zero Programme, a groundbreaking initiative aimed at fostering innovation and entrepreneurship within Nigeria’s capital market ecosystem. This funding, sourced from the African Development Bank (AfDB) through the Capital Market Development Trust Fund (CMDTF), marks a strategic move by the NGX Group to drive inclusive growth and economic transformation across the country.
The N-Zero Programme is designed to accelerate early-stage startups and innovative small businesses by providing them with the necessary support infrastructure to scale. This includes access to capital, mentorship, business development services, and a conducive environment for innovation. NGX Group plans to achieve this through partnerships with key players in the innovation and capital market space, aiming to bridge the gap between startups and investment opportunities.
A core focus of the N-Zero Programme is to support startups that align with the United Nations Sustainable Development Goals (SDGs), particularly those in sectors such as fintech, agritech, healthtech, cleantech, and education technology. The programme intends to promote financial inclusion, youth empowerment, and sustainable economic development, which are key national priorities in Nigeria.
The funding from AfDB’s CMDTF is particularly significant as it signals increased investor confidence in Nigeria’s startup ecosystem. It also aligns with AfDB’s broader mission of strengthening financial markets and promoting private sector-led development across Africa. By supporting NGX Group’s initiative, AfDB aims to unlock new investment channels and encourage sustainable enterprise development in Nigeria.
NGX Group’s Chief Executive Officer, Temi Popoola, expressed optimism about the programme’s potential, emphasizing that it represents a critical step toward democratizing access to capital markets for young innovators. He highlighted the N-Zero Programme as a vehicle for discovering and nurturing future unicorns within Nigeria and across Africa.
The launch of the N-Zero Programme with funding from AfDB marks a pivotal development for Nigeria’s innovation ecosystem. It reflects a growing commitment to supporting startups, enhancing capital formation, and positioning Nigeria as a leading hub for innovation-driven entrepreneurship. Through this initiative, NGX Group seeks to transform the narrative around youth-led startups by enabling them to access structured funding, resources, and networks that can drive long-term growth and impact.
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