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Federal Government of Nigeria & Digital Free Zones in Nigeria (DiFZIN) inaugurate committee for the Establishment of Digital Free Zone for Technology and Global Service Businesses

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2 years ago

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DiFZIN

Digital Free Zones foster innovation and economic expansion by leveraging cutting-edge digital technologies such as AI and Edge Computing, and a supportive regulatory environment

Our goal is to create a conducive environment for global technology and services-based businesses to thrive, facilitating remote operations and banking from Nigeria for Africa

LAGOS, Nigeria, August 9, 2024/APO Group/ —

In a bid to drive the ease of doing business for global digital, finance, knowledge- and services-oriented enterprises in Nigeria, the Federal Government of Nigeria established a steering committee chaired by President Bola Ahmed Tinubu GCFR to drive the promotion and establishment of a digital free zone in Nigeria to accommodate the peculiar needs of innovative digital trade and service businesses.

This steering committee is chaired by His Excellency Mr President, supported by the Honourable Minister of Finance and the Coordinating Minister of the Economy (“HMF/CME”) as Vice Chairman. Other members are the Honourable Attorney General of the Federation and Minister of Justice; the Honourable Ministers of Industry, Trade and Investment; Communications, Innovation and Digital Economy; and Interior; the heads of relevant Government Agencies and Committees; and the Initiative for the Promotion of Digital Free Zones in Nigeria (DiFZIN) as the private-sector stakeholders’ representative and technical advisers. DiFZIN is a non-profit advocacy and policy research organisation supported by a consortium of private sector development-focused and advisory institutions including Africa Finance Corporation, PwC Nigeria, Charter Cities Institute, Future Africa, and Itana. The mission of the organisation is to see Nigeria’s free zones ecosystem fulfil its full potential as Africa’s major hub for global technology and service businesses.

This Committee will work collaboratively with relevant agencies of government and private stakeholders to review and align Nigeria’s free zone policies, technology and processes with global standards, then develop and publish policy and operational frameworks to enable qualified global and local technology and service businesses to establish Pan-African or global operations from Nigeria. Businesses that take advantage of the zone will benefit from competitive business incentives provided by modernized free zones regulations, including tax, immigration and banking incentives, simplified government compliance processes, clear and predictable business regulation and an enabling business environment.

As part of the Federal Government’s strategic growth objectives, it aims to boost foreign direct investment, create employment opportunities, and facilitate the capital flow into Nigeria’s economy, through an innovative and future-oriented approach to the free zones ecosystem.

The HMF/CME stated that “the pivotal role of free zones to catalysing and sustaining economic growth in an emerging market such as Nigeria cannot be overemphasised. Its implementation in this digital age must not only encompass manufacturing undertakings but also integrate the central role of technology-focused businesses in attracting investments and making available to the global markets, our domestic talents under a liberal regulatory framework. These and more are what the Government aims to deliver through the digital free zones.”

Dr. Olufemi Ogunyemi, MD/CEO of NEPZA (Nigeria Export Processing Zones Authority), emphasized the Authority’s commitment to digital transformation. He highlighted the e-NEPZA platform, which will streamline government services and comply with the Federal Government’s ease of doing business policy.

Dr Ogunyemi also noted the importance of data privacy, with data stored locally in local servers as well as the ability of small businesses to access global markets, addressing the need for digital infrastructure like fibre optics. “We look forward to partnering with DiFZIN to advance our digital processes,” he stated. NEPZA’s support for Digital Free Zones signals a move towards a digitally driven economy, unlocking new opportunities for small and medium-scale enterprises as well as large corporations in Nigeria.

Mr. Luqman Edu (Executive Director of DiFZIN and CEO of Itana) and the DiFZIN consortium, aim to support the Federal Government in positioning Nigeria as a hub for regional expansion across Africa. These efforts are designed to contribute to the growth of Nigeria’s GDP, government revenue, capital importation, and foreign exchange availability, while simultaneously generating employment opportunities for the burgeoning Nigerian youth population.

“DiFZIN is committed to driving the agenda for reforms to the regulatory frameworks for taxation, banking, immigration, and ease of doing business, among others, within the free zones ecosystem,” said Mr Edu. “Our goal is to create a conducive environment for global technology and services-based businesses to thrive, facilitating remote operations and banking from Nigeria for Africa, thereby positioning Nigeria as a hub for Africa, akin to what Delaware is for the US, and Dubai is for Asia.”

Speaking on the partnership with DiFZIN, Banji Fehintola, Head of Financial Services at AFC said “AFC’s advisory team is uniquely skilled in providing tailored financial and technical advice to public and private sector players across Africa. We look forward to collaborating with DiFZIN and all other partners to modernize Nigeria’s free trade zones, attract much-needed investment, create local jobs, and boost trade and commerce in Nigeria and Africa.”

Digital Free Zones foster innovation and economic expansion by leveraging cutting-edge digital technologies such as AI and Edge Computing, and a supportive regulatory environment. These ecosystems serve as incubators for innovation, providing a platform for businesses to drive growth and competitiveness. The supportive regulatory framework also ensures a conducive environment for experimentation, collaboration, and the seamless integration of emerging technologies into everyday business operations.

For more information about DiFZIN and its initiatives, please visit www.DiFZIN.org or contact hello@difzin.org.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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2 days ago

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February 6, 2026

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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2 days ago

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February 6, 2026

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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