Good news for tech startups in Nigeria. As per CSR Africa:

IFC [International Finance Corporation] , a member of the World Bank Group, announced an investment of $10 million in private equity fund Adlevo Capital Africa to help smaller, innovative companies in Nigeria’s information and communications technology sector access the funding they need to expand and contribute to a more dynamic economy.

Adlevo Capital Africa was established to make equity and equity-linked investments in technology-based infrastructure and service companies, especially those based in Nigeria or South Africa…

IFC’s investment will help entrepreneurs in Africa’s growing but under-funded technology sector access equity capital, industry expertise and qualified management…

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