Itana, Africa's first digital special economic zone, has signed a historic memorandum of understanding (MOU) with Nigeria's Ministry of Industry, Trade, and Investment to promote digital trade, create jobs, and attract global technology investment.
Itana, which is supported and funded by the Africa Finance Corporation, enables businesses to establish virtual operations in Nigeria, allowing them immediate access to local talent and markets without the overheads associated with physical offices, all while benefiting from attractive business incentives.
Itana aims to become the African jurisdiction of choice for global ICT businesses looking to expand into the continent in order to capitalise on the growth prospects available in this dynamic and fast-growing region, thereby boosting foreign direct investment and creating jobs.
Dr Jumoke Oduwole, minister for industry, trade and investment, visited Itana’s home within the Alaro City Free Zone last week and signed an MOU under the National Talent Export Programme (NATEP).
NATEP is a federal initiative designed to position Nigeria as a global hub for digital services.
The MOU sees the government offer its support and resources to leverage the potential of digital free zones to create 100,000 high-value jobs over the next five years as part of NATEP.
Dr Oduwole said: “Two years into President Bola Ahmed Tinubu’s administration, Nigeria is boldly charting a reform-driven path to inclusive growth. We have marked this journey at Alaro City Free Zone, home to Itana, Nigeria’s first digital special economic zone.
“The more than $1 trillion global services market is growing fast – and Nigeria is ready to lead Africa’s charge with our youthful, English-speaking, and digitally savvy population”
The MOU, according to Itana, signals the government’s strong support for its mission to help pan-African and global technology firms operate and scale with ease across the continent, fostering innovation and driving technological advancement in Nigeria’s digital economy.
Luqman Edu, Itana’s co-founder and CEO, commented: “Africa is a continent of immense opportunities, with fast-growing economies and an increasingly large, digitally skilled young population.
"Given this, global tech firms are eager to expand into Africa’s markets and access local talent, which Itana allows them to do with unprecedented ease.
“This agreement opens the door for international tech firms to seamlessly launch operations in Nigeria, positioning the country as the preferred gateway for global companies expanding into Africa.”
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