Itana, a pioneering technology company, and the Africa Finance Corporation (AFC) have entered into a strategic partnership to jointly develop Africa’s first dedicated digital economic zone. This landmark initiative aims to foster innovation and drive economic growth across the continent.
The partnership, announced at the recent Global Africa Business Initiative (GABI), will see AFC provide crucial financial support for the first phase of the Itana project, valued at $100 million. This collaboration builds upon existing synergies, as AFC already works closely with Itana, Future Africa, PwC Nigeria, and the Charter Cities Institute to support the Nigerian government’s initiative for the promotion of Digital Economic Zones (DiFZIN).
Recognizing the immense potential of Africa’s burgeoning digital economy, Itana is developing a cutting-edge digital economic zone in Lagos, Nigeria. This innovative hub will serve as a catalyst for tech, finance, and service-based businesses seeking to expand their operations across the African continent.
Inspired by successful models like Silicon Valley and Dubai’s DIFC, Itana aims to create a business-friendly environment that attracts global and local businesses. By offering significant regulatory advantages, including tax exemptions, simplified business registration, and flexible labor laws, Itana seeks to position itself as the preferred gateway for businesses operating across Africa.
This partnership marks a significant milestone in Africa’s digital transformation journey. By fostering innovation, driving economic growth, and creating new opportunities for businesses and individuals, Itana and AFC are poised to play a pivotal role in shaping the future of the African economy.
