Manny Ita –
The Nigeria Sovereign Investment Authority (NSIA) and the Japan International Cooperation Agency (JICA) have formalized a partnership to launch a $50 million Impact Innovation Fund, aimed at fostering innovation and supporting early-stage tech start-ups in Nigeria.
Under the agreement signed today, the fund will provide critical equity financing, mentorship, and strategic guidance to promising tech ventures, helping them scale operations, develop innovative solutions, and attract further investment. The initiative is part of broader efforts to strengthen Nigeria’s technology ecosystem and create high-impact jobs in the country.
NSIA officials highlighted that the fund targets start-ups with high growth potential and transformative ideas in sectors such as fintech, healthtech, agritech, and renewable energy. “This partnership with JICA demonstrates our commitment to nurturing homegrown innovation and positioning Nigeria as a hub for technology-driven solutions in Africa,” a spokesperson said.
JICA representatives emphasized that the fund aligns with Japan’s mission to support sustainable development and economic growth in Africa, noting that strategic funding and capacity building are key to unlocking the continent’s entrepreneurial potential.
Start-ups selected for the fund will have access not only to capital but also to technical expertise, international networks, and operational support designed to accelerate growth and long-term sustainability.
This collaboration marks one of the largest early-stage venture initiatives in Nigeria, signaling increased confidence in the country’s start-up ecosystem and its potential to drive economic transformation.
