$50m Arewa Tech Fund to Foster Economic Growth in Northern Nigeria

Mary Nnah

In a move to propel innovation and human capital development in Northern Nigeria, Arewa Tech Fest has unveiled the Arewa Tech Fund, a $50 million initiative.
Spearheaded by former Kaduna State Governor, Mallam Nasir El-Rufai, this ambitious project promises to transform the region’s economic landscape.

A press release made available to THISDAY stated that the Arewa Tech Fund will focus on financing tech-driven solutions, startups, and ventures, with the ultimate goal of driving economic growth, creating jobs, and cultivating a thriving digital ecosystem. The fund will empower young innovators, tech entrepreneurs, and SMEs to flourish in today’s digital economy by providing critical capital and resources.

According to Mallam Nasir El-Rufai, “The Arewa Tech Fund represents a significant step towards harnessing the potential of our youth and fostering a culture of innovation that will benefit Northern Nigeria and have a far-reaching impact across the nation.”

The fund will prioritise initiatives in education, healthcare, and agriculture, ensuring technological advancements directly contribute to improving the quality of life in Northern Nigeria. This will involve developing innovative solutions to improve access to quality education, leveraging technology to enhance healthcare services and outcomes, and implementing tech-driven solutions to boost agricultural productivity.

The fund’s official launch is slated for September 25th-26th, 2024, during the Arewa Tech Fest in Kano. This bold initiative aligns with the festival’s theme, “Empowering Innovation for Economic Growth,” highlighting the importance of partnerships between the private sector, government, and tech ecosystems to accelerate development in the region.

With the Arewa Tech Fund, Northern Nigeria is poised for a technological revolution, empowering the next generation of tech leaders and innovators to drive sustainable growth and improve the quality of life for all.