Nigeria and Japan have unveiled a venture capital initiative aimed at fostering high-growth startups through Naira-denominated investments.
The initiative, which shields startups from currency risks and offers access to long-term concessional financing, represents a strategic collaboration between the two nations.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, hosted officials from the Nigeria Sovereign Investment Authority (NSIA) and the Japan International Cooperation Agency (JICA) in Abuja to finalize the framework for the initiative.
Formal approval from the Japanese government has now paved the way for its implementation.
According to a statement from the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga, the fund is designed to protect investments from foreign exchange volatility while creating pathways for long-term financing, particularly in Nigeria’s startup ecosystem.
“In a major boost to youth entrepreneurship, Nigeria and Japan have launched a strategic venture capital initiative that will channel Naira-denominated investments into high-growth startups, shielding them from currency risks while unlocking access to long-term concessional financing,” the statement noted.
