Investment - In Brief

Investment

- Nigeria: The Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, has said that the federal government is committed to ensuring that the $19m (N3 billion) intervention fund which President Goodluck Jonathan promised the Nigerian film industry (Nollywood) will lead to sustainable growth for the industry. Okonjo-Iweala stressed that the fund, contrary to the impression some stakeholders have is not planned to be shared out as grants or loans to a favoured few. She said rather, the objective is to leave behind something tangible upon which the industry can leverage to grow to a new level.

- Internet entrepreneurs of iROKOtv and Nollywood fame, Jason Njoku and Bastian Gotter on Wednesday, 8 May 2013, announced the official launch of SPARK, a $1m-backed company to support and develop aspiring Nigerian tech and internet entrepreneurs.

- SatADSL, a Belgian Company providing satellite internet access and communications service in sub-Saharan Africa, announced start of in May 2013 the successful completion of a capital increase aiming at financing its development over the next five years.