Nigeria - Zinox secures $25m for digital hubs


Information and Communications Technology company, Zinox Technologies, has secured a $25m counterpart funding with which it seeks to roll out a trio of digital hubs in Nigeria.

This was an aftermath of the visit of the Facebook Chief Executive Officer, Mark Zuckerberg, to Nigeria. During the visit, Zuckerberg encouraged the establishment of digital hubs that would enhance ICT skills of Nigerian youths and children.

According to Zinox, the counterpart funding is also part of efforts to generate creative employment and increase the share of contribution from the ICT sector to Nigeria’s Gross Domestic Product.

Zinox said that the digital hubs would, among other things, create employment and empower thousands of digital minded Nigerian youths in search of the right platforms to develop their skills.

“With the current improvements raising hopes of stability in public power supply by early 2017, the company plans to install the digital plants and commence production shortly,” the Chairman of Zinox, Leo Stan Ekeh, said.

Ekeh said that the Nigerian economy was in dire need of an alternative to crude oil. “And this is a role the ICT sector can play in boosting the nation’s dwindling earnings,” he said.

In the view of the Zinox boss, “Nigeria has millions of young Nigerians of digital mindset with the potential to become dollar billionaires.”
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