As part of its effort towards reducing unemployment and increase the share of contribution from ICT into Nigeria’s GDP, Zinox Technologies has secured a $25m counterpart funding to roll out three digital hubs in Nigeria.

The fund which was made available by the European Technology Fund (http://etfpartners.capital/) is expected to help the digital hubs flag off operations by 2017 and employ over 500 unemployed youths.

Construction works for the digital hubs are already underway in Port Harcourt and Abuja and is expected to be completed in early 2017.

According to the CEO, Leo Stan Ekeh, the Nigerian economy is in dire need of an alternative to crude oil, a role which the ICT sector can play effortlessly to boost the nation’s dwindling earnings. In his words, “Nigeria has millions of young people of digital mindset with the potential to become billionaires. The reason we are confident that this is going to do Nigeria good is that this is the same way we started Yudala, a composite e-commerce outfit which received little funding from investors and within one year, has turned leading e-commerce brand in Nigeria.”

Source: http://allaboutbytes..com.ng/2016/09/zinox-secures-25m-counterpart-funding.html