In a bold move to support and empower the youth of Nigeria, former Kaduna State Governor Nasir El-Rufai has announced the launch of Afri-Venture Capital Company Limited.
This development follows El-Rufai’s replacement as a minister by Abbas Balarabe after his nomination faced rejection by the Senate.
El-Rufai, speaking passionately about his vision during the Africa Investment Forum in Marrakech, Morocco, stressed the crucial need for mentoring and financial support for Nigerian youths to achieve breakthroughs in various fields.
The former governor outlined the challenges faced by young innovators, including limited access to influential figures such as ministers, presidents, and regulatory agencies.
“What young people need is essentially mentoring and financing to get things going. They develop the idea and see whether it is viable. And we will open doors for them because they don’t have contact,” El-Rufai emphasized.
Related News: https://savingpointmedia.com/tinubu-commits-to-end-gas-flaring-pledges-action-against-methane-emissions/
The Afri-Venture Capital initiative aims to bridge this gap by providing startup funding and invaluable mentorship.
El-Rufai envisions developing the next generation of entrepreneurs without seeking control over their businesses. Instead, the venture will take an equity position in return for the risk taken.
El-Rufai expressed his commitment by pledging $2 million of his own funds for the initial phase of the venture.
To secure the remaining funding, he plans to collaborate with investors who share the belief in the transformative potential of Afri-Venture Capital.
El-Rufai is confident that these investors, who may lack the capacity or time for in-depth analysis, will rely on his judgment and support the initiative.
As Nigeria seeks to foster innovation and entrepreneurial spirit, Afri-Venture Capital emerges as a promising venture that not only provides financial support but also opens doors to essential networks, ultimately nurturing the future leaders of the country.
You can also read: https://savingpointmedia.com/sierra-leone-president-commends-outgoing-nigerian-high-commissioner/