•Set To Fund New Startups
Former Governor of Kaduna State, Mallam Nasir el-Rufai, has announced the floating of a new firm that is aimed at funding new startups in Nigeria.
Announcing the new venture on his verified X account @elrufai on Monday, the former governor disclosed that the new firm is worth the tune of $100m share capital.
El-Rufai wrote : “MONDAY ANNOUNCEMENT: I can confirm that our VC-PE firm, Afri-Venture Capital Company Ltd will by the Grace of God, begin operations initially in Abuja in January 2024 with Jimi Lawal, Hafiz Bayero, Eyo Ekpo and Kabir Yabo as founding directors and initial shareholders. I am privileged to be the part-time Chairman of the Board.
Please pray for our success and the Nigerian (and in the near future African) innovators and entrepreneurs we hope to finance, nurture, and mentor to be the Dangote Group of the future.”
El-Rufai narrowly missed being appointed a minister by President Bola Tinubu after the 2023 general elections.
El-Rufai, who had been at the forefront of campaigns for funding new ideas in the areas of tech innovation and farming, left Nigeria in the wake of controversy surrounding his ministerial nomination by Tinubu.
The former Governor who had appeared before the senate had his nomination stepped down over alleged security concerns.
He was said to have failed clearance by the Directorate of State Security at the time.
But Analysts believe that there was more to his rejection than meet the eyes
The former two term Governor, had served as Minister of the Federal Capital Territory, Abuja.
