FG, AfDB to create $500m innovation fund for tech, creative sector

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…As CBN gets set to licence payment service banks

By Peter Egwuatu & Nkiruka Nnorom

THE Vice President, Professor Yemi Osinbajo, yesterday, disclosed that the Federal Government is in talks with the African Development Bank (AfDB) to create $500 million innovation fund for technology and creative sector.

VP Osinbajo

Meanwhile, the outgoing President of African Securities Exchanges Association, ASEA, Mr. Oscar Onyema, said that strategic relationships of African exchanges have resulted in grants worth approximately USD 1.2 million from the Financial Sector Deepening (FSD) Africa and the Korea-Africa Economic Cooperation (KOAFEC) fund through the Africa Development Bank (AfDB).

He said the grants received are targeted at the African Exchanges Linkage Project (AELP), ASEA secondment programme and information portal and annual conferences.

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