Abuja- new push by the EIB, AfDB and EU aims to give Nigerian startups the capital, expertise and networks to compete globally.
The European Investment Bank (EIB), working with the African Development Bank (AfDB) and with support from the European Union (EU), is helping Nigerian entrepreneurs grow their businesses beyond the domestic market through an initiative called Boost Africa.
The programme backs venture capital investment and provides technical assistance, helping promising businesses turn innovative ideas into sustainable enterprises.
Boost Africa targets some of the biggest obstacles facing African businesses: limited access to capital, investment expertise and the networks needed to scale and compete internationally.
For many Nigerian entrepreneurs, a viable idea is only the first step. Financing, professional guidance, strategic partnerships and access to international markets often decide whether a business outgrows its early stage.
The initiative combines development finance with investment expertise, so businesses can attract funding while drawing on the knowledge and networks of investors.
It also aims to increase financing for innovative firms that can drive economic growth, job creation and technological advancement.
Technical assistance is a key part of the package. It helps businesses manage growth, improve operations, build competitive models and identify opportunities in new markets.
One company reflecting the initiative’s ambitions is Daya, a Nigerian firm working to connect African businesses to global markets.
Its co-founders, Tomiwa “Aleph” Lasebikan and Paul Joe, shared the company’s journey and goals, including its aim of addressing the barriers that limit African enterprises’ participation in international trade.
Nigerian entrepreneurs are exploring opportunities in technology, financial services, trade and other sectors. Better access to investment and business support could speed up the growth of emerging enterprises.
The broader goal is to ensure promising local ideas are not held back by limited financing or expertise, but grow into competitive businesses able to operate across borders.
