The immediate past Governor of Kaduna State, Nasir El-Rufai has announced plans to launch a $100 million venture capital fund for startups in Nigeria.
The job announcement came after controversially missing out on a ministerial appointment by President Bola Tinubu.
El-Rufai was one of the persons whose names were forwarded to the National Assembly by President Tinubu for screening and confirmation as Ministers in his government.
The lawmakers, however, did not clear him due to security reasons.
Weeks after the drama, the former Governor revealed on Monday 4th December that he is set to resume as the part-time Chairman of the Board for Afri-Venture Capital Company Ltd.
El-Rufai added that the company hopes to finance, nurture, and mentor young innovators and entrepreneurs in Nigeria (and Africa).
Taking to his account on the X platform, the former Kaduna State Governor 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.”
