LocalGlobe and Pronomos Capital back Itana to pave the way for Africa’s first digital free zone
- Iyinoluwa Aboyeji discussed Talent City, now known as Itana, a moonshot project aimed at creating a digital free zone in Nigeria to support startups and service businesses.
- Itana has raised $2 million in pre-seed funding and plans to establish a virtual city in existing free zones while waiting for the completion of its physical charter city.
- Itana aims to improve Nigeria's ease-of-doing-business index, attract foreign direct investment, and catalyze employment in the country.
The concept of Itana, a digital free zone in Nigeria, has the potential to address the challenges faced by startups and service businesses in the country. With the support of government participation and venture capital backing, Itana could become a catalyst for economic growth, attracting foreign investment and creating employment opportunities. However, the scalability of Itana as a venture-backed business remains uncertain.
