Thursday, 1 September 2016

Zinox Technologies secures $25million to roll out digital hubs in Nigeria

Leading ICT company, Zinox Technologies, has secured $25 million counterpart funding to roll out a trio of digital hubs in Nigeria. The funding is a “Technology Research and Innovation loan from the European Technology Trust Fund.”

The digital hubs will, among other things, create employment and empower thousands of digitally-minded Nigerian youths in search of the right platforms to develop their skills.
Leo Stan Ekeh
Out of the three hubs, one is located in Abuja while a second is located in Port-harcourt. Thew two will become active in 2017.

According to Leo Stan Ekeh, chairman of Zinox Group in a tour with officials of NITDA who visited the company’s HQ in Gbagada, “the Nigerian economy is in dire need of an alternative to crude oil – a role which the ICT sector can effortlessly play in boosting the nation’s dwindling earnings. In the view of the Zinox boss, Nigeria has millions of young Nigerians of digital mindset with the potential to become dollar billionaires.”

He made reference to the case of Nigerian start-up and pioneer composite e-commerce outfit Yudala which received little funding from investors and within one year is a leading e-commerce brand in Nigeria employing over 400 graduates. He disclosed that their strength is not cash but knowledge of the business backed with strong front and back-end technologies. Ekeh affirmed that thousands of such brilliant kids exist in the country, even as he urged the government to partner with technologically-minded companies in unearthing such raw digital diamonds in the country.

“With the digital hubs, we are looking to generate creative employment for our youth while creating the much-needed enabling environment and platform for more of these youths to develop their capacities and unleash their creative abilities. This is part of our contribution towards reducing the scourge of unemployment and boosting the revenue-earning streams of the government. We are the last company in the country that will retrench quality Nigerian staff. In fact, our investment in digital hubs will provide jobs for 500 Nigerians, with more expected to benefit from other investments set to commence once the economy stabilizes,” he enthused.

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