African governments are increasingly recognizing the importance of the creative economy in generating business opportunities. To this end, the African Development Bank (AfDB), the French Development Agency (AFD) and the Islamic Development Bank (IDB) have invested $618 million in the Digital and Creative Enterprises Program (i-DICE) in Nigeria.

The emergence of digital technologies in Africa is proving its importance to governments. Indeed, on Thursday, September 22, at the Nigeria International Economic Partnership Forum in New York, AfDB President Akinwumi Adesina said the funding will support the creation of 225 creative start-ups and 451 digital technology small and medium enterprises (SMEs).

Thus, this program aims to offset the economic slowdown due to the Covid-19 pandemic by expanding the financial and technology sectors in Nigeria.