By May 23, 2019

Facebook’s NG_Hub Has Invested USD 400 K In Nigerian Startups

By May 23, 2019

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One year after establishing the NG_Hub in Lagos, Nigeria, the social media giant says that it has digitally trained over 50,000 small and mid-sized business, empowered more than 18,000 women and invested USD 400 K in 15 startups and students team through its Fb Start Accelerator Program.

In celebration of the first anniversary since the Zuckerberg-led firm opened a hub in Lagos, Facebook, in partnership with CcHub, met its own expectations. When plans were being made for the establishment of the NG_Hub last year, the firm that that is will train 50,000 youths in digital skills.

Per data culled from an official infographic, Facebook has trained more than 50,800 Small and Medium Businesses (SMBs) in digital skills across 20 Nigerian states.

Infographic highlighting Facebook's key milestones in one year

It has delivered 526 events and recorded more than 11,490 attendees at NG_Hub, including initiatives such as AR/VR meetups, Fb Start Accelerator Programme, Facebook Community Leaders meetings, and Developer Circle gatherings among others.

In an issued statement, the firm, who has also directly supported business in 11 different industries – agriculture, catering education, fashion, and others –  said it would continue to connect and bring together developers, startups and the wider community to collaborate, exchange ideas and learn.

Nigeria boasts not just of the most active and substantially developing tech ecosystem in Africa, but a dense population of software developers and techpreneurs, save the West African nation being Africa’s most populated place. The potential alongside that of other hotspots in the country is encouraging huge firms to invest in the continent.

Microsoft recently set aside USD 100 Mn to build hubs in Lagos and Nairobi. In a bid to help develop, and Facebook wishes to continue developing the tech community in Nigeria.

Adaora Ikenze, Head of Public Policy, West and Central Africa, said, “I’m proud of the incredible impact that NG_Hub has had in its first year, and continues to have on the lives of young Nigerians.

We remain committed to deepening our engagement, increasing skills development and supporting the next set of innovators, tech entrepreneurs, startups, in our joint bid to change the face of technology and grow the economy.”

Commenting on the partnership Bosun Tijani, Founder/CEO of CcHub, added that, “We’re glad about the tremendous impact Facebook’s investment in NG_HUB has had in such a short period, and the ecosystem is already seeing the fruits of this commitment.

We’re committed to working with Facebook to position NG_HUB as a major platform that drives the smart application of technology innovation for economic prosperity across the region and beyond.”

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