Itana, a startup that aims to become Africa’s inaugural digital free zone, has secured $2 million in pre-seed funding led by global venture capitalists LocalGlobe, Amplo, Pronomos Capital, and Future Africa.

The funding will be used to support Itana’s initiatives to enhance Nigeria’s business-friendly environment, attract foreign direct investment (FDI), and stimulate job creation within Nigeria.

Itana will establish a virtual jurisdiction, akin to those found in Delaware (U.S.), E-Estonia (Europe), or Dubai (Asia). This virtual city will enable global companies to incorporate and operate in a Nigerian Free Zone without requiring a physical presence.

The Itana community will also enjoy privileges within the upcoming flagship campus, known as the “Itana District,” spanning an impressive 72,000 square meters. This eco-conscious district is situated within Alaro City, located just outside of Lagos, Nigeria, within the Lekki Free Zone.

With Africa boasting a youthful and rapidly expanding population, the continent offers ample opportunities for software developers and foreign direct investments. Itana is well-positioned to capitalize on this opportunity and become a major player in the African tech ecosystem.

Here are some of the key benefits of Itana’s digital free zone:

  • A stable policy environment
  • Enticing tax incentives
  • The flexibility to conduct operations remotely
  • A vibrant community of tech innovators and entrepreneurs
  • A state-of-the-art infrastructure

Itana is poised to make a significant impact on Africa’s economy and the global tech ecosystem. The company’s mission to foster a culture that nurtures the “builders of tomorrow” is inspiring, and I am confident that Itana will play a major role in shaping the future of Africa.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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