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    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

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    Africa must fight ‘strongman’ backslide, billionaire Ibrahim says

    Trending Tags

  • Business
    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

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    Africa startups defy funding slump as debt financing fuels growth

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    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

    African mobile game publisher Carry1st raises $27M in funding round led by Bitkraft Ventures

    African mobile game publisher Carry1st raises $27M in funding round led by Bitkraft Ventures

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    The global online music streaming market to reach $29 billion by 2027, report

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    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    Angola banks entry into local Bourse gives credibility to economy

    Angola banks entry into local Bourse gives credibility to economy

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    Businesses in Nigeria are set to face an upset as interest rate goes up

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President Buhari signs Nigeria Startup Bill into law

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20/10/2022
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President Buhari signs Nigeria Startup Bill into law

Nigeria has become the latest country to pass a Startup Bill, giving a more formal approach to how the startup ecosystem is governed.

Related posts

Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

28/01/2023
1
Ethiopia and the World Bank sign financing agreements worth $745 million

Ethiopia and the World Bank sign financing agreements worth $745 million

28/01/2023
1

The Bill which has been in the making since May was accented to by President Muhammadu Buhari earlier this week, and the news was made public via Twitter by the country’s Minister for Communications and Digital Economy Isa Pantami.

Now known as the Nigeria Startup Act, the law will be an important anchor in the country’s technology developments while creating a thriving sector.

The new law introduces the Council for Digital Innovation and Entrepreneurship which will be the main custodian and will oversee its implementation. The Council comprises of the president, the governor of Nigeria’s Central Bank, representatives of the Startup Consultative Forum, the Director-General of Nigeria’s information and technology regulator and other key government and private officials. They will be responsible for policy guidelines and ensuring that the bill meets its objectives.

The Key bill identifies three main challenges that it will help Nigerian startups to tackle namely; lack of an enabling environment, unclear regulatory framework and inadequate local content support. It will also help to push for protection and incentives, like tax breaks, incentives to attract foreign capital and access to an exclusive list of public and private-led local funding opportunities.

Nigeria now joins a few other African countries which include Tunisia, Kenya, Senegal and Ethiopia that have undertaken similar initiatives.

President Buhari signs Nigeria Startup Bill into law

Source: African Business Communities
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