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CORONAVIRUS SUPPORT FUND
The capital markets have frozen up. We are hoping to create a domino effect in terms of investment in African startups.
Prior to when an Italian national brought in Nigeria’s first COVID-19 case in late February, many Nigerians perceived the contagious virus as a “white man” disease.
A major challenge to Covid-19 action in Nigeria, like most other African countries, is scarce public finance.
The Central Bank of Nigeria (CBN) has warned owners of small-scale businesses and other loan seekers not to pay any amount as application processing fee for the N50 billion Targeted Credit Facility (TCF) stimulus package.
Nigeria and other 38 African countries are set to secure the $250 million funding provided by the Global Partnership for Education (GPE).