SEDC Launches $50M Capital Mobilization Program

The South East Development Commission (SEDC) has initiated a $50 million capital mobilization program designed to improve access to funding for startups and stimulate sustainable investments in high-growth sectors within South East Nigeria. This initiative is part of a broader development strategy outlined in a roadmap presented to the House of Representatives.

The program aims to expand access to local funding and attract investments by leveraging a blend of financial vehicles, including public institutions, diaspora contributions, and private capital. The SEDC will coordinate the program, which includes a pitch competition for startups, and is structured to ensure professional fund management that aligns with global investment standards.

The first phase of the program is set to catalyze the region's digital innovation technology ecosystem, with a focus on time-bound interventions to support local enterprises.