Zinox Secures N7.88billion To Roll Out Digital Hubs

Homegrown information communication technology, ICT, firm, Zinox Technologies, has secured $25million (about N7.88billion) counterpart funding to enable the firm roll out three digital hubs across the country.

The fund will be used to build three ultra-modern digital hubs across the country to promote the development of a digital economy and complement Federal Government’s efforts to increase ICT sector contributions to gross domestic product (GDP) and job creation, the Nation reports.

The digital hubs, one of which is already being constructed in Port Harcourt, the Rivers State capital will, among other things, create employment and empower thousands of digital-minded youths in search of the right platforms to develop their skills. Same with the one located in Abuja which is nearing completion and all things being equal, will become active early next year. With the current improvements raising hopes of stability in public power supply next year, Zinox plans to install the digital plants and commence production shortly.

The Chairman, Zinox Group, Leo Stan Ekeh, in a text message, explained that the funding is a “Technology Research and Innovation loan from the European Technology Trust Fund.”

Ekeh, who spoke at the weekend in Lagos when Acting Director-General, Dr National Information Technology Development Agency (NITDA), Dr. Vincent Olatunji, as well as other executives of the agency paid an official working visit to Zinox Headquarters in Gbagada, said the economy is in dire need of an alternative to crude oil, stressing that the ICT sector can effortlessly play that role by boosting the nation’s dwindling earnings.

He said there are millions of digital-minded Nigerians who have the potential to become billionaires, adding that what is required is the platform for self-actualisation.

He cited the start-up and pioneer composite e-commerce outfit, Yudala, which received little funding from investors and within one year is a leading e-commerce brand in the country with 400 graduates as employees.

Ekeh said the strength of the firm was not necessarily cash backing, but the knowledge of the business backed with strong front and back-end technologies.

He affirmed that thousands of such brilliant kids exist in the country, even as he urged the government to partner with technologically-minded companies in unearthing such raw digital diamonds in the country.