Business

BOI names Kuramo Capital Fund Manager for $170.6m iDICE

The iDICE Programme is jointly financed by the African Development Bank, Agence Française de Développement and Islamic Development Bank.

Published

4 months ago

July 1, 2026

OCHEFA

259 Views

The Bank of Industry (BOI) has appointed Kuramo Capital Management as the fund manager for the DICE Fund of Funds under the Federal Government’s Investment in Digital and Creative Enterprises (iDICE) Programme, in a move aimed at unlocking more capital for Nigeria’s technology and creative sectors.

The appointment, formalised at a contract signing ceremony in Abuja, marks a major milestone in the implementation of the iDICE Programme, which is designed to stimulate entrepreneurship, innovation, job creation and economic growth through targeted investments in high-growth enterprises.

The DICE Fund of Funds is expected to achieve a minimum capitalisation of $170.6 million, with the Federal Government providing an anchor investment of $85.3 million through the iDICE Programme.

Kuramo Capital has been tasked with raising an equivalent amount from private investors on a dollar-for-dollar basis, creating one of the largest government-backed venture capital initiatives in Africa.

The iDICE Programme is jointly financed by the African Development Bank, Agence Française de Développement and Islamic Development Bank.

It focuses on strengthening Nigeria’s digital economy and creative industries through skills development, access to finance and ecosystem support.

( DAILY TRUST)

Related Topics:BOI DICE Fund Featured Kuramo Capital

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Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

131 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

3 days ago

November 4, 2026

OCHEFA

170 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.