By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: NSIA Awards $225,000 to MoneyAfrica, Nine Other Nigerian Start-Ups in Innovation Prize
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Featured

NSIA Awards $225,000 to MoneyAfrica, Nine Other Nigerian Start-Ups in Innovation Prize

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: June 28, 2023
Share
3 Min Read
SHARE

The Nigeria Sovereign Investment Trust Fund (NSIA) has recognized the outstanding achievements of MoneyAfrica and nine other Nigerian start-ups by awarding them a total of $225,000 in the NSIA Prize for Innovation.

The top three winners received a combination of cash and equity, while the remaining seven winners received cash prizes.

MoneyAfrica, a promising start-up, emerged as the overall winner, securing a cash prize of $25,000. Extension Africa (Exaf) claimed the second position and received a cash prize of $17,500, while LegitCar secured the third position with a cash prize of $12,500.

The remaining seven start-ups, namely Apace Tech Solutions, Capsa Technology, CreditCheck, Kobopay, TrueQ, Vela Finance, and Ya-Lo Technologies, all shared the fourth position, each receiving a cash prize of $5,000.

- Advertisement -

The selection process began with a review of 2,000 entries, followed by six months of refining and developing ideas through two rounds of eliminations. The final stage involved a Demo Day held in Lagos, where the top 10 start-ups presented their ideas before a panel of judges and an audience that included banking executives and venture capital company representatives.

The Managing Director/Chief Executive of NSIA, speaking at the Demo Day, emphasized the organization’s commitment to empowering Nigerian innovators and supporting the rise of the digital economy.

The NSIA Prize for Innovation seeks to catalyze the limitless spirit of innovation prevalent throughout Nigeria, recognizing niche and multifaceted entries.

While the cash awards and event impact the winners directly, the NSIA’s core strategy aims to attract third-party capital, enabling innovators to secure funding from financiers worldwide.

- Advertisement -

The NSIA has demonstrated its ability to leverage global funding partnerships to address infrastructure needs across sectors.

Inuwa Abdullahi, Director General of the Nigeria Technology Development Agency, praised the ten finalists, highlighting the potential for job creation in Nigeria’s digital economy.

He emphasized that lack of financing often contributes to the failure of start-ups at their initial stages and commended the NSIA Prize for Innovation for its role in positioning Nigeria for accelerated job creation.

Abdullahi also discussed NITDA’s efforts to promote start-ups, mentioning the implementation of the Nigeria Startup Act and the establishment of a start-up investment Seed Fund.

He said the agency aims to secure at least N100 billion per annum to seed 1,000 early-stage start-ups and 400 late-stage start-ups, potentially generating over 80,000 jobs in Nigeria.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:NSIA
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Asiwaju Bola Ahmed Tinubu Eid-el-Kabir: We are Working Day and Night to Solve Nigeria’s Problems — Tinubu
Next Article NSIA-LUTH Cancer Centre Receives Prestigious Award for Outstanding Oncology Care

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Olubunmi Tunji-Ojo
FG Hails Success of E-Visa System, Processes Over 14,000 Applications in Six Weeks
News
Google bot
Google Releases June 2025 Core Update
Tech
NELFUND
NELFund Warns Students Against Fake Loan Portal, Urges Caution Over Fraudulent Links
Education
Tinubu and Saint Lucia’s Prime Minister Agree to Establish Formal Diplomatic Relations
International
Ali Bukar Dalori
Ali Bukar Dalori Assumes Role as APC Acting National Chairman After Ganduje’s Resignation
Politics
- Advertisement -
Ad imageAd image

You May Also Like

MI Abaga
Celebrities

MI Abaga Expresses Regret Over Past Support for APC

Damilola A.
Damilola A.
June 30, 2025
Senator Natasha Akpoti-Uduaghan
NewsTop stories

JUST IN: Court Grants Senator Natasha Akpoti-Uduaghan Bail on Self-Recognition

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
News

Anambra State Orders Investigation After Viral Video Shows Possible Anti-Touting Squad Excesses

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?