Lekki Free Zone companions with Gluwa on Blockchain know-how

Lekki Free Zone companions with Gluwa on Blockchain know-how

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San Francisco, California, September 21, 2022, Chainwire

As a part of a push to strengthen its contribution to the Nigerian economic system, Lekki Free Zone Improvement Firm (LFZ) is in talks with Gluwa, a blockchain know-how firm. The pair want to companion and use blockchain to foster enterprise collaboration, progress and sustainability between new and present Free Zone firms. The affiliation would additionally discover the creation of a Digital Free Zone throughout the Lekki Free Zone.

Lekki Free Zone’s Head of Technique, Innovation and Particular Tasks, Mr. Tomiwa Idowu, has revealed that discussions are happening between LZF, the Nigerian Export Processing Zones Authority and the Gluwa crew.

In a press release, Idowu defined that the partnership, when finalized, will create a board for the tokenization of products in NFTs (non-fungible tokens) and supply loans backed by digital property for brand spanking new and present firms trying to finance operations and/or develop their companies. , much like the OpenSea and Compound integration.

Idowu shared his imaginative and prescient to innovate the industrial and industrial sector in Nigeria and Africa as a complete, bringing it into the trendy data age with the Lekki Free Zone on the epicenter.

“I’m very excited in regards to the enormous potential of such a partnership, which might additional set up Lagos State as Africa’s sub-national chief when it comes to innovation, financial growth and earnings era,” mentioned Idowu.

He praised Lagos State Governor Babajide Sanwo-Olu as a beacon of progress and hope for the nation at massive, saying: “Our Governor has all the time been a robust believer in accelerated growth, which entails the usage of know-how to bypass the forms and go straight to fixing fast issues.”

Gluwa CEO Tae Oh famous that the corporate is inquisitive about partnering with Lekki Free Zone as it’s the largest and most developed free zone in Nigeria with proximity to the deepwater port and Dangote refinery, saying: ” Commerce has been the bedrock of the Nigerian economic system, with annual volumes working into the billions of {dollars}.”

And he added: “We consider that the digitization of the sector can permit us to reap the benefits of its full potential. For instance, a regular course of for digitizing items manufactured or processed throughout the zone coupled with a web3 market system will permit producers to commerce globally through the blockchain.

“All companies shall be registered and can profit from the incentives of the Lekki Free Zone, such because the zero fee and the free motion of products. As quickly because the customs processing heart within the space clears the products for export, they are going to be shipped instantly from the Lekki free zone by means of the deep-water port.

“This may cut back delays, remove human error, exponentially enhance Nigeria’s non-oil exports and preserve a optimistic steadiness of commerce for the nation. Whereas we’re nonetheless figuring out the positive particulars and a selected framework with NEPZA, we consider it’s the way forward for commerce and commerce in Africa.”

About Gluwa

Gluwa is an open finance platform that connects capital from developed markets with lending alternatives from rising markets utilizing blockchain know-how. Offering the decentralized infrastructure rails to lift and disburse capital wherever on the planet, buyers can use the Gluwa Make investments platform to take part in debt financing offers with rising market fintech lenders, incomes as much as 15% APY.

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