Fundraising FoxMinistry of Finance Incorporated
Government fundAbuja · Growth · 20 people tracked
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Investment thesis
MOFI manages the Nigerian Federal Government's investment portfolio, spanning roughly 130 asset classifications of Government-Owned Entities and Government-Linked Companies, holding majority stakes in over half. It aims to grow its assets under management to at least NGN 100 trillion over ten years, generate a minimum of USD 10 billion in additional GDP by 2033, create 50,000 new jobs across priority sectors within five years, and establish at least five new sector-focused growth funds. Priority sectors include power, financial services, manufacturing, health, real estate, infrastructure finance, ICT, oil and gas, communications, transportation, aviation, hospitality, and agriculture.
Source: firm website, verified Oct 2, 2026.
Team · 20 people
from the firm's website
What they invest in
from 8 of 17 portfolio companiesFintech ×3Impact & Social Good ×3Advanced Manufacturing ×2Energy ×2AgTech ×1Construction Tech ×1Defense Tech ×1Enterprise Software ×1
HQs:Nigeria×5Egypt×1
Investments · 17 tracked
founders shown can be your intro pathAbuja Electricity (AEDC) is an electricity distribution utility that supplies power to customers and provides a mobile app for reporting outages and receiving service updates.
EnergyAbuja, NG
Co-investorsHeirs Holdings
Africa Re is a regional reinsurance institution serving clients across the African continent and select markets in Asia, Brazil, and the Middle East.
InsurTech
Afreximbank (African Export-Import Bank) is a pan-African multilateral trade finance institution that provides loans, guarantees, syndicated facilities, factoring, and project preparation financing to banks, governments, and businesses across Africa and the Caribbean.
Enterprise SoftwareFintechImpact & Social GoodCairo, EG
George Elombi(President)
Ajaokuta Steel Company Limited operates an integrated steel complex in Nigeria that produces steel via the Blast-Furnace/Basic Oxygen Furnace route, along with engineering workshops for fabrication, equipment repair, and spare-parts manufacture.
Advanced ManufacturingConstruction TechNew Materials
The Bank of Industry (BOI) is a Nigerian development finance institution that provides loans and advisory support to establish, expand, and rehabilitate large, medium, and small enterprises.
FintechImpact & Social GoodAbuja, NG
Olasupo Olusi(Managing Director/CEO)
Bank of Agriculture (BOA) provides personal and corporate banking, savings, and loan facilities focused on rural and agricultural finance for smallholder farmers, agribusinesses, cooperatives, SHGs, women, youth, SMEs, and rural entrepreneurs in Nigeria.
AgTechFintechImpact & Social Good
Defence Industries Corporation of Nigeria (DICON) is a Nigerian government defence body focused on developing the country's local defence manufacturing capabilities and reducing reliance on imported military hardware.
Advanced ManufacturingDefense TechGovTech
Eko Disco (Eko Electricity Distribution) operates a customer web portal and app for electricity customers to buy prepaid tokens, pay bills, manage multiple accounts, and view usage and payment history.
Energy
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AfdbAfrican Development BankAfrican Re-Insurance CorporationBank of AgricultureBenin Electricity Distribution CompanyBio Vaccines Nigeria LimitedDevelopment Bank of NigeriaEko Electricity Distribution CompanyMinesandsteel
Frequently asked questions
- How many investments has Ministry of Finance Incorporated made?
- Ministry of Finance Incorporated has 17 tracked investments.
- What stage does Ministry of Finance Incorporated invest at?
- Ministry of Finance Incorporated invests at the Growth stage.
- What sectors does Ministry of Finance Incorporated focus on?
- Ministry of Finance Incorporated focuses on Advanced Manufacturing, AgTech, Energy, Fintech, Healthtech, Logistics & Supply Chain, PropTech, Travel & Hospitality.
- Where is Ministry of Finance Incorporated located?
- Ministry of Finance Incorporated is headquartered in Abuja, NG.
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