The Arab Gulf Programme for Development (AGFUND) is seeking partnerships with governments, local organisations and NGOs to expand its development initiatives across Africa, including Nigeria, with a focus on tackling unemployment through microfinance and support for small businesses.
Prince Abdulaziz bin Talal bin Abdulaziz Al Saud, Chairman of AGFUND, made the remarks during a press conference in Armenia, where he also announced that Nigerian clean-energy startup D-Olivette Labs had won $200,000 at the 2025 Prince Talal International Prize for Human Development. The fund’s approach builds on a mission that began in 2006–2007 and is now being expanded further into Africa.
Prince Abdulaziz said AGFUND is seeking to help address unemployment by supporting entrepreneurs rather than relying on governments to absorb an increasing number of graduates into public-sector employment. The organisation is exploring ways to help small businesses and entrepreneurs grow, including through financial inclusion banks that provide microloans and share knowledge with beneficiaries, helping low-income individuals establish businesses, expand their activities and eventually employ other people.
AGFUND’s development priorities include supporting small and medium-sized enterprises (SMEs), entrepreneurs and financial inclusion initiatives, with the organisation seeking partnerships with government institutions and NGOs to identify specific needs and develop interventions that could help communities become economically self-reliant. The fund’s 2030 strategy identifies early childhood development, women’s empowerment, civil society development, open education and financial inclusion as key focus areas.
Expanding these initiatives would require an understanding of the differences in culture, regulations and development priorities across African countries, with AGFUND’s representative cautioning against focusing exclusively on large-scale projects. “The aspirations are very big and the dreams are very big, but sometimes you need a pilot project,” the representative said, explaining that AGFUND tests initiatives on a smaller scale before expanding successful projects, with adjustments to reflect the circumstances of different regions.
Since its establishment in 1980, AGFUND has supported 1,798 development projects across 171 countries, in collaboration with more than 500 development partners, including UN, international and regional organisations, government entities and civil society institutions. The fund’s Project Funding Portal represents a step toward expanding financing opportunities and directing resources toward development priorities and high-impact initiatives.
The announcement came alongside recognition for Nigerian clean-energy startup D-Olivette Labs, which won $200,000 in the third category of the Prince Talal International Prize for its Bio-360 initiative, which uses AI- and sensor-powered biodigesters to convert farm and food waste into clean cooking gas, electricity and organic fertiliser. The award underscores the potential for Nigerian innovation to attract international development support, with AGFUND’s expansion offering opportunities for Nigerian development organisations, government agencies and NGOs to explore partnerships aimed at improving access to finance and supporting entrepreneurship.
The organisation did not specify the amount of funding it plans to commit to Nigeria, the number of beneficiaries it expects to reach or a timeline for implementing new initiatives in the country.
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