Niteon to Open $200bn Digital Export Market to African Manufacturers

By Aduragbemi Omiyale

Two Nigerian entrepreneurs have launched a neobank built specifically for African manufacturers. The idea is to open up the $200 billion digital export market to them.

The new initiative, known as Niteon Capital, is the brainchild of Mr Tony Nwose and Mr Daniel Chukwuemelie. It was created through their US-based startup, Niteon.

The launch of Niteon Capital comes as the company gears up for its $1.5 million equity and $5 million debt seed round, signalling a bold expansion into fintech infrastructure to complement its fast-growing marketplace, and taking aim at a deeper, more entrenched problem, manufacturers’ finance.

Unlike conventional digital banks, Niteon Capital was designed specifically for manufacturers and exporters, helping them factories to fulfil large purchase orders without cash flow delays.

It will also give them access to ethical financing models for manufacturers across Northern Nigeria and other Islamic markets, as the revolutionary new financial tool allows manufacturers to operate export-ready accounts with built-in tax advantages, carbon credit earnings, and multi-currency support.

In addition, they will have access to medium-term financing to upgrade machinery, facilities, or logistics capabilities, ensuring African manufacturers can meet global standards.

The entire system is embedded directly into Niteon’s growing export ecosystem, reducing friction between buyers, sellers, logistics providers, and now banking.

“African manufacturers are doing the hard work, but they’re being underserved by traditional banks. There’s no financial infrastructure built for them, but Niteon Capital changes that,” Mr Nwose stated.

Backed by global players like Seedstars, Tomi Davis, TVC Labs, Zenith Bank, and the Development Bank of Nigeria, Niteon is now positioning itself as a TradeTech leader, building infrastructure that rivals anything on the continent.

“We’re not just scaling a platform. We’re building the financial engine behind Africa’s industrial growth story,” Mr Chukwuemelie added.