Why We Declined $500,000 Foreign Investment Funds, VETA Origin Nigeria Reveals

Oghenevwede Ohwovoriole in Abuja

The management of VETA Origin Nigeria (VON) has given reasons why the company rejected an offer of investment worth $500,000 by a American firm.

In a statement by VETA Origin Nigeria, the Chief Executive Officer (CEO), of the VON, Ismail Waziri has given the reasons behind his company rejecting $500,000 investments funds from United States-based venture capital firm.

He said the company wants to concentrate on serving Africans first before it will go for global collaborations and investment funds.

“We acknowledge with appreciation the interest shown by international investors in Veta Origin, including recent funding considerations.

“After careful evaluation, we have made a deliberate decision to respectfully decline a $500,000 investment offer from a United States-based venture capital firm at this stage.

“Our priority remains clear: to focus on building and deploying artificial intelligence solutions that directly serve African users first. We believe that establishing strong local relevance, impact, and accessibility across African communities is critical before engaging in external
investment partnerships.”

He appreciated the firm for the offer and said for now their concentration is solely on Africa. “We are grateful for the confidence and support shown by global stakeholders and remain open to future collaborations that align with our long-term vision. Veta Origin is committed to developing AI that is locally grounded, inclusive.”