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PRESS RELEASE: IHS Nigeria Partners With Versecom Limited To Build A Low-Cost Co-Working Space

Versecom Limited, a smart city infrastructure company announces its partnership with IHS Nigeria for the construction of the first out of the five (5) Hubs in the Low – Cost Hub initiative by Versecom Limited, Lagos State Parks and Gardens Agency, Lagos State Employment Trust Fund, Leadspace by Passion Incubator and Cisco Nigeria.

The Low – Cost Hub initiative was created to tackle the cost of office and community barrier to business entry faced by most MSMEs and Freelancers in the country. This Hub offers a seat at N1000/day, 50% to 80% lower than current market rates; this Hub is targeted at idea stage – pre-seed startups and freelancers around Lagos; the hubs will be located within different public parks around Lagos, one might be coming up near you.

IHS Lagos Innovates Centre; The Energy Hub located in Rafiu Jafojo Park Shasha, Alimosho, will be officially launched on the 1st of November, 2019. The hub is the first of its kind, making IHS Nigeria the premier sponsor of this Initiative. The telecoms infrastructure giant provided all the funds required to build the hub in its support for Energy and Environment causes; one of IHS’ CSR pillars.

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The hub will be open to everyone, but the community events, challenges, etc will be tailored only towards Energy and Environment startups. In addition to the 500-seat capacity dome, IHS Nigeria has funded the construction of an energy laboratory with equipment like transformer winder, oscilloscope etc. in a bid to remove the barriers inhibiting innovation within the sector.   

Versecom Limited birthed this initiative while performing the due diligence required to provide free wifi in Lagos parks but then realized the park’s footfall was low during weekdays which is unsustainable for free wifi business. In order to boost park usage during weekdays, the idea of building an open floor low-cost co-working space using semi-permanent infrastructure was born.

Versecom Limited is the creator of the initiative and manager of all partners, LASPARK is the Operator of all public parks in Lagos and regulator of the partnership. IHS Nigeria is the sponsor of the construction of the hub, Leadspace by Passion Incubator would manage the Hub and help entrepreneurs build sustainable businesses, Lagos State Employment Trust Fund through its Lagos Innovates program will handle community engagements via its plethora of tech-focused programs and Cisco Nigeria is supporting with Wi-Fi equipment for the hub.

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All partners look forward to making a great impact with this initiative that allows small businesses thrive in Nigeria.

Visit to sign up now and become the first member of the hub.

admin | Abbey Oyetunji
admin | Abbey Oyetunji
Abbey Oyetunji is a Business Growth Strategist. An IT Mogul & Web Developer. Reach via mail: [email protected]


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