(Ecofin Agency) - Afric’innov fund, which provides young African entrepreneurs with financing at the beginning of their career, launched its seed fund on January 18. It focuses on capital provision to innovative companies.

This fund, worth €450,000, will be granted to Africans who have implemented innovative projects in digital sector, either as honor loans (interest-free loans) or as seed loans.

Amounts to be granted, which range between €10,000 and €30,000, will be repayable after 24 months.

Let us recall that Afric’innov was launched in October 2016, with the partnership of start-up incubators such as CTIC Dakar, CIPMEN in Niger, La Fabrique in Burkina Faso and Etrilabs in Benin.

It has been designed to strengthen and professionalize support structures for entrepreneurial initiatives in Africa.

Chamberline Moko