French President Emmanuel Macron last May 24 announced a fund worth €65 million to assist African young businesses.
“The French Development Bank (AFD) will deploy in coming weeks a specific instrument equipped with €65 million […] that will be used to fill support gap through fund-tranches estimated between €30,000 and €50,000 for startups in need,” the president specified at the opening of the Vivatech technology fair.
“African startups are skilled but largest development aid donors and funders are not adapted to this, even us, we are too slow, too reluctant,” he added expressing his desire that France “takes steps in the financing of African ecosystems’ development”.
AFD's fund will support startup projects that will be selected on a platform called Digital Africa. The head of State also announced that AFD would subsequently call for others including private donors, to participate in order to “multiply this initiative tenfold”.
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...
Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...
Even though it remains the smallest "crypto-economy" in the world, sub-Saharan Africa shows that vir...
Qatar Investment Authority (QIA) will invest $500 million in Ivanhoe Mines. The investment gives QIA approximately a 4% stake in...
U.S. Representative Brian Mast introduced a bill to condition IMF aid to Zimbabwe on full compensation for expropriated white farmers. Zimbabwe...
Starlink halts sign-ups in Lagos, Abuja as Nigeria demand overwhelms satellite capacity. Prices up, speeds down: Nigeria’s waitlists expose limits...
Khalil Dinguizli becomes the European Bank for Reconstruction and Development's (EBRD) first representative in Senegal. Senegal joined the EBRD as...
Surprisingly, only one African song made it onto Rolling Stone's list of the 500 Greatest Songs of All Time. The track is "Essence," a collaboration...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...