West Africa: AfDB Backs Saviu With €6.5m to Boost Francophone Startup Funding

West Africa: AfDB Backs Saviu With €6.5m to Boost Francophone Startup Funding

The African Development Bank has approved a €6.5 million investment in Saviu II, a venture capital fund targeting early-stage technology startups in Francophone West and Central Africa.

AfDB Bets €6.5 Million on Closing Africa's Francophone Tech Funding Gap

News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://www.newsghana.com.gh/afdb-bets-e6-5-million-on-closing-africas-francophone-tech-funding-gap/The African Development Bank Group (AfDB) has approved a €6.5 million investment in Saviu II, a venture capital fund targeting early-stage technology startups in French-speaking West and Central Africa, in a move designed to address one of the continent’s most persistent investment…

AfDB Backs Francophone Tech Start-ups with €6.5m

The African Development Bank (AfDB) Group has approved a €6.5 million investment in the Saviu II venture capital fund, signalling a renewed push to deepen technology entrepreneurship in Francophone West and Central Africa. The financing package includes €4.5 million in equity from the Bank and an additional €2 million as a first-loss hedging tranche provided […] The post AfDB Backs Francophone Tech Start-ups with €6.5m appeared first on Trending…

AfDB approves €6.5 million investment in Saviu II Fund to scale tech startups in Francophone Africa - African Sustainability Matters

The Board of Directors of the African Development Bank Group (AfDB) approved a €6.5 million investment on Monday in the Saviu II venture capital fund, a move aimed at addressing the severe funding deficit for early-stage technology startups in Francophone West and Central Africa. The investment structure comprises €4.5 million in direct equity and a €2 million first-loss hedging tranche facilitated on behalf of the European Commission through th…

AfDB invests €6.5m in Francophone West and Central Africa tech start-up fund

The Board of Directors of the African Development Bank (AfDB) Group has approved an investment of €6.5 million in the Saviu II fund.

African Development Bank Group approves €6.5 Million to support tech start-ups in Francophone West and Central Africa

The Board of Directors of the African Development Bank Group approved an investment of 6.5 million euros in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa. The Bank Group will invest 4.5 million euros as equity and 2 million euros as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa P…