The European Union and Investisseurs & Partenaires (I&P) has announced the launch of I&P Accelerate in the Sahel, a program designed to support the growth and development of 300 startups and small businesses in the countries of the Sahel region.
“The COVID context reminds us that it is essential to support the private sector, and in particular small and medium-sized enterprises, to mitigate the impact of the crisis, prepare for the aftermath, and respond more generally to the challenges jobs and poverty. This program is a major step forward, at the heart of I&P’s mission, allowing us to structure our acceleration and initiation activities. “ says Jean-Michel Severino, President of Investisseurs & Partenaires.
Here Is What You Need To Know
- The I&P Accelerate in the Sahel program is aimed at startups and small businesses, real pillars of job creation and essential cogs in the economic and social development of the Sahel region.
- The program will respond to the challenges of funding, modernization, competitiveness and professional training of these companies, with a view to promoting job creation.
- Deployed over four years, this ambitious € 15.5 million program will benefit some 300 small businesses operating in 13 countries in the Sahel sub-region: Benin, Burkina Faso, Cameroon, Côte d’Ivoire, Gambia, Guinea, Ghana , Mali, Mauritania, Niger, Chad, Togo and Senegal.
- This initiative aims to strengthen and generate a dynamic entrepreneurial fabric and a network of professionals ready to support their growth. This ecosystem will reinforce the socio-economic stability of the fragile countries, targets of the intervention, and will make it possible to create or maintain up to 5000 jobs.
- In the short term, around fifteen companies will benefit from financial support and technical support to help them adapt their model, maintain their activity and overcome this crisis.
- I&P Accelerate in the Sahel is funded by the European Union through the Emergency Trust Fund for Africa.
- Its implementation is ensured by Investisseurs & Partenaires (I&P), a group specializing in the financing and support of SMEs in sub-Saharan Africa.
- I&P Accelerate in the Sahel is deployed locally by I&P teams specializing in financing and supporting SMEs as well as by 4 sponsored management companies and I&P partners, managing capital investment funds dedicated to small and medium-sized businesses. local companies with high potential: Comoé Capital in Ivory Coast, Teranga Capital in Senegal, Sinergi Burkina in Burkina Faso and Sinergi Niger in Niger.
- The unprecedented situation caused by the covid-19 crisis was taken into account and integrated into the program. A significant part of the budget will thus be specifically devoted to supporting the companies most affected by the crisis.
I&P Accelerate in the Sahel was designed around three complementary components:
- Seed financing to meet the financing needs of companies during their incubation or acceleration phase;
- Technical assistance to strengthen the capacities of African companies and investment teams;
- Support for the entrepreneurial ecosystem in the countries of intervention.
How Startups In These Countries May Apply
Startups in the afore-mentioned countries desirous of participating in the programme shoud follow this link to know more
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.