30 Entrepreneurs Receive $1.3m From The Government Of Côte d’Ivoire

August 23, 2020

The government of Côte d’Ivoire has granted funding of CFAF 776 million ($1.3m) to 30 entrepreneurs to support their projects. These are the result of the first two sessions of the certification committee of the funding platform of the Youth Employment Agency. 

Here Is What You Need To Know

  • In Côte d’Ivoire, the Agence Emploi Jeunes handed over a little more than 776 million FCFA to 30 entrepreneurs, under the coordination of the Minister of Youth Promotion and Youth Employment, Mamadou Touré .
  •  The beneficiaries each received a sum ranging from 5 to 50 million FCFA ($8.9k to $89.9k), as support for their projects in the fields of livestock, agriculture, trade, agro-industry, services, etc. 
Biggest business obstacles for SMEs in sub-Saharan Africa
Biggest business obstacles for SMEs in sub-Saharan Africa. Image Source: Brookings Institution

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  • The Youth Employment Agency, through its online platform, allows entrepreneurs to present their projects with a view to financial support. A selection committee is responsible for rating and selecting the projects that will receive funding corresponding to the rating obtained. 
  • These projects, resulting from previous sessions of the certification committee of the Youth Employment Agency funding platform, will create more than 800 new jobs. 
  • To date, 528 projects have already benefited from a total funding of 6 billion FCFA. 
  • The funding, which is part of the implementation of the Ivorian government’s Social Program, has mobilized 15 billion FCFA for the year 2020, and aims to support the projects of more than 26,000 entrepreneurs.

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

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