Gabon Launches A New $900k To Support Startups And Small Businesses
The National Agency for the Promotion of Investments in Gabon (ANPI-Gabon) has signed an agreement of CFAF 500 million ($900k) with the African Financial Company (Cofina) to support SMEs. This funding aims to provide technical and financial support to local businesses
The National Agency for the Promotion of Investments in Gabon (ANPI-Gabon) and the African Financial Company (Cofina) proceeded on Monday August 31 to the signing of an agreement of CFAF 500 million intended for small and medium-sized enterprises in Gabon. The two entities are committed to supporting local businesses during their first 3 years of existence.
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According to the Director General of ANPI-Gabon, Gabriel Ntougou, this agreement is part of the improvement of the competitiveness of SMEs and the establishment of an institutional support mechanism for the private sector. Yvan N’na Mboma, Director General of Cofina, in turn specified that this type of financing is aimed particularly at a category of companies that does not have access to financing from traditional banks.
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Both technical and financial support will also provide businesses with expertise in business sectors and a capacity to generate flows. Note that small and medium-sized enterprises will be selected on the basis of criteria defined by the two entities.
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