AfDB-Inwi Newest Partnership Will See Moroccan Startups Solve 30% Of Their Investment Needs
The African Development Bank (AfDB) and the Moroccan digital operator Inwi have signed a partnership agreement with the aim of supporting innovative startups in the digital sector.
The initiative is part of the “Souk At-Tanmia” program which was launched in 2019 with funding from the Dano-Arab Partnership Program (DAPP). The mission of the program is to support project leaders through technical and financial support.
In detail, the partnership between the two parties was sealed during a ceremony which took place on the sidelines of the ninth edition of “inwiDays”, a flagship event of the digital scene in Morocco.
The partnership will help start-ups developing innovative digital solutions to take advantage of the new opportunities offered by the COVID-19 crisis and to create jobs.
“Support for entrepreneurship and innovation is at the heart of the African Development Bank’s priorities. Thanks to the synergies between our two institutions, we will be able to further strengthen our support for young entrepreneurs, which is crucial in the current context of crisis, ”said Mohamed El Azizi, Managing Director of the African Development Bank for North Africa.
It should be noted that in the implementation of this partnership, the project leaders selected by “Souk At-Tanmia” will benefit from targeted training, support for the creation and development of their structures and funding under form of donation of up to 30% of the amount of the investment.
Inwi, for his part, will participate in candidate selection committees, support a selection of entrepreneurs in the development of their business model and support the campaign to disseminate the program to startups.
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It would be recalled, moreover, that “Souk At-Tanmia” is a program which mobilizes local actors, incubators and public institutions for public-private-NGO partnerships. The objective is to support very small and medium-sized enterprises (VSEs) as well as cooperatives operating in the three regions of Guelmim-Oued Noun, Darâa-Tafilet and Tanger-Tétouan-Al Hoceïma.
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
AfDB Inwi