President Emmanuel Macron - Afrikan Heroes

France Commits Extra $150m Funding for African Tech Startups

October 19, 2021

The French President Emmanuel Macron has made a new EUR130 million (US$150 million) commitment to support 500 African startups as part of a rejigged Digital Africa initiative. The Initiative was launched in 2018 with the mission to equip African tech entrepreneurs with capabilities to design and scale up ground-breaking innovations for the real economy, Digital Africa brings together startups, academia, incubators, institutional financiers, venture capitalists and technology clusters to help develop the African startup space.

President Macron’s renewed financial commitment of EUR130 million, made at the New Africa-France Summit last week, covers the next three years, while a reorganisation means Digital Africa is now part of Proparco, the private sector subsidiary of the Agence Française de Développement (AFD).

At the event, Digital Africa also unveiled a host of new programmes. In terms of financing, it announced the Fuzé project, which focuses on Francophone Africa and aims to support at least 200 tech startups by early 2022 via a new small ticket fund. This will provide, in stages, funds of between EUR10,000 (US$12,000) to EUR200,000 (US$230,000) in the form of repayable loans.

In terms of skills, Digital Africa has joined forces with Make IT and the German government to set up Talent4StartUps, a fellowship programme designed to meet the needs of talents that have been trained in tech and digital, and put them in touch with startups actively recruiting.

More broadly, Digital Africa will continue to develop non-financial activities such as knowledge production, training, networking, research, and support for the evolution of regulatory frameworks, while having the opportunity to raise funds from other public or private donors. This will be enabled by its new status as a subsidiary of Proparco.

“Digital Africa’s new organisation, redefined with our partners, allows us to reinforce our commitment to “made in Africa” tech innovations and become a factory for future African unicorns. Startups need a one-stop-shop combining training, research, project-structuring, support to pro-tech and pro-innovation reforms, and financing,” said Digital Africa’s chief executive officer (CEO) Stéphan-Eloise Gras.

“From now on, thanks to the merger with Proparco, they will find in Digital Africa a partner capable of offering them support from ideation and seed to growth and hypergrowth. By putting tech at the service of transparency and efficiency in development aid, and by getting closer to the private sector, Digital Africa wants to make a long-lasting difference.”

The Digital Africa team is now preparing a roadshow that will take place at the end of this quarter and will stop in several African regions to strengthen connections with key partners and players, promote the programmes, and invite African startups to apply. These field trips will also be an opportunity to finalise new projects, including the “product-market fit academy” designed to improve the suitability of tech solutions for local markets, to be launched in 2022.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

France Launches $33.7m Credity Facility For Startups And Small Businesses In Tunisia

July 2, 2020

A new line of credit to support Tunisian SMEs and startups have been made available by the French Government to Tunisian SMEs and SMIs, including 6 million Euros in donation, as part of the acquisition of goods and services of French origin up to 70% minimum.

“This funding tool aims to stimulate economic relations between Tunisia and France. Its implementation is one of the objectives set out in the road map on economic development adopted during President Macron’s state visit in January 2018. This road map has since been regularly monitored in the framework of the High Council for Franco-Tunisian Cooperation,’’ said Franc SECULA, Minister-Advisor, Head of the Regional Economic Service at the French Embassy in Tunisia.
Read also:https://afrikanheroes.com/2020/06/04/tunisia-to-open-sea-air-and-land-borders-on-june-27/

The establishment of this line of credit is part of the joint effort to help the economic development of the country and to strengthen trade links between Tunisia and France.
The Regional Economic Service and the Agency for the Promotion of Industry and Innovation, with the support of the Business France office in Tunis and the Tunisian-French Chamber of Commerce and Industry are organizing a series of webinars intended to present the characteristics of this line of credit, its conditions of eligibility, eligible goods and services and its terms of financing.
The first webinar will take place on July 8 at 9:00 am, and will concern investors in the agrifood industries sector.
Registration: Register before July 6 by filling out the online form available here. Or contact the organizers through the following address: tunis@busniessfrance.fr

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.