June 26, 2018 IBOMLLC Team

France pledged $76 million to fund African startups

Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Last month, French President Emmanuel Macron announced the launch of EUR65 million ($76.14 million) funding for African startups. This fund is part of a broader ‘Digital African’ initiative.

President Macron made the announcement while attending the VivaTech conference in Paris, France. During his speech, Macron pointed out that there is an increasing unity across the African continent, which makes a conducive environment for the provision of a comprehensive strategy geared towards supporting budding digital startups on the continent.

He went further to point out that there is no longer division between the Francophone and Anglophone African countries. Therefore, any development project for the continent ought to be comprehensive, and no rolled out in accordance to any division that might still be there.

The President launched the Digital Africa initiative on behalf of France’s development agency Agence Francaise de Development (AFD). The agency aims at providing a conducive platform for African entrepreneurs to scale up and achieve their highest potential. The agency tries to do so by encouraging collaboration and knowledge sharing, giving startups an online database of resources, providing access to funding, and hosting events.

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