To help support and finance African start-ups, Agency Française de Développement (AFD) is launching a new €15 million seed fund.
The group said it was launching the seed fund for African startups as part of Emerging Valley – a platform for emerging innovations and partnerships between Europe and Africa.
The new Digital Africa seed fund, the group said, was also part of the Choose Africa initiative, through which AFD Group has committed to allocating €2.5 billion to African start-ups and SMEs by 2022.
AFD Group is an international French International agency that funds, supports and accelerates the transition to a fairer and more sustainable world.
The fund will be accessible in 45 African countries, and will allow emerging start-ups to access financial support of up to €300,000 through AFD’s local partners.
