{"id":4070,"date":"2021-10-11T10:58:07","date_gmt":"2021-10-11T08:58:07","guid":{"rendered":"https:\/\/afd-chooseafrica-qa.cegedim.cloud\/?p=4070"},"modified":"2021-10-11T11:31:35","modified_gmt":"2021-10-11T09:31:35","slug":"the-tie-up-between-proparco-and-digital-africa-will-strengthen-the-choose-africa-initiative-in-supporting-early-stage-african-startups","status":"publish","type":"post","link":"https:\/\/afd-chooseafrica-qa.cegedim.cloud\/en\/news\/the-tie-up-between-proparco-and-digital-africa-will-strengthen-the-choose-africa-initiative-in-supporting-early-stage-african-startups\/","title":{"rendered":"The tie-up between Proparco and Digital Africa will strengthen the Choose Africa initiative in supporting early-stage african startups"},"content":{"rendered":"
To meet the needs of entrepreneurs, particularly at the start of their ventures, the Choose Africa initiative will now offer African startups financing and assistance tailored to early-stage development. A total of \u20ac130 million will be deployed between now and 2025 in support of African digital startups through collaboration between Digital African and Proparco.<\/strong><\/div>\n
\n

Inadequate access to financing is one of the largest obstacles to entrepreneurial success in Africa. Through the\u00a0Choose Africa<\/em>\u00a0initiative<\/a>, the AFD Group has been increasing its financing and support for Africa\u2019s newly founded micro- and small businesses since 2018. Though the initiative has already been highly successful, Proparco wants to go further to meet entrepreneurs\u2019 needs more effectively, particularly early-on as they move from the idea stage to the growth stage. With this new step forward,\u00a0Choose Africa<\/em>\u00a0will be providing fledgling African small businesses a continuum of financing offers spanning all stages in their development:<\/p>\n

–\u00a0\u00a0 \u00a0In the seed stage, Proparco will develop synergies with Digital Africa by providing the latter with enhanced capabilities, particularly for funding small-ticket ventures.
\n–\u00a0\u00a0 \u00a0In the subsequent stages, Proparco will continue to invest in startups to assist them as they scale up and grow their business.<\/p>\n

A total of\u00a0\u20ac130 million will be committed between 2022 and 2025 to support Africa\u2019s digital startups<\/strong>\u00a0\u2014 twice as much as the \u20ac65 million announced by President Macron in 2018 and already committed by the AFD Group.<\/p>\n

\u201cProparco is expanding and enhancing its capacity to assist early-stage African startups. In doing so, we are continuing with our drive to support Africa\u2019s small businesses, as President Emmanuel Macron called for in Ouagadougou. The synergies that will emerge from the tie-up between Proparco and Digital Africa will enable us to offer financing and assistance tailored to the various early stages for startups. Our collaboration will amplify the success of Choose Africa and its impact on job creation and economic development<\/em>,\u201d stated Gr\u00e9gory Clemente, the Chief Executive Officer \u00a0of Proparco.<\/p>\n

\u201c2020 saw the launch of Bridge by Digital Africa, a fund developed by Digital Africa and run by Proparco to help organizations in the digital economy to sustain their growth through the post-Covid economic downturn<\/em>,\u201d added St\u00e9phan-Elo\u00efse Gras, Digital Africa\u2019s Executive Director. \u201cThe success of the programme led us to consider a closer partnership to assist innovative companies through their different development stages. By combining Proparco\u2019s financial expertise with Digital Africa\u2019s ability to source high-potential market solutions and nurture talent, we are creating a powerful tool for furthering digital innovation \u2018made in Africa\u2019<\/em>.\u201d<\/p>\n

CHOOSE AFRICA: THE KEY FIGURES\u00a0<\/strong><\/p>\n

Taking its cue from President Emmanuel Macron\u2019s 2017 speech in Ouagadougou, the French initiative Choose Africa finances and assists micro- and small startups in Africa. Since 2018, the AFD Group has been stepping up its involvement, drawing on the full range of its tools to support entrepreneurial Africa \u2014 a crucial driver of job creation and access to essential goods and services.
\n\u2022\u00a0\u00a0 \u00a0The institution has committed \u20ac2.5 billion to date<\/strong>, including more than \u20ac600 million as part of the new Resilience component launched in response to the Covid-19 pandemic.
\n\u2022\u00a0\u00a0 \u00a0This financing has been granted in the form of loans, investments, guarantees and technical assistance to over 200 partners \u2014 banks, investment funds, microfinance institutions and more \u2014 in order to\u00a0assist more than 26,000 micro- and small startups<\/strong>, as well as tens of thousands of micro-entrepreneurs.
\n\u2022\u00a0\u00a0 \u00a0Over the next five years, this will result in the direct or indirect\u00a0creation or continuation of 1.5 million jobs<\/strong>.<\/p>\n

A COMMUNITY DESIGNED BY AND FOR AFRICAN ENTREPRENEURS<\/strong><\/p>\n

Proparco, an organization that has built up expertise and a client portfolio over the past 40 years in Africa, now wants to enable the clients in its network to benefit more broadly and consistently from its intellectual output and support tools.
\nTo further enrich the Choose Africa offer, Proparco therefore plans to establish a network of communities of African private-sector organizations to achieve the following:
\no\u00a0\u00a0 \u00a0Institute dialogue and sharing among the micro- and small businesses targeted
\no\u00a0\u00a0 \u00a0Link up those businesses with international investors
\no\u00a0\u00a0 \u00a0Strengthen the ties between African organizations and the French ecosystem<\/p>\n

The aim is to get people in Africa\u2019s private sector to engage in dialogue and build communities designed by and for African entrepreneurs.<\/p>\n

Proparco has accordingly initiated a survey of over 150 entrepreneurs participating in the Summit so as to identify needs on the ground. Some thirty of them have met to define the primary features of such a community, based on the expectations that have surfaced. They have also prototyped solutions likely to meet entrepreneurs\u2019 networking expectations, improve the sharing of knowledge and information and strengthen cooperation with French partners operating in Africa.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"To meet the needs of entrepreneurs, particularly at the start of their ventures, the Choose Africa initiative will now offer African startups financing and assistance tailored to early-stage development. A total of \u20ac130 million will be deployed between now and 2025 in support of African digital startups through collaboration between Digital African and Proparco. Inadequate… View Article<\/a>","protected":false},"author":15,"featured_media":4069,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[128],"pays":[129],"offres":[],"class_list":["post-4070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-start-up-et-numerique-en","pays-afrique-en"],"acf":[],"yoast_head":"\nThe tie-up between Proparco and Digital Africa will strengthen the Choose Africa initiative in supporting early-stage african startups - Choose Africa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/afd-chooseafrica-qa.cegedim.cloud\/en\/news\/the-tie-up-between-proparco-and-digital-africa-will-strengthen-the-choose-africa-initiative-in-supporting-early-stage-african-startups\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The tie-up between Proparco and Digital Africa will strengthen the Choose Africa initiative in supporting early-stage african startups - Choose Africa\" \/>\n<meta property=\"og:description\" content=\"To meet the needs of entrepreneurs, particularly at the start of their ventures, the Choose Africa initiative will now offer African startups financing and assistance tailored to early-stage development. 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