France commits 130 Million EUROS to 500 African Tech startups

French President, Emmanuel Macron has announced a financial commitment of €130 million to support the proliferation of technological innovation and entrepreneurship in Africa. This disclosure was made during the New Africa-France summit on Friday October 8th, 2021. The financial commitment is to be spread over a three year period.

The Digital Africa team was present in the coasta city of Montpellier in Southern France to unveil new programmes. The team announced the Fuze project which Is set to focus on Francophone countries in Africa with a goal of supporting at minimum of 200 tech start-ups by 2022. The strategic approach towards this goal is through structured, repayable loans of between €10,000 and €200,000.

Digital Africa aims to contribute immensely to the development of non-financial activities such as knowledge production, training, research, networking and support for the evolution od regulatory frameworks. The organisation also seeks to leverage on the opportunity to raise funds from public and private donors.

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