The Group of the African Development Bank (AfDB) announced an investment of €6.5 million in the Saviu II fund, intended to support early-stage technology startups in West Africa and in Francophone Central Africa.
This decision was approved by the Board of Directors in Abidjan. The initiative aims to strengthen access to finance for innovative startups, particularly those operating in the digital and technology sectors.
As part of this operation, the African Development Bank will provide €4.5 million in equity, while an additional €2 million will be mobilized as a first-loss coverage mechanism, on behalf of the European Commission, under the Boost Africa program.
