African Development Bank Group invests over €7.5 million in Breega Africa Seed I Fund to support African Innovative Start-ups
Cote Dlvoire, March 30 -- The Board of Directors of the African Development Bank Group has approved a €7.5 million investment in the Breega Africa Seed I Fund, to support Africa's most promising technology start-ups in their early stages.The Bank Group will invest €5 million in equity capital and €2.5 million in the form of a junior tranche on behalf of the European Commission, as part of the Boost Africa Initiative to support young entrepreneurs with innovative businesses across the African continent.The fund will inject resources into early-stage companies across various technology sectors: fintech, insurtech, agritech, healthtech, logistics, diversity and inclusion, as well as edtech and climate tech to expand access to...
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