EBRD backs early-stage African technology companies
United Kingdom, Aug. 26 -- The European Bank for Reconstruction and Development (EBRD) is investing US$ 8 million (€ 6.8 million) in Ventures Platform Pan-African Fund II, marking the Bank's first commitment to a pan-African venture capital fund assessing opportunities in sub-Saharan Africa.The Fund will invest in early-stage technology companies across Africa, with a particular focus on Cote d'Ivoire, Egypt, Morocco, Nigeria and Senegal, targeting businesses with strong growth potential /to support innovation, job creation and private-sector development.The investment forms part of the EBRD's Early-Stage Innovation Facility II, a €200 million programme through which the Bank invests in commercially oriented venture capital fund...
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