The needs of startups, MSMEs, and SMEs in Africa today revolve around a balanced combination of financing and operational support
The Senegalese General Delegation for the Acceleration of Entrepreneurship for Women and Young People (DER), under the auspices of the Presidency of the Republic of Senegal, signed a partnership agreement with GreenTec Capital Partners, the premier German investor into African Start-ups. The purpose of the agreement is the foundation of the first regional Venture Building Center in Africa to tackle investment challenges by providing investment tickets between € 10,000 and € 500,000 for entrepreneurs at the cusp of their growth stages.
The needs of Start-ups, MSMEs, and SMEs in Africa today revolve around a balanced combination of financing and operational support.
The entrepreneurial boom and the entrepreneurial spirit on the African continent are primarily supported by the growth of new ecosystem stakeholders such as incubators, hubs, and accelerators. This momentum is nevertheless hindered by the systemic operational deficiencies that still exist within the ecosystem today. Additionally, the Start-ups are most often not well prepared to use conventional financing vehicles such as venture capital.
The agreement was …read more