These investments will support AfDB's operational priorities, the "High 5s," by focusing efforts on startups active in key sectors such as agriculture, health, industrialization, and off-grid energy@afdb
Seedstars Africa Ventures, a $75 million venture capital fund, will focus on seed and startup stages, with initial investments of around €250,000, followed by additional capital injections of up to €5 million. The fund primarily targets sub-Saharan Africa, emphasizing markets less covered by traditional investors, with a particular focus on francophone countries such as Senegal, Ivory Coast, Benin, and Cameroon, as well as other markets like Ghana, Uganda, and Tanzania.
"This fund will contribute to the creation of over 9,000 full-time jobs"
Seedstars Africa Ventures' investment areas include financial inclusion, enterprise technologies (fintech, insurtech), retail and logistics platforms for online and mobile consumers, health technologies, prepaid off-grid energy, and, more broadly, technology adoption within businesses, especially in the agri-food industry and value chains.
It is estimated that this fund will contribute to the creation of over 9,000 full-time jobs, with a specific focus on women's participation (50%), and will generate significant economic impact. The fund's objectives align with those of the Boost Africa program, seeking to invest in innovative, high-growth startups with a positive social impact, thereby reinforcing AfDB's overall strategy that combines entrepreneurship, investment, and economic growth with poverty reduction and sustainable development.
Furthermore, these investments will support AfDB's operational priorities, the "High 5s," by focusing efforts on startups active in key sectors such as agriculture, health, industrialization, and off-grid energy. The ultimate goal is to strengthen regional integration and improve the quality of life for African populations.
