The startup must also have a legal existence (legal statute), an increasing revenue and a viable product or solution that is innovative, to make French and African cities more sustainable from an environmental and social perspective. Startups can apply by Clicking HERE
The French government, having long recognised that Africa is the new frontier, launched an initiative called Choose Africa to accelerate the growth of micro, small and medium enterprises (MSMEs) and entrepreneurship on the continent.
The initiative aims to commit more than €2.5bn (R40.88bn) to finance MSMEs and entrepreneurs by 2022. This is divided into €1.5bn in credit lines and guarantees to local financial institutions dedicated to MSME financing, or guarantees to banks to share the risk on MSME lending – and €1bn in private equity, either through direct investments in companies or indirectly, via private equity MSME-focused funds.
From both a financial and support perspective, Choose Africa is evidence of France’s strong and ongoing commitment to stimulate the African entrepreneurial impetus.
In closing, the France-Africa summit is dedicated to actors of change, focused on creating better cities for better lives. I believe that our African nations can also certainly borrow from this platform’s agenda and implement intercontinental summits (e.g. South Africa-Europe, Kenya-America, Nigeria-Asia etc.) to develop ideas and build better living/working solutions using collaborative power. But first, many of our countries will have to get their own backyards in order, in terms of economic equality, increased employment opportunity and good accountable governance.