Paperless Technology Solution
Gurd shola Addis Ababa,
Ph: +251936515136
Work Inquiries
Ph: +251936515136

France’s Digital Africa seeks private-sector partners for start-up investing – The Africa Report

By David Whitehouse
Posted on Tuesday, 22 February 2022 11:37, updated on Wednesday, 23 February 2022 10:26
France’s Digital Africa is looking for private partners to help accelerate its backing for African start-ups, CEO Stéphan-Eloise Gras tells The Africa Report.
Gras wants to work with early-stage funds to make pre-seed co-investments in Africa starting in 2023 or 2024. Digital Africa is in discussions with existing private-sector collaborators and new possible partners, she says. “Our DNA is closer to that of a venture-capital fund than development finance institutions” (DFIs).
Digital Africa is aiming to escape its French public-sector culture and become more responsive to African entrepreneurs on the ground. DFIs make large-scale investments but are less likely to provide quick, small-scale funding, Gras says. Digital Africa plans to make fast investments in the form of debt which can be converted into equity. The aim is not to pick long-term winners, but to make rapid exits within three to five years to allow support for other start-ups, Gras says.
READ MORE France’s Digital Africa seeks private-sector partners for start-up investing
The body was set up in 2018 by French President Emmanuel Macron to support African start-ups. Disputes over accountability led to the prospect of the association’s closure in 2021. The organisation will now work as a unit of Proparco, which in turn is part of the Agence Française de Développement (AFD), to invest 130m euros ($147m) through 2025.
Gras is looking for four main types of partners: DFIs, public institutions, private institutions and private companies. The partners that it has identified to date are from within a familiar orbit: the German development agency GIZ and non-profit NGO Silatech are being targeted for priority projects, according to a Digital Africa white paper.
New private-sector partnerships will be key if Digital Africa is to move beyond DFI territory.
Understand Africa’s tomorrow… today
We believe that Africa is poorly represented, and badly under-estimated. Beyond the vast opportunity manifest in African markets, we highlight people who make a difference; leaders turning the tide, youth driving change, and an indefatigable business community. That is what we believe will change the continent, and that is what we report on. With hard-hitting investigations, innovative analysis and deep dives into countries and sectors, The Africa Report delivers the insight you need.
Give yourself a headstart:
Get full access to The Africa Report on all your devices.

The value of prominent cryptocurrencies has fallen sharply this year. The price of Bitcoin has more than halved, and Ethereum is down by more than 60%. And major stablecoin Terra has collapsed altogether. And yet for many Nigerians, digital assets remain a good bet.
The mega gas transport project linking Algeria, Nigeria, and Niger will eventually bring Nigerian gas to Europe.
Largely dependent on the mining sector, DRC has officially launched calls for tender for 30 oil and gas blocks (rather than 16), including two belonging to Israeli tycoon Dan Gertler. This is enough to whet the appetite of the giants.
In April, Egypt announced the sale of nearly $40bn in assets over four years to try to revive an economy in crisis. Several Gulf countries have jumped at the opportunity and have already spent some $20bn on the acquisition of public assets for sale.


Post a comment

Your email address will not be published. Required fields are marked *

We use cookies to give you the best experience.