$69 Million Fund Launched to Boost DeepTech Innovation in Francophone Africa
- A $69 million innovation fund has been unveiled to support DeepTech ventures in Francophone Africa.
- The fund aims to finance 1,000 innovation-driven projects over the next five years across OAPI’s 17 member countries.
- AGF will offer credit guarantees to improve access to bank loans for startups.
The establishment of the innovation fund represents a significant step towards enhancing the DeepTech landscape in Francophone Africa. However, its success will heavily rely on overcoming existing bureaucratic hurdles and ensuring efficient coordination between public and private sectors. Continuous monitoring and adaptive strategies will be essential to realize the fund's full potential.
