Access to financing remains one of the difficulties start-ups face, particularly in Africa and the Middle East. Their support stimulates innovation, creates jobs and boosts the regional digital economy.
Orange Ventures, the venture capital entity of the Orange group, and Digital Africa, a pan-African initiative which supports African companies in the start-up phase, signed a partnership agreement on Thursday, May 23 on the sidelines of the Vivatech technology fair which is being held in Paris. The initiative aims to co-invest in start-ups from the Orange digital centers (ODC) network in Africa and the Middle East.
“ Orange Digital Centers are true catalysts for innovation where ideas take shape and dreams become reality. By joining forces with Orange Ventures and Digital Africa, we are giving African start-ups the means to thrive and leave their mark in a growing digital world,” said Asma Ennaifer (photo, left), executive director of CSR, communications and the Orange Digital Center program at Orange Africa and Middle East.
The partnership is part of the resolute commitment of Orange Ventures and Digital Africa to intensify their investments in start-ups accelerated by the ODC network. It also consolidates the strategic agreement concluded in June 2023 between Orange and Digital Africa, aimed at facilitating the financing and support of start-ups in the ODC network.
As part of the collaboration, the partners will now be able to double the funds committed by one of the two parties, thanks to a joint examination of the application files and the possibility of joint financing, via Fuzé, an investment system set up work by Digital Africa. This new step, involving Orange Ventures, should make it possible to support a growing number of African entrepreneurs in the ODC network from the first phases of their development, by offering them comprehensive financing and support.
The previous collaboration made it possible to finance five start-ups from the ODC network in the first year. Each of them received funding of up to 50,000 euros as part of Digital Africa’s Fuzé program.
Samira Njoya
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