US EditionWest Africa: AfDB Backs Saviu With €6.5m to Boost Francophone Startup Funding
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6 Articles
African Development Bank Group approves €6.5 Million to support tech start-ups in Francophone West and Central Africa
The Board of Directors of the African Development Bank Group approved an investment of 6.5 million euros in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa. The Bank Group will invest 4.5 million euros as equity and 2 million euros as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa P…
Adesina approves €6.5m AfDB backing for Saviu fund
African Development Bank has approved a $7 million investment in Saviu II, a venture capital fund focused on early-stage technology startups in Francophone West and Central Africa.The commitment, cleared on Feb. 27 in Abidjan, combines €4.5 million in equity with €2 million structured as a first loss tranche supported by the European Commission under the Boost Africa program. The initiative is run jointly by the African Development Bank and the …
The African Development Bank Group (ADB) has invested €6.5 million in Saviu II, a venture capital fund that supports start-up technology start-ups and their first institutional fund-raising. The envelope consists of €4.5 million in equity and €2 million in loss cover, on behalf of the European Commission, under the Boost Africa Programme. The fund will prioritize companies with a strong technological or digital component. Read more»
The African Development Bank Group is stepping up its support for young technology enterprises in French-speaking Africa. Meeting on 27 February 2026 in Abidjan, its Board of Directors validated a €6.5 million investment (4,263,720,500 CFAF) in the Saviu II venture capital fund.
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