The African Development Bank Group has approved a EUR 6.5 million commitment to the Saviu II venture capital fund to strengthen seed-stage technology financing in Francophone West and Central Africa. The investment, supported by the European Commission under Boost Africa, aims to accelerate digital entrepreneurship and regional market integration.
The Board of Directors of the African Development Bank Group (AFDB) has authorized a EUR 6.5 million investment in the Saviu II venture capital fund to expand access to early-stage financing for technology-driven enterprises across French-speaking West and Central Africa. According to official disclosures, EUR 4.5 million will be deployed as equity, while EUR 2 million will serve as a first-loss protection tranche backed by the European Commission under the Boost Africa Programme.
Saviu II, managed by Saviu Partners, intends to allocate between EUR 500,000 and EUR 3 million per company, targeting around 20 seed and first-round institutional-stage B2B technology startups. At least 60% of commitments will focus on Côte d’Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali, with selective co-investments in East African firms seeking expansion into Francophone markets. A dedicated pre-seed allocation will support minority stakes alongside incubators and venture studios.
The African Development Bank Group, a multilateral development finance institution, supports economic growth and social progress across the continent. Its participation reduces downside risk for private investors, potentially crowding in additional capital to underfunded early-stage ecosystems.
The move addresses a persistent funding gap in Francophone Africa, where startup capital lags Anglophone markets. For investors and regional policymakers, the initiative signals increased institutional backing for digital infrastructure, fintech, SaaS and enterprise technology ventures, strengthening cross-border market integration and long-term innovation capacity.
About GlobeNewsInfo
GlobeNewsInfo.com is a business news platform providing latest updates on global business developments, projects, and contract opportunities across diverse sectors and regions. The platform is designed to serve as a trusted source of information for companies, investors, and professionals worldwide.
