I&P realizes 11 new seed funding in Côte d'Ivoire, Senegal, Burkina Faso and MaliSubmitted by Admin on Mon, 02/15/2021 - 18:28
Launched in July 2020 with the support of the European Union through the Emergency Trust Fund for Africa (UTF), the I&P Acceleration in Sahel program has provided a dozen new seed funding these last months.
A program to accelerate the development of entrepreneurial projects and small businesses in the Sahelian sub-region
To accelerate the development of start-ups in the Sahelian subregion, I&P and the European Union launched I&P Acceleration in Sahel, an innovative program providing seed funding and technical assistance missions to small companies and start-ups that are considered too young to benefit from conventional financing (bank loans, capital investment, etc.). Learn more.
During the last few months, I&P and the impact investment funds - Comoé Capital, Sinergi Burkina, Sinergi Niger, and Teranga Capital - have welcomed 8 new companies in 3 Sahelian countries :
In Burkina Faso :
- Fenel, a fashion accessory design house based on hand woven fabrics (Faso Dan Fani)
- Salgatech, a company producing and installing multifunctional cold rooms and ice machines
- Yam Agro Industries, a company specialized in the production of syrups (bissap, ginger) and mango jam.
In Côte d’Ivoire :
- Citrine Corporation, a company specialized in the processing and marketing of cassava into fresh attiéké and placali
- Ecoclair, a company specialized in industrial laundry for hotel complexes, companies and industries and private customers
- E'Sens, an Ivorian company specialized in the production of essential oils of citrus fruits (bitter orange, bergamot)
- Syn'el, a company specialized in the artisanal manufacture of sorbets on sticks from entirely natural juices
In Mali :
- Fulbe & Khem, a laboratory specialized in the transformation of local medicinal plants into food supplements and cosmetic products and the marketing of the products through pharmacies, parapharmacies, mini-markets and organic chain stores.
I&P Acceleration in Sahel also responds to the needs resulting from the Covid-19 crisis
As the health crisis and the economic impacts generated by the covid-19 pandemic have greatly weakened small and medium enterprises, a part of the program's budget has been devoted to supporting I&P partner companies with high potential, but which have had to reinvent themselves to be able to maintain their activities in the face of the Covid-19 crisis
Moreoever, 3 new companies received additional support from the local teams in charge of the program, enabling them to strengthen their cash flow, develop new services, or strengthen their supply sources:
- Africa Radio, a private pan-African and independent radio station
- Firefly, a communication company within public transport in Senegal, particularly buses in Senegal
- Golden Nuts & Grains (GNG), a company specialized in the production of natural juices from local products
ABOUT I&P ACCELERATION IN SAHEL
I&P Acceleration in Sahel is a program for start-ups and small and medium enterprises in West Africa with one main objective: to give them access to financing and the skills they need to enable their development and thus promote the creation of decent and sustainable jobs in the sub-region. Learn more about I&P Acceleration program in Sahel.
This ambitious program, which to date includes 28 companies, is financed by the European Union through the Emergency Trust Fund for Africa, a financial instrument to respond quickly, flexibly and effectively to emergency situations related to the migration crisis and forced displacements, and to propose sustainable solutions to the root causes of migration. For more information, visit the official website of the European Union