The Sinergi Burkina impact fund is carrying out 5 new seed financingsSubmitted by Admin on Wed, 09/16/2020 - 12:52
Sinergi Burkina impact fund, dedicated to the financing and support of small and medium-sized enterprises in Burkina Faso, is providing five new seed funding through two programmes implemented by I&P and financed by the European Union (I&P Acceleration in Sahel) and the United States Agency for International Development (Partnering To Accelerate Entrepreneurship initiative).
Created in 2014 by entrepreneurs and private players including Investisseurs & Partenaires (I&P), Sinergi Burkina is the first impact investment fund dedicated to the financing and support of SMEs and start-ups in Burkina Faso.
Working closely with I&P, Sinergi Burkina finances companies with high growth and impact potential in all sectors and regions of Burkina Faso and aims to give entrepreneurs the technical and financial means to realise their growth projects. Sinergi Burkina participates in the implementation of several acceleration programmes managed by I&P aimed at facilitating the start-up and development of the smallest and youngest companies. The company is thus carrying out 5 new seed financing operations, totalling 15 companies in its portfolio to date.
5 new companies financed in Burkina Faso
3 companies have received funding through the USAID-funded Partnering To Accelerate Entrepreneurship program and 2 companies have received funding through the new EU-funded I&P Acceleration in the Sahel program:
- MAÏA, a social company developing ointments to protect African populations from malaria (PACE Programme with funding of $44,000 (25,000,000 F CFA))
- BIOPROTECT, a production unit specialising in the production and marketing of organic inputs (PACE Programme with financing of up to 37,000$ (25,000,000 F CFA))
- PRINCE DESSUTI INTERNATIONAL, a company in the textile and clothing craft sector (PACE Programme with funding of $27,000 (22,000,000 F CFA))
- MONSALON, a carpentry and interior decoration house (Programme I&P Acceleration in the Sahel with funding of €40,000 (27,500,000 F CFA))
- AFRIK BOVIA, a cattle farm specialising in the production of cow's milk (I&P Acceleration Programme in the Sahel with funding of €55,000 (36,575,000 F CFA))
The Sahel, a priority region for I&P and its partners
Since 2016, the I&P family has been developing several mechanisms to help strengthen the entrepreneurial ecosystem in the Sahel region. It is estimated that more than 110 million people are expected to be active in the labour market by 2030. However, between 40 and 50% of the population of the sub-region lives in extreme poverty. In this sense, start-ups and small and medium-sized companies in the sub-region have a role to play in providing new opportunities in the labour market.
This ambition is being pursued thanks to the mobilisation of the investment teams of Sinergi Burkina but also of the 3 other investment companies sponsored by I&P - Comoé Capital in Côte d'Ivoire, Teranga Capital in Senegal and Sinergi in Niger with the I&P Acceleration in the Sahel program which runs until 2023.
ABOUT SINERGI BURKINA
Created in 2014, Sinergi Burkina is the first impact investment fund dedicated to financing and supporting SMEs and start-ups in Burkina Faso. Headed by Job Zongo, Sinergi Burkina is the second investment fund sponsored by Investisseurs & Partenaires as part of the I&P Développement 2 fund. The fund network currently includes a fund in Niger (Sinergi Niger), Côte d'Ivoire (Comoé Capital), Senegal (Teranga Capital) and Madagascar (Miarakap). → To learn more about Sinergi Burkina
ABOUT I&P ACCELERATION IN SAHEL
I&P Acceleration in the Sahel is a support program aimed at start-ups and small and medium-sized enterprises in West Africa with one main objective: to give them access to the financing and skills necessary to enable their development and thus promote the creation of decent and sustainable jobs in the sub-region. Find out more about the I&P Acceleration program in Sahel.
The European Union finances the I&P Acceleration in the Sahel program 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 displacement, and to propose sustainable solutions to the root causes of migration. For more information, visit the official website of the European Union
ABOUT USAID PROGRAM
Investisseurs & Partenaires and the United States Agency for International Development (USAID) launched in 2016 an innovative acceleration program for start-ups in Niger, Burkina Faso and Senegal. The partnership is designed to support high-potential start-ups and small and medium-sized enterprises in order to facilitate their access to financing in a region where the ecosystem supporting entrepreneurship is still poorly developed. Click here to learn more