I&P launches new program I&P Acceleration in Sahel, financed by the European UnionSubmitted by Admin on Thu, 07/16/2020 - 14:34
Investisseurs & Partenaires is pleased to announce the launch of I&P Acceleration in Sahel, a €15.5 million program financed by the European Union to support the growth and development of 300 start-ups and small businesses in the Sahel and Lake Chad Basin.
Promoting the creation of decent jobs in the Sahel region
The program I&P Acceleration in Sahel is aimed at start-ups and small businesses in the Sahel region and surrounding countries, where a growing network of high-potential, formal, small businesses is critical for job creation and sustainable development. The objective of the program is to give these companies access to financing and skills needed to foster their growth, thus promoting the creation of decent jobs in the region.
Rolled out over four years, this ambitious €15.5 million program will benefit approximately 300 companies operating in 13 countries: Benin, Burkina Faso, Cameroon, Côte d’Ivoire, Gambia, Ghana, Guinea, Mali, Mauritania, Niger, Tchad, Togo and Senegal. The initiative aims to generate and foster the local entrepreneurial fabric that will strengthen the socio-economic stability of fragile countries and create or maintain up to 5,000 jobs.
I&P Acceleration in Sahel will be deployed around three complementary components:
- Seed Financing to address the financing needs of the companies during their incubation or acceleration phase.
- Technical assistance to strengthen the capacities of the companies financed and the African investment teams on the ground.
- Support for the entrepreneurial ecosystems of the targeted countries.
The unprecedented situation caused by Covid-19 pandemic has been factored into the program. A large part of the budget will thus be specifically devoted to supporting the companies most affected by the crisis. In the short-term, some 15 companies will benefit from financial and technical support to help them adapt their model, maintain their operations and overcome the impacts of this crisis.
"The COVID-19 context reminds us that it is essential to support the private sector, and in particular small and medium-sized enterprises, in order to mitigate the impact of the crisis, prepare for the aftermath and respond more comprehensively to the challenges of employment and poverty. This program, at the heart of I&P's mission, is a major step forward and enables us to structure our acceleration and seed activities," says Jean-Michel Severino, Investisseurs & Partenaires CEO.
Committed and locally-rooted implementation partners
I&P Acceleration in Sahel is financed by the European Union through the Emergency Trust Fund for Africa and will be implemented by Investisseurs & Partenaires (I&P), an impact investing group dedicated to supporting small and medium-sized companies (SMEs) in sub-Saharan Africa.
The Emergency Trust Fund for Africa (EUTF) was established in 2015 to address the root causes of irregular migration and forced displacement in Africa. With actions combining an economic and social development cooperation program, humanitarian aid and crisis response assistance, the EUTF uses an integrated security-development approach by providing a comprehensive and integrated response to the needs of displaced populations. Click here to learn more.
Investisseurs & Partenaires is an impact investment group entirely dedicated to sub-Saharan Africa, targeting the "missing middle" of Africa’s economic fabric: small and medium-sized enterprises with financing needs below €3 million. The program is coordinated by I&P Entrepreneurs et Développement, a non-profit organization launched and managed by I&P, which aims to encourage and support entrepreneurship in sub-Saharan Africa and which is aimed at entrepreneurs in the earliest stages of their entrepreneurial adventure as well as at those still in the acceleration or incubation phases.
I&P Acceleration in Sahel will be deployed locally by I&P teams specialized in financing, coaching, education and training, and by four I&P-sponsored management companies and capital investment funds dedicated to high-potential, local, small and medium-sized companies: Comoé Capital in Côte d’Ivoire, Teranga Capital in Senegal, Sinergi Burkina in Burkina Faso and Sinergi NIger in Niger.