Tag: For Boosting Investments in Innovative African Businesses

The African Development Bank plans to invest USD 10.5 million in the capital of Seedstars Africa Ventures to boost investment in innovative businesses

Mr Mohammed

ABIDJAN, Ivory Coast, January 18, 2024/ — The Board of Directors of the African Development Bank (AfDB) (www.AfDB.org) agreed on Wednesday that the Bank should take a stake of USD 10.50 million in the capital of Seedstars Africa Ventures S.L.P. venture capital fund to enable it to invest in innovative African businesses with strong growth potential. The Bank agreed to invest USD 7 million from its ordinary resources and USD 3.5 million from the European Union Boost Africa programme. The investment will allow Seedstars Africa Ventures (SAV) to raise funds,…