The African Development Bank Group (AfDB) has approved a €6.5 million investment in the Saviu II venture capital fund to support the growth of technology startups across Francophone West and Central Africa. The investment aims to strengthen the region’s technology ecosystem by providing early-stage funding to innovative digital businesses and startups with strong growth potential.
According to the bank, the financing package includes €4.5 million as equity investment and €2 million as a first-loss hedging tranche provided on behalf of the European Commission under the Boost Africa Programme, a financing initiative designed to reduce investment risks and attract more private capital into Africa’s startup ecosystem. The structure helps de-risk early-stage investments and expand funding opportunities for technology-driven businesses in underserved markets.
The Saviu II fund, managed by Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-enabled business-to-business startups at the seed stage or during their first institutional fundraising round. The fund will prioritise companies with strong digital or technological components, including sectors such as fintech, agritech, logistics, healthtech, and edtech.
At least 60 percent of the fund’s investments will target French-speaking countries in West and Central Africa, including Côte d’Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso, and Mali. The fund may also co-invest in promising startups in East Africa that have expansion strategies into Francophone markets. The initiative forms part of AfDB’s broader strategy to boost innovation, support private-sector development, and create jobs through digital entrepreneurship across Africa. By expanding access to venture capital in underfunded markets, the bank hopes to strengthen startup ecosystems and encourage the development of scalable technology businesses across the continent.
