By Richard Adorsu-
NEW AFRICA BUSINESS NEWS (NABN) Accra- In the middle of the COVID-19 pandemic and its impact on global economic crisis on small businesses on the African continent, the GreenTec Capital Africa Foundation, together with the French Development Agency, will hold a summit which seeks to support and encourage the growth of startups in francophone African countries.
The GreenTec Capital Africa Foundation (GCAF) is a non-profit organization founded to promote the development of investment into African entrepreneurship and support the creation of local economic and social added-value. Together with GreenTec Capital Partners, the NGO has been successfully supporting and investing in African early-stage startups for more than five years.
As part of this program launched by the AFD, the GCAF will select digital, francophone-based, early-stage startups and SMEs and will offer them two types of support: A free interest repayable advances for companies demonstrating a capacity for development; a venture building support, in the form of strategic, financial, technical, and operational advice and capacity building.
Following selection, founders will have the opportunity to qualify for GreenTec Capital Partners’ unique “Results4Equity” program. The program combines operational and light financial support. In contrast with other investors, GreenTec does not take equity for simply providing funding or a fixed quantity of support deployed for an investee, but only for the results of its total contribution, as measured by the achievement of pre-defined targets agreed upon with the startup’s founders at the beginning of the collaboration.
In 2019 the foundation hosted three investor trips to engage with African entrepreneurs in Europe and in West Africa. These meetings led to six activated investment opportunities.
For New Africa Business News Richard Adorsu Reports, Africa Correspondent
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