Microsoft has announced a possible funding of $500 million in partnership with venture capitalists to support African start-ups
African start-ups are increasingly gaining the confidence of investors. In a statement released on Thursday, the American multinational Microsoft said it will provide half a billion dollars to entrepreneurs on the continent. This fund will support 10 thousand start-ups over the next five years.
The launch of the initiative is planned in conjunction with the Microsoft Start-ups Founders Hub. The latter is a self-service centre that provides SMBs with a wide range of resources such as access to specific training, as well as numerous tools such as Microsoft Azure and GitHub, and support.
In addition, Microsoft plans to sign new partnerships with accelerators and incubators to provide start-ups with market access, technical expertise and funding. Priority will be given to companies with global reach and strong regional bases.
ARD/te/lb/abj/APA