African News Business and Economy

African Development Bank Group Backs Tech Startups

By Ajuma N / March 3, 2026

The African Development Bank Group has approved a €6.5 million equity investment in the Saviu II fund to support early-stage technology startups in West and Central Africa. The decision was taken by its Board of Directors on February 27, 2026, in Abidjan.

The funding will prioritize French-speaking countries, including Lomé and other key markets in the region. The package includes €4.5 million in equity and €2 million in first-loss coverage under the European Commission’s Boost Africa program. The initiative aims to attract further private investment into digital-driven businesses. Saviu II plans to channel at least 60% of its resources into seven Francophone countries, among them Togo and Côte d’Ivoire.

The fund will target about twenty business-to-business startups, investing between €500,000 and €3 million per company. Beyond financing, the fund manager will provide operational and expansion support to strengthen the region’s growing tech ecosystem.

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