The African Development Bank (AfDB) and the Moroccan digital operator Inwi signed, on Friday, a partnership agreement to support innovative start-ups in the digital sector and spur economic recovery, as part of the “Souk At-Tanmia” program.
In a context marked by the Covid-19 pandemic, this partnership will help start-ups developing innovative digital solutions to benefit from the new opportunities offered by the crisis and to create jobs, said a press release from the Bank.
“Support for entrepreneurship and innovation is at the heart of the African Development Bank’s priorities. Thanks to the synergies between our two institutions, we will be able to further strengthen our support for young entrepreneurs, which is crucial in the context of the current crisis,” said Mohamed El Azizi, Managing Director of the African Development Bank for North Africa.
As part of the implementation of this partnership, the project holders selected by Souk At-Tanmia will benefit from specific training, support for the creation and development of their start-ups and funding in the form of grants of up to 30% of the amount of the investment.
For its part, Inwi will participate in candidate selection committees, support a selection of entrepreneurs in the development of their business model and back up the program’s dissemination campaign among start-ups, the source said.
Souk At-Tanmia is a program that mobilizes local stakeholders, incubators and public institutions for public-private-NGO partnerships, it noted.
These cooperation models aim to inspire, at the local level, the development of a dynamic of integrated support with, ultimately, the deployment of regional platforms to coordinate the
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