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Project Case Study

Accelerating African Growth

Driving private sector growth by empowering African entrepreneurs

African economies are among the fastest growing in the world, and overall, Sub-Saharan Africa (SSA) GDP was estimated to grow at over 3% over the next few years. However, and in spite of over a decade of robust growth, SSA has had largely “jobless growth” over the last years and youth unemployment remains a large concern. Small and medium-sized enterprises (SMEs) are the foundation of African economies. These companies will be the main contributors to economic growth, employment creation and increasing tax revenues, yet many of the fastest growing innovative companies are still relatively small and young. Venture Capital funds play a vital role in this intersection of early-stage enterprises and growth-stage enterprises and are often crucial in facilitating the growth paths of companies. 

There is, therefore, an urgent need to support the nascent African entrepreneurial ecosystem by creating new businesses, promoting innovation, providing growth capital for start-ups to rise and become regional and global champions, accelerating structural changes in the economy and contributing to productivity and competitiveness. 

Project Info

Accelerating African Growth

Durations

  • 2020-2025

The Boost Africa Technical Assistance Facility provides capacity building and disseminates best practices for investment readiness of intermediaries, especially first time local fund managers, and provides business and technical training of tech-enabled start-ups and early-stage enterprises. By directly strengthening the human capacities, performance, networks and visibility of the Boost portfolio, the program also supports the establishment of a robust venture network across sub-Sahara Africa to support the growth and sustainability of early-stage enterprises, and enhancing employment opportunities for youth and women. 

What the project has achieved so far / intends to achieve:

Since its start, the Boost Africa Technical Assistance Facility has: 

  • Worked in 5 fund managers and 20 of their investee companies in over 80 assignments 
  • Offered support in a wide range of areas, including financial modelling, market expansion, women empowerment, and governance for funds and start-ups 
  • Organised two editions of the peer-to-peer learning programme on Venture Capital in Africa together with Said Business School, bringing together 82 African fund managers representing 25 major venture capital funds in the continent  
  • By the end of the programme, Boost Africa Technical Assistance facility will have increased job creation, not only directly in the portfolio enterprises, but also in the wider value chain 

 

*information as of December 2023 

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