News from 2022-01-11 / KfW Development Bank
Promoting European start-ups for investment in Africa
On 11 January, the tech investment firm Partech launched "" - a support programme for European start-ups wanting to expand into African markets. On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW Development Bank is supporting Chapter54 with EUR 5 million. The goal: to promote growth and create jobs.
Africa has great potential: a wealth of resources, entrepreneurial spirit, innovative strengths and cultural diversity. Every second African state now counts as a "middle-income country" - despite some setbacks due to the pandemic. The population is also growing rapidly: by 2050, Africa's population will double. Already today, 40% of the population is under 15 years of age - and they are tech-savvy. By 2035, the continent will have the largest labour force in the world. 20 million new jobs will be needed per year.
The experience of European start-ups already active on the continent shows that a successful start in Africa requires market knowledge, local networks and access to skilled workers on the ground. This is exactly where Chapter54 comes in! It offers a curated network of currently around 50 mentors and advisors from the field. Companies from all sectors are welcome - but they must have business experience, be registered in a European country and active in two European countries, and have a solid financial foundation and regular income.
What questions will the consultancy deal with? Central certainly: how can operating models and go-to-market strategies be adapted to the local context? What are the legal framework conditions in the target country? How can I recruit qualified staff? How should products and services be adapted to the needs of local customers? Where can I best purchase consulting services?
Interested companies can find out more and get in touch on the "Chapter54" website. From 7 February they can apply - until 5 March. On 9 March, the selected start-ups will be announced and informed. And from April, the eight-month mentoring and advisory programme will begin for the ten selected "doers". It is planned that there will be another run every year.
Partech was founded in San Francisco and Paris and is one of the most active tech investors in the world. Providing capital, operational expertise and strategic support to start-up, venture and growth-stage entrepreneurs. Its current portfolio includes over 200 companies in more than 30 countries, 14 of which are valued at more than USD 1 billion. Partech also operates Partech Shaker, its innovation programmes division - they implement Chapter54.