Limited access to financing remains a critical hurdle for startups, especially in Africa and the Middle East. Bolstering these startups fosters innovation, creates jobs, and energizes the regional digital economy.

Orange Ventures, the investment arm of telecoms giant Orange Group, and Digital Africa, a pan-African initiative supporting early-stage businesses, joined forces on Thursday to co-invest in startups across the Orange Digital Centers (ODC) network in Africa and the Middle East.

The partnership, announced on the sidelines of the Vivatech technology fair in Paris, underscores both organizations' commitment to fostering innovation and growth within the region's burgeoning digital economy.

"Orange Digital Centers are true catalysts for innovation, where ideas take shape and dreams become reality," said Asma Ennaifer (pictured left), Executive Director of CSR, Communication, and the Orange Digital Center program for Orange Africa and the Middle East . "By joining forces with Orange Ventures and Digital Africa, we're giving African startups the means to thrive and make their mark in a rapidly expanding digital world."

This initiative builds upon a strategic agreement signed between Orange and Digital Africa in June 2023 to streamline financing and support for ODC network startups. Under the new collaboration, the partners can leverage Fuzé, an investment scheme implemented by Digital Africa, to potentially double the funding offered to individual startups through joint application review and co-investment.

This enhanced partnership marks a significant step towards bolstering support for African entrepreneurs within the ODC network. In its first year, the previous collaboration provided funding of up to €50,000 to five startups through the Fuzé program. With Orange Ventures now on board, the initiative is expected to empower a growing number of African entrepreneurs from the early stages of their ventures by offering comprehensive financial and strategic backing.

Samira Njoya