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Orange will Invest $56m in African Startups through its Digital Ventures Program

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Orange will Invest $56m in African Startups through its Digital Ventures Program

Orange has created a new Africa section in its program for investment in start-ups, Orange Digital Ventures. As part of this initiative, the Group is committing 50 million euros ($56 million) corresponding to half of the direct investments made via its new Orange Digital Ventures Africa programme; the other half is devoted to indirect investments through specialised funding for Africa.

Orange Digital Ventures Africa is the Group’s investment vehicle for early-stage innovation projects in Africa in areas such as new connectivities, fintech, the Internet of Things(IoT), energy and e-health. The objective is to target start-ups offering responses to Africa’s fundamental challenges while leveraging the operator’s assets on the continent. This support will concern all innovative start-ups, whether they are based geographically in Africa or they address African issues from another continent.

A dedicated team based in Dakar will be set up in September for the programme in order to respond to the start-ups’ need for responsiveness and simplicity.

Start-ups interested in this can find out more about the programme here.

 

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