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Start-up companies in three W/African countries get €5 million

Investors & Partners (I&P) and the United States Agency for International Development (USAID) plan to raise €5 million for an innovative acceleration programme for start-ups in Niger, Burkina Faso and Senegal, APA learned in Ouagadougou.Nearly €5 million is expected to be raised in debt and equity from funds, banks and business ventures over the period for young SMEs which need between €30,000 and €300,000.

The partnership will support start-ups and small and medium-sized enterprises with a high potential, and it is to facilitate access to finance for 52 SMEs over the next three years.

The programme provides seed capital in the form of interest-free repayable loans and personalized business support by teams of three I&P-sponsored funds.

USAID is supporting the programme through the Partnering to Accelerate Entrepreneurship (PACE) initiative, which aims to guide private-sector investment flows to enterprises by creating and identifying innovative and sustainable models of support for these enterprises.

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