More Africa NewsMorocco: AfDB and Inwi seal a partnership to support innovative start-ups and stimulate economic recovery

March 1, 2021by myles0

As part of the “Souk At-Tanmia” program, the African Development Bank and the Moroccan digital operator Inwi signed today a partnership agreement to support innovative start-ups in the digital sector. A ceremony was held on the sidelines of the 9 th edition of the “inwiDays” flagship event of the digital scene in Morocco.

Launched in 2019 with funding from the Dano-Arab Partnership Program (DAPP), the Souk At-Tanmia initiative supports project leaders with technical and financial support. The objective is to support very small and medium-sized enterprises (VSEs) as well as cooperatives operating in the three regions of Guelmim ‑ Oued-Noun, Daraâ ‑ Tafilet and Tanger ‑ Tétouan ‑ Al Hoceima.

In a context marked by the Covid-19 pandemic, this partnership will help start-ups developing innovative digital solutions to take advantage of the new opportunities offered by the crisis and to create jobs.

“  Support for entrepreneurship and innovation is at the heart of the African Development Bank’s priorities. Thanks to the synergies between our two institutions, we will be able to further strengthen our support for young entrepreneurs, which is crucial in the current context of crisis,  ”said Mohamed El Azizi, Managing Director of the African Development Bank for North Africa. .

In the implementation of this partnership, the project leaders selected by Souk At-Tanmia will benefit from targeted training, support for the creation and development of their start-ups and funding in the form of donations of up to 30% of the amount of the investment. For its part, Inwi will participate in the candidate selection committees, support a selection of entrepreneurs in the development of their business model and support the program’s dissemination campaign among start-ups.

Souk At-Tanmia is a program that mobilizes local actors, incubators and public institutions for public-private-NGO partnerships. These cooperation models aim to inspire, at the local level, the development of a dynamic of integrated support with, ultimately, the deployment of regional platforms for the coordination of the entrepreneurial ecosystem.

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Source: Agence Eecofin

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