Investisseurs & Partenaires and the European Union launched today I&P Acceleration program in Sahel program, in which Teranga Capital is pleased to participate.
Deployed over four years, I&P Acceleration in Sahel is a support program aimed at start-ups and small and medium-sized companies in West Africa with one main objective: to give them access to financing and the skills they need to enable their development. This program is aimed at entrepreneurs in Senegal but also in 12 other countries of intervention: Benin, Burkina Faso, Cameroon, Côte d’Ivoire, Chad, Gambia, Ghana, Guinea, Mali, Mauritania, Niger, Senegal and Togo.
This is a hopeful program for Senegalese small businesses, which are often considered too young or too risky by “traditional” financial institutions (banks, investment funds, etc.) and thus have difficulty accessing the financing and skills they need to succeed in their development.
I&P Acceleration in Sahel is financed by the European Union through the Emergency Trust Fund (ETF), which allocates 10 billion FCFA (15.5 million euros) to strengthen the entrepreneurial ecosystem in the Sahel and Lake Chad region. In a context marked by the covid-19 crisis, a significant part of the budget is dedicated to supporting the most affected by the crisis companies.