African Development Bank Group (AfDB) has approved an investment of $8.6 million in Brega Africa seed fundTargeting early stage technology startups across the continent.
The investment includes $5.7 million and $2.87 million in equity junior tranche Provided by the European Commission under the Boost Africa initiative, which aims to support innovative young entrepreneurs.
Briga Africa seed fund Will support startups in key sectors including fintech, insurtech, agritech, healthtech, logistics, edtech, climate tech as well as diversity and inclusion-focused enterprises. Its goal is to expand access to essential services such as health care, finance and education in disadvantaged communities.
Geographically, Briga Africa seed fund The focus will be on five key African startup hubs: Nigeria, South Africa, Kenya, Egypt and Francophone Africa.
This initiative is in line with AfDB's strategic priorities, particularly in mobilizing financial resources for Africa's private sector, supporting job creation – particularly for women and youth – and strengthening climate resilience through investments in climate technology and agritech.
