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Telecoms company Orange has announced the launch of a new programme dedicated to helping African entrepreneurs achieve their goals.
The Orange Digital Ventures Africa programme will serve as Orange’s investment vehicle and is committing €50-million to invest in startups which will account for half of the direct investments made by the flagship programme. The other half will be devoted to “indirect investments through specialised funding”.
A team will be set up in Dakar in September for the Ventures programme to be able to assist applicants.
Pierre Louette, deputy CEO of Orange and Chairman of Orange Digital Ventures commented on the new initiative in a press release.
“Since the beginning of Orange Digital Ventures, the new services and business models in Africa have been one of the priority investment themes of our corporate venture business.”
The Ventures programme aims to help out those in early-stage projects in sectors including, fintech, Internet of Things (IoT), energy and ehealth.
Orange has deemed Africa as a priority investment theme for the company
Though the programme is open to those situated in Africa, Orange has also extended the invitation to startups around the world which have a focus on solving African issues.
The programme will also support other Orange innovation initiatives including the Orange Fab hubs in Côte d’Ivoire, Cameroon and Senegal and BIG accelerator in Jordan.
“With this announcement, we are engaging a bit further alongside the African digital ecosystem, which like everywhere else and maybe even more than elsewhere carries with it a development challenge,” said Louette.
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