AfricArena and FMO, the Dutch Entrepreneurial Development Bank, have announced the expansion of their partnership through the FMO Ventures programme, aimed at providing enhanced support to Africa’s rapidly growing tech ecosystem.
Building on their collaboration in 2022 during AfricArena’s tour across the continent, this extended partnership is set to bolster Africa’s tech industry through a series of events spanning from August 2023 to December 2024.
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The events that the FMO Ventures programe will be supporting include the AfricArena VC Unconference, the AfricArena Founders’ Bootcamp, the AfricArena Learning Expedition, and the flagship event, the AfricArena Summit. These initiatives are expected to contribute significantly to the development of the African venture capital industry and the broader tech sector.
AfricArena CEO, Christophe Viarnaud, expressed his enthusiasm for the partnership, stating, “We are very excited about this expanded partnership which supports the ecosystem development of AfricArena through its well-known events across Africa.”
He emphasised that this collaboration will not only bolster the African venture capital industry but also support the development of open-source investment tools for the tech industry in Africa.
According to a recent Statista report, Africa boasts more than 640 tech hubs, acting as the backbone of its rapidly growing tech ecosystem. Investors from within Africa and around the world are increasingly drawn to the continent’s tech start-ups. Over the past few years, there has been a remarkable surge in interest from various types of investors, signalling a sustained enthusiasm for the opportunities presented by Africa’s tech scene.
Marieke Roestenberg, the FMO Ventures programme manager, highlighted the exciting prospects that Africa’s tech start-ups bring to the investment landscape. She noted, “It is a thrilling time for investors to be looking at Africa as an investment destination, as many of the continent’s tech start-ups are coming forward with investment-worthy innovative solutions for global challenges.”
The renewed partnership between AfricArena and FMO aligns with the broader strategy of the FMO Ventures Program to nurture entrepreneurial tech ecosystems across Africa. By facilitating collaboration between tech start-ups, investors, and corporations, the partnership aims to foster co-investment and cooperation that ultimately benefits underserved communities on the continent.
The partnership was initially announced by Robert Haynie, FMO Ventures ecosystem building lead, at last year’s Viva AfricArena Summit in Paris, France. The relationship between AfricArena and FMO Ventures seeks to further bolster Africa’s tech and venture capital landscape, providing the necessary support for sustainable growth.