The governments of Tunisia and the Republic of Congo have signed a partnership agreement with Bamboo Capital partners to invest in tech-focused impact fund – BLOC Smart Africa. The pact was signed last weekend during the Afric’Up summit in Tunisia.
Afric’Up Summit is an offshoot of the African Head of State conference held earlier this year. The summit was created to support innovation, entrepreneurship, and the promotion of African talents globally. It is also the heart of the Smart Africa Alliance agenda, a Head of state alliance which seeks to support African Creativity and tech stories. Thus, the support shown by these countries is aimed at creating financial support for African youths.
The 2019 Afric’Up summit which was held during the weekend was tagged ‘Smart Cities and Open Innovation in Africas.
See also: Microsoft & Mastercard Partners to Fund CyberPeace Institute
The Smart Africa project CEO, Lucina Kone described the partnership with Bamboo Capital as the right step for Africa. She reiterated BLOC Smart Africa’s aim to identify and develop the next generation of Pan-African technology champions.
This, she noted can be achieved through the cooperation of the member state, partners and technology ecosystems. Lucinda is, however, hopeful that the partnership will yield results and equip young talent across the continent with tech knowledge while providing financial opportunities for startups.
Bamboo’s Capital Founder and Managing Partners, Jean Philippe de Schrevel also applauded the partnership. He said although Bamboo has been at the fore of impact-driven project which include investments in innovative solutions in Africa for over 10 years, the support of these countries will enable the company to do more.
Jean said the finance acquired from the partnership will be used to invest in tech-driven companies and startups that offer innovative services that can be used to tackle major social or environmental issues in Africa.
Other African countries have also indicated interest to support the Smart City cause. Some of which are Djibouti, Chad, and Burkina Faso.
More on TechGist Africa:
- Highlights of TechCabal’s Mobility Townhall; a glance at Africa’s Logistics Sector
- Google partners Australian DCP to Launch New Cloud Hub in Poland
- Dabchy, Tunis-based P2P Online Fashion Startup Raises $300 000 Seed Fund
- Amazon acquires Los Angeles-based INLT to Scale Importation for Merchants
- Facebook Suspends Thousands of third-party Apps over Privacy Investigation