The Afric’innov Fund – Complete your offer for entrepreneurs

The Afric’innov Fund

Finance your entrepreneurs’ first steps

Context

Access to funding is a major issue for entrepreneurs, and conditions their success. Without financial means, how can you proove yourself? How can you develop a prototype?

Commercial banks and investors are often reluctant to give credit to a young startup that does not have a reputation yet, or has not developed a prototype.

On the African continent ,and in particular in sub-Saharan and French-speaking Africa, most countries do not have a strong grid of financing solutions for entrepreneurs : no guarantees, no public subsidies, no adapted financial products. Support structures for startups are developping, but adapted financial tools are not emerging as rapidly.

A turnkey solution  

  • A quick & easy implementation within your SAEI
  • The Afric’innov Kit with more than 30 documents to help all key stakeholders in the local Fund understand and play out their part
  • 10+ training documents to understand the issues at stake and the operationnal process of the Fund
  • Afric’innov mangement team : available for support at all time

Honor Loans are a specific type of credit with the following features:

  • Granted to a physical person
  • To finance a small amount
  • Zero percent interest rate
  • No guarantor, no surety needed

Honor Loans aim to provide startups with the necessary early stage financing deemed too risky by commercial banks. Although the amounts financed are generally small, benefiting from a Honor Loan can be a first step towards a regular banking credit, and even a capital investment, if properly repaid.

Honor Loans

The Fund

  • Tickets between 10 000 € (~ 6,5 millions CFA francs) and 30 000 € (~ 20 millions CFA francs)
  • Locally set up by an SAEI member of the Afric’innov community
  • Disbursed at one time, with a maximum repayment period of 36 months
  • And all other traditionnal features of Honor Loans!

The Afric’innov Fund is locally implemented by partner SAEI. Therefore, the loans are exclusively reserved for entrepreneurs incubated by these SAEI.

Currently, the Fund is operationnal within the following SAEI :

CTIC (Senegal) – CIPMEN (Niger) – La Fabrique (Burkina Faso) – Etrilabs (Benin) – Saboutech (Guinea) 

Who can be financed?