By Ayomide Otitoju
The African Development Bank Group (AfDB) has approved a €6.5 million investment in the Saviu II fund to support technology start-ups during their seed stage and first institutional fundraising, with a focus on French-speaking Central and West Africa.
Under the plan, AfDB will commit €4.5 million as equity and €2 million as a first-loss tranche on behalf of the European Commission through the Boost Africa Programme. The investment will prioritise companies with strong technological or digital components.
Saviu II, the second fund launched by Saviu Partners, intends to invest between €500,000 and €3 million in approximately 20 technology or technology-oriented B2B start-ups at the seed phase or undergoing first institutional fundraising.
The fund aims to allocate at least 60% of its commitments to French-speaking countries in West and Central Africa, including Côte d’Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso, and Mali. It may also co-invest in promising East African tech start-ups with strong teams and scalable business models that include market entry into French-speaking West Africa.
Additionally, Saviu II will dedicate a portion of its capital to pre-seed investments, focusing on minority equity stakes, often in partnership with incubators, studios, or other ecosystem actors.
