Egypt and the International Finance Corporation (IFC) have collaborated to introduce the Next 100 African Start-ups – a new funding initiative to support budding tech entrepreneurs. In 2017 the North African country's ICT and Investment Cooperation Ministries launched the Fekretak Sherketak program to empower tech start-ups with funding, mentorship and training. Now the IFC and the Egyptian Ministry of Investment and International Cooperation are seeking to extend this support across Africa. It has also worked "alongside leading accelerators and venture funds like Wamda, Flat6Labs, and Algebra Ventures," it explained. Sérgio Pimenta, vice president at the IFC for Africa and the Middle East, "Supporting entrepreneurs is one of the best ways to drive innovation and create jobs in Africa.

Source: The North Africa Journal October 03, 2018 07:07 UTC