Monday, June 12, 2017

Digital Investment attracts 50m Euros to Africa

The Paris-based Orange telecom is strengthening corporate venture strategy by creating a new Africa section in its flagship programme for investment in start-ups, Orange Digital Ventures, reports ITRealms.

This is coming on the heels of a renewed commitment with the sum of 50 million euros devoted to indirect investments through specialised funding for Africa.

Confirming this to ITRealms, the Deputy Chief Executive Officer of Orange and Chairman of Orange Digital Ventures, Pierre Louette, noted that the latest investment corresponds to half of the direct investments made via its new Orange Digital Ventures Africa programme.

Louette also explained that the other half has been devoted to indirect investments through specialised funding for Africa.

The DCEO pointed out that Orange Digital Ventures Africa is the group’s investment vehicle for early-stage innovation projects in Africa in areas such as new connectivities, Financial Technology, the Internet of Things, energy and e-health to name but a few.

“The objective is to target start-ups offering responses to Africa’s fundamental challenges while leveraging the operator’s assets on the continent. This support will concern all innovative start-ups, whether they are based geographically in Africa or they address African issues from another continent,” Louette said.

Chuks Egbune/GEE

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