Young African companies continue to have the wind in their sails. 136 entrepreneurs have been supported over the past 36 months by DiafrikInvest. But beyond the issue of support, it is a whole lasting network that must be built on both sides of the Mediterranean.
An international acceleration program is never easy to set up because you have to educate both entrepreneurs and investors. “50 funders were connected to the investment projects,” said Emmanuel Noutary, general delegate within the Anima investment network. And with nearly one million euros in investment pledges, the DiafrikInvest project has mobilized skills and developed productive investment between the continent and the diasporas. “Our network has worked in close collaboration with the CJD Senegal, Conect (Tunisia) and StartUp Morocco,” says one within the Anima network responsible for piloting this program, 90% funded by the European Union. According to the Directorate-General for Development and Cooperation, this project, with a budget of 2.2 million euros, has made it possible to support around 40 projects carried out by local entrepreneurs in connection with business angels.
Through this initiative, the message is clear. We must bring together project leaders and investors from the African continent and its diasporas. And it must be said that the stakes in this matter are considerable. According to information cross-checked from various African embassies, there are almost 5,000 diaspora associations in France alone. The African diasporic fabric is therefore very sparse. “Our objective project with DiafrikInvest was first to create a network between African entrepreneurs and those in the diaspora. This promotes international support for companies “, explains one within the Anima network. It also promotes mentoring which is very popular with diasporas wishing to invest on the continent. “We have attracted many talents from the diasporas to African entrepreneurial projects. It also allowed for an exchange of experiences on both sides “, we analyze within the network. Beyond the reinforcement that this constitutes for companies, the objective of this type of network is also to create a structuring impact by promoting the coordination of economic players.
The field at the heart of South-North relations
If these networks can make themselves effective, it is because they can count on solidly established networks. It is in this spirit that StartUp Morocco has set up a dedicated platform in the Cherifian kingdom to identify the talents and skills of the Moroccan diaspora installed in Europe for coaching sections. Emphasis is also placed on the exchange of expertise. Launched in September 2020, it aims to sustain the impact of the mentoring activities deployed under the program and access funding through the advice of mentors, Business Angels experts and local and diaspora trust networks. While Morocco is at the forefront on this subject, other initiatives have been implemented in other countries, particularly in Tunisia and Senegal. And it was in the kingdom of Carthage that the Financini platform was able to emerge thanks to the initiative of the Conect. Financini identifies all the funding opportunities in terms of supporting entrepreneurship: public and private funds, endowments, competitions, etc. This platform now lists 200 funding and support mechanisms covering 16 sector categories. The objective is to guide the project leader at each stage of his business creation, and to identify funding possibilities.
Finally, among the sub-Saharan countries, the Teranga country is very committed to this subject with the Entreprendre platform in Senegal. Launched by CJD Senegal, it also serves as a discussion circle on the capacities of institutional, financial and development actors in the field of entrepreneurship in the diaspora. But above all, it facilitates putting entrepreneurs or investors from the diaspora in contact with the competent support structures. Officially launched in October 2019, it offers a mapping of existing systems and allows discussion on local practices, deepening information and knowing the news relating to entrepreneurial subjects. It is these synergies between the North and the South that could further boost cultural and economic exchanges in the coming years.
