The IFC has handpicked 100 companies to take part in its Next 100 Startups initiative programme.
Majority of the startups selected for this programmes are currently working in the fintech field, agribusiness and e commerce enterprises. 69% of the companies selected were founded by men and the remaining by women.
“Africa is brimming with entrepreneurs whose drive and creativity have the potential to transform the industries in which they work,” said Philippe Le Houérou, the IFC’s chief executive officer. “With the right support, African startups can help create the high-quality jobs that are so urgently needed while reducing poverty and finding solutions to some of the continent’s most urgent challenges.”
The selected companies are:
About Next 100 African Start-ups Initiative
The Next 100 African Startups Initiative is a program, launched in partnership between the Egyptian Ministry of Investment and International Cooperation (MIIC) and the International Finance Corporation (IFC), which will select up to 100 promising African start-ups to participate in the Africa 2018 Forum in Sharm El-Sheikh on December 8-10. Selected startups will be given the opportunity to connect with international investors and financial institutions, government officials, and policymakers from the African continent.
The initiative’s aim is to unlock the region’s entrepreneurial potential by showcasing Africa’s best and brightest entrepreneurs and start-ups, and creating markets for early stage businesses. The program targets Africa-based startups that have already demonstrated some level of success, either by generating revenue or by developing a working prototype. The selected startups and entrepreneurs will have the opportunity to network with, and be connected to, top business and political leaders. This programme is uniquely designed that connects startups with potential investors.
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused exclusively on the private sector in developing countries.