France announces €1 billion support for African Small and Medium Sized Enterprises

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France has announced a €1 billion support programme for Small and Medium-sized Enterprises (SMEs) and start-ups in Africa via Proparco, a French development agency.

The support was announced by French President Emmanuel Macron, during his tour to some Eastern African countries this week.

Although there are no details about the sectors in which the investments would be made, the announcement is in fulfilment of a pledge made by President Macron during his first visit to Africa last year.

Overall, France via its president promised financial and technical support estimated at $2.8 billion for African startups and SMEs.

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