EIB Boost Africa channels €108m into early-stage enterprises across Sub-Saharan Africa
The European Investment Bank's Boost Africa program has deployed €108 million to startups in the region, attracting nearly €400 million in private capital and creating roughly 15,000 jobs. European Union Ambassador Gautier Mignot confirmed these figures during a briefing in Abuja.
The European Investment Bank (EIB) Boost Africa initiative has distributed €108 million to innovative early-stage enterprises across Sub-Saharan Africa over the past decade. During a media briefing in Abuja on Wednesday, European Union Ambassador to Nigeria and ECOWAS Gautier Mignot revealed these statistics. The program also attracted nearly €400 million in additional private investment and generated approximately 15,000 jobs. Mignot noted that the initiative extends beyond capital injection to build foundational infrastructure for startups. He cited the continent's youth population as a primary driver for strengthening local value chains and fostering economic stability. Launched in 2016 by the EIB and the African Development Bank, the program addresses a severe deficit of early-stage venture funding. EIB Country Relationship Manager for Nigeria Moussa Nkoulima explained that the program combines direct capital investment with technical assistance and structured ecosystem development.
