AfDB, Algeria partner to boost African startups

The African Development Bank (AfDB) and Algeria’s Ministry of Knowledge Economy, Startups, and Micro-Enterprises have agreed to deepen cooperation to accelerate the growth of startups and small and medium-sized enterprises (SMEs) across Africa

The announcement came at the close of the fourth edition of the Intra-African Trade Fair (IATF 2025), hosted in Algiers from 4 to 10 September. Leading the Bank’s delegation, Ousmane Fall, Acting Director of the Industrial and Trade Development Department, highlighted the AfDB’s central role in unlocking finance for African businesses. “Supporting small and medium-sized enterprises and startups is one of the key pillars of our work, as defined in the Four Cardinal Points of the Bank group’s new president, Dr Sidi Ould Tah,” said Fall. He added, “The Bank will support SMEs through an innovative approach that combines new financing instruments, advisory services, and policy reforms to promote their emergence across the continent.”

Strengthening private sector engagement

Ahead of discussions with Minister Noureddine Ouadah, the Bank delegation met with Algeria Venture, the state-backed startup accelerator. Both sides agreed to enhance cooperation, particularly by linking Algerian startup funding mechanisms with leading private equity and venture capital funds. They also confirmed plans to jointly take part in the African Startup Conference, scheduled in Algiers from 6 to 9 December 2025, which aims to promote innovation, strengthen networks, and attract investment on a continental scale.

Closing IATF 2025, Minister Ouadah announced the launch of a new investment fund for African startups, an initiative championed by Algerian President Abdelmadjid Tebboune, underlining Algeria’s commitment to prioritising youth and innovation in shaping Africa’s economic future.

The AfDB’s Non-Sovereign Operations team also presented financing solutions for the private sector while pursuing new strategic collaborations. Engagements with firms such as Solewant Group, a Nigerian steel and coatings leader, illustrated the Bank’s interest in high-impact African companies.

Showcasing innovation and entrepreneurship

The AfDB further contributed to several IATF sessions, including one organised with UNDP’s Timbuktoo initiative and the African Union on “Building an Enabling Startup Ecosystem,” as well as a discussion hosted by Afreximbank’s African Research and Innovation Centre. These platforms enabled the Bank to highlight its Innovation and Entrepreneurship Lab and its flagship ENNOVA programme, which helps entrepreneurs expand their operations and access new opportunities.

The IATF Advisory Council, in which the Bank is an active participant, announced that Lagos, Nigeria, will host the fifth edition of the fair in 2027. Reaffirming its commitment, the AfDB stressed that trade, entrepreneurship, and innovation remain central to driving inclusive growth and industrial transformation across the continent.