IFC, partner of the European Union to strengthen business incubators and entrepreneurs in Angola


Luanda, Angola, November 11, 2021-A new partnership between IFC and the European Union will support the growth and expansion of start-ups and entrepreneurs in Angola by providing them with better access to training, markets and a range of other development services, supporting job creation in the country.

Through this partnership, IFC and the EU will strengthen the capacities of existing fintech and digital technology incubators in Angola, helping them to serve more entrepreneurs with tailor-made training and support services. The partnership will also establish an agriculture-focused incubator to support the growth of entrepreneurs engaged in the Angolan broiler or chicken farming sector.

IFC and the EU will also help the Angolan government develop a more favorable legal and regulatory framework for startups and entrepreneurs, removing political barriers that slow their growth and creating an entrepreneurial environment.

The goal of this five-year project is to feed Angolan entrepreneurs and connect them to markets and finance.

“The project will be a fundamental step for the establishment of constructive partnerships between different actors which will stimulate the creation of decent jobs for all”, declared Jeannette Seppen, Ambassador of the European Union in Angola.

“Entrepreneurs and start-ups are important pillars of the digital and fintech sectors, although they often do not have access to the training and other services they need to grow,” said Sérgio Pimenta, IFC vice president for Africa. “Through this initiative, which strengthens our partnership with the European Union in the region, we will address many of the obstacles Angolan entrepreneurs face and help them access finance, grow and create jobs, thereby contributing to development. long term of Angola. ”

As part of its work with Angolan incubators, IFC will assess Angola’s investment climate and business development challenges and opportunities and make recommendations on how best to support entrepreneurs.

As part of the partnership, the EU will provide IFC with EUR 4.8 million to enable IFC to provide advisory services to the Angolan government and the country’s incubators.

About IFC

IFC, a member of the World Bank Group, is the world’s largest private sector-focused development institution in emerging markets. We work in over 100 countries, using our capital, expertise and influence to create markets and opportunities in developing countries. In FY2021, IFC committed a record $ 31.5 billion to private businesses and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.

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