Grace Ashiru
AfricArena and FMO, the Dutch Entrepreneurial Development Bank, are strengthening their alliance with the expansion of the FMO Ventures program, designed to nurture Africa’s burgeoning tech scene further.
After successfully collaborating in 2022 during AfricArena’s continental tour, the renewed partnership aims to amplify the growth of the African tech sector through a series of initiatives from August 2023 to December 2024.
The FMO Ventures program will support the AfricArena VC Unconference, AfricArena Founders’ Bootcamp, AfricArena Learning Expedition, and the marquee AfricArena Summit. These endeavors are poised to notably impact the African venture capital landscape and the broader tech industry.
AfricArena’s Chief Executive, Christophe Viarnaud, shared his excitement about the strengthened partnership, remarking, “This extended alliance with FMO fortifies AfricArena’s ecosystem through our signature events spread across the continent.”
He underscored the importance of this alliance, noting it will not only enhance the African venture capital scene but also foster the creation of open-source investment instruments for Africa’s tech sector.
A recent report from Statista highlights that Africa is home to over 640 tech hubs, serving as pillars for its swiftly expanding tech landscape. Both domestic and international investors are becoming increasingly captivated by African tech startups. In recent years, there’s been a notable uptick in investor interest, indicative of a continued appetite for Africa’s tech scene’s potential.
FMO Ventures program manager Marieke Roestenberg emphasized the promising opportunities Africa’s tech startups presented in the investment arena. She remarked, “There’s a growing buzz for investors eyeing Africa, as many of its tech startups are showcasing innovative, investable solutions to global issues.”
The deepening ties between AfricArena and FMO mirror the overarching mission of FMO Ventures to cultivate thriving tech hubs throughout Africa. This alliance is crafted to enhance interactions among tech startups, financiers, and corporate entities, thereby championing co-investment and collaboration, ultimately uplifting marginalized communities in the region.
Robert Haynie, the ecosystem-building lead for FMO Ventures, had initially introduced this partnership at the Viva AfricArena Summit in Paris, France, the previous year. The bond between AfricArena and FMO Ventures is geared towards reinforcing Africa’s tech and venture capital sectors, ensuring they have the right backing for enduring expansion.
