Tech in Africa
GIZ has launched a $120 million funding programme – VC University – in a cooperation between Germany’s international development agency, GIZ, Egypt’s Micro, Small and Medium Enterprises Development Agency, Changelabs, and Endure Capital.
GIZ has been operational in Egypt since 1956. From working at their Cairo office, the body works with the German Federal Ministry for Economic Cooperation and Development in the implementation of projects on behalf of German ministries, EU, and other international organizations.
VC University will run for a year and give first-time fund managers cash, mentorship, and access to investors. Technical assistance will be provided by MSMEDA.
GIZ Egypt is working on the details of the VC University programme as part of its “Access to Financial Services for Small and Medium Enterprises” project, done in collaboration with the Financial Regulatory Authority (FRA).
Source article at Wamda
