The African Development Bank (AfDB) and Algeria’s Ministry of Knowledge Economy, Startups, and Micro-Enterprises have committed to enhancing their partnership to accelerate the development of startups and small and medium-sized enterprises (SMEs) across Africa.
During the fourth edition of the Intra-African Trade Fair (IATF 2025), held in Algiers from September 4 to 10, Ousmane Fall, Acting Director of the Bank’s Industrial and Trade Development Department, emphasized the Bank’s crucial role in mobilizing capital for African businesses.
Before meeting with Minister Noureddine Ouadah, the AfDB delegation held a working session with Algeria Venture, the country’s public startup accelerator. Both parties agreed to strengthen their collaboration, including exchanges with Algerian startup support funds and leading private equity and venture capital funds. They also confirmed their joint participation in the African Startup Conference, scheduled to take place in Algiers from December 6 to 9, 2025. This event will serve as a platform to promote innovation, foster networks, and attract investment.
At the close of IATF 2025, Minister Ouadah announced the creation of a new investment fund dedicated to African startups—an initiative launched by Algerian President Abdelmadjid Tebboune. This move underscores Algeria’s commitment to prioritizing youth and innovation in Africa's economic future.
The Bank’s Non-Sovereign Operations team also presented financing solutions for the private sector and explored new strategic partnerships. Meetings with companies like Solewant Group, a Nigerian leader in steel and coatings, demonstrated the Bank’s focus on supporting high-impact African enterprises.
Additionally, the Bank shared its expertise through key sessions at the IATF, including one co-organized by the UNDP’s Timbuktoo initiative and the African Union on "Building an Enabling Startup Ecosystem." The Bank also participated in a session hosted by Afreximbank’s African Research and Innovation Centre. These exchanges highlighted the Bank’s Innovation and Entrepreneurship Lab and its flagship ENNOVA platform, which helps entrepreneurs scale their businesses and access new opportunities.
As the IATF Advisory Council, of which the African Development Bank is a member, announced that Nigeria will host the fifth edition of the fair in Lagos in 2027, the Bank reiterated its commitment to making trade, innovation, and entrepreneurship key drivers of inclusive growth and industrial transformation across Africa.