Janngo, the private equity firm based in Abidjan, Côte d'Ivoire, announced its first closing of 34 million euros in capital commitments. The fund is supported by global financial institutions as well as leading private companies.

Janngo's investment strategy will be to support startups that enable Africans to improve their access to essential goods and services and to small and medium-sized businesses businesses of the continent, with a particular focus on women and young people. According to Janngo's statement, African women are the most enterprising in the world, with a total entrepreneurial activity rate of 26%. However, they face a funding gap of more than 40 billion euros and have very limited access to growth capital.

By devoting half of its resources to women-led businesses through this fund, Janngo aims to work to improve access to d& capital Eacute; share for tech entrepreneurs in a more equitable way, on a continent. The funding to be allocated will vary “between 50,000 and 5 million euros”, explains Fatoumata Bâ.