The African Development Bank (AfDB) and Algeria’s Ministry of Knowledge Economy, Startups, and Micro-Enterprises have pledged to deepen cooperation to accelerate the growth of startups and small and medium-sized enterprises (SMEs) on the continent.
The announcement came at the close of the fourth Intra-African Trade Fair (IATF 2025), held in Algiers from September 4–10, where AfDB officials and Algerian authorities outlined new joint initiatives.
“Supporting small and medium-sized enterprises and startups is one of the key pillars of our work, as defined in the Four Cardinal Points of the Bank Group’s new President, Dr. Sidi Ould Tah,” said Ousmane Fall, Acting Director of the Bank’s Industrial and Trade Development Department. “The Bank will support SMEs through an innovative approach that combines new financing instruments, advisory services, and policy reforms to promote their emergence across the continent.”
Expanding Private Sector Partnerships
Ahead of their meeting with Minister Noureddine Ouadah, AfDB officials held discussions with Algeria Venture, the public startup accelerator, where both parties agreed to strengthen collaboration with Algerian startup support funds and leading private equity and venture capital firms. They also confirmed joint participation in the African Startup Conference, to be hosted in Algiers from December 6–9, 2025.
Closing the fair, Minister Ouadah announced the creation of a new investment fund dedicated to African startups, an initiative of Algerian President Abdelmadjid Tebboune. He said the move underscored Algeria’s commitment to making youth and innovation central to Africa’s economic transformation.
AfDB’s Non-Sovereign Operations team also used the fair to present financing options for private enterprises and explore strategic partnerships. Nigerian firm Solewant Group, a steel and coatings company, was highlighted as an example of the type of business the Bank aims to support.
“Solewant perfectly illustrates the type of transformative business the Bank seeks to support: African-led, growth-oriented, and committed to building a more industrialized and self-reliant continent,” said Cédric Achille Mbeng Mezui, Lead for Private Sector Investment Operations at AfDB.
Driving Innovation and Entrepreneurship
The AfDB also showcased its Innovation and Entrepreneurship Lab and ENNOVA platform during sessions co-hosted with UNDP’s Timbuktoo initiative, the African Union, and Afreximbank’s African Research and Innovation Centre. These sessions emphasized building ecosystems that allow startups to scale and access new markets.
As the IATF Advisory Council announced Lagos, Nigeria, as the host city for the fifth edition of the fair in 2027, the AfDB reiterated its commitment to making trade, entrepreneurship, and innovation key drivers of inclusive growth and industrialization across Africa.
