The United Nations Development Programme and Okoume Capital sign a partnershp for the technical and financial support of 10 start-ups
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Libreville, 2 February 2023 - The United Nations Development Programme (UNDP) and Okoumé Capital are joining forces to support the development of local SMEs through the signing of a technical and financial partnership aimed at contributing to the establishment of an ecosystem conducive to private investment in the green economy and innovation.
This partnership is in line with theTransformation Acceleration Plan (PAT) adopted by the government to bring out new growth engines. Supported by the Ministry of Trade, Small and Medium Enterprises, in charge of national entrepreneurship and social economy and theMinistry of Youth and Sports, the initiative aims to support innovative projects of Gabonese start-ups with a positive impact in their geographical area and meeting the Sustainable Development Goals (SDGs) of the United Nations.
It is with this in mind that UNDP, through its Youth Connekt Gabon program, has chosen to turn to actors present in the sector whose mission is to supportSMEs to launch the Pilot Cohort: "Impact Entrepreneurs". The purpose of the program co-built with Okoumé Capital and the Digital Incubation Company of Gabon (SING) contributes to support the creation of a greater number of high-impact companies and the promotion of the local economy. In particular, it will boost the inclusion ofStart-Ups in the local ecosystem of financial institutions, fintech, corporate networks and business angels.
Since January 30, 2023, the winners have started an intensive 90 (ninety) day program. They benefit from workshops dedicated to budget and financial monitoring, account management, fundraising strategies, monitoring of receipts and disbursements organized by Okoumé Capital. Coaching, change management and eco-responsibility sessions led by SING are also reserved for them.
At the beginning of this project, 30(thirty) pre-selected Start-ups presented their activities to a jury composed of representatives of UNDP, Okoumé Capital and SING. Following file reviews, 10(ten) companies were selected according to:
· the relevance of the solution to green economy criteria;
· business model, viability and profitability potential;
· the consistency of the proposed solution with market needs;
· economic, social and/or environmental impact;
· the expertise of the team and the clarity of the presentation.
Note that the 10 Start-ups selected to participate in the Youth Connekt: Impact Entrepreneurs cohort come from cohorts supported by Okoumé Capital and SING and are as follows:
● Agrivert: agriculture and poultry farming;
● Cabalou : real estate rental;
● PharmaGabon: pharmaceutical;
● CaPay : fintech;
● Yoboresto: delivery service;
● Brendi Baby Food: infant food;
● Kanopee :beekeeping;
● Gstore Music: digital distribution;
● African Trotter: tourism;
● Recycling & Collection : waste recycling and energy recovery.
An initial amount of 110,000,000(One hundred and ten million) FCFA will be distributed equitably among the project leaders, who will receive a first contribution of 50%. The second tranche of the financing will be granted to them during the accompaniment, according to the indicators of monitoring the disbursements.
ABOUT THE UNITED NATIONS DEVELOPMENT PROGRAMME (UNDP)
UNDP Gabon is a United Nations development agency that works for the eradication of poverty, the reduction of inequalities, including gender inequalities, good governance and sustainable development. UNDP Gabon supports the government in the implementation of its development programs in line with the Emerging Gabon Strategic Plan (PSGE) and the Sustainable Development Goals (SDGs). One of UNDP's main actions in Gabon is to promote the acceleration and diversification of the sources of economic growth, in particular by encouraging socio-economic development and the empowerment of youth while fighting for the reduction of poverty and inequalities.
ABOUT OKOUME CAPITAL SA
Okoumé Capital SA, an entity of the Gabonese Sovereign Wealth Fund (FGIS), is a private equity company created to participate in the consolidation and diversification of the Gabonese economy through two levers: [1] the financing of national start-ups and growing companies through different types of investment (equity participation, loan to portfolio companies, etc.) [2]Supporting project leaders through a set of support services aimed at ensuring the viability and profitability of existing companies by helping them to structure themselves in order to become successful companies. For more information and to find the highlights of the program: okoumecapital.ga
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ABOUT THE GABON DIGITAL INCUBATION SOCIETY (SING)
SINGSA is an innovation service company, specialized in consulting and supporting startups, private companies and public administrations in their development projects and digital transformation processes. SING offers various service offerings around incubation, financing, consulting and IT development. Through its digital factory, SING supports its customers and partners in the development of innovative digital solutions. SING also offers its users the opportunity to provide suitable spaces for the organisation of workshops, conferences and other digital-related events. To date, SING has trained nearly 1700 people, supported 139 startups with a satisfaction rate of 85% and a survival rate of 76%. Startups supported by SING have raised 300,000,000 FCFA in funding since 2019. More information: sing.ga
ABOUT YOUTH CONNEKT
Youth Connekt is a youth empowerment program launched in 2012 by the Government of Rwanda through the Ministry of Youth and Technology in partnership with the United Nations DevelopmentProgramme. This program implemented with a "platform approach" aims to provide a comprehensive response to the many challenges facing youngAfricans by connecting them with their peers, with leaders and developing their skills while giving them access to finance and entrepreneurship.
This program, currently deployed throughout Africa, officially settled in Gabon in 2020, it is implemented byUNDP in co-supervision with the Ministry of Sports, Youth, in charge of associative life. Youth Connekt Gabon(YCG) proposes to implement a catalyst project aimed at formulating a vision for Gabonese youth, by co-designing and accelerating the creation of innovative local solutions, in order to reduce the gap between young people and opportunities for an autonomous economic environment and sustainable socio-economic transformation.
PRESSCONTACTS
Illuminating Inamahoro
Communication Manager
+241 076 50 31 83
belyse.inamahoro@undp.org
Aunel Loumba
Communication and Public Relations Manager
+241 076 29 25 12
aloumba@fgis-gabon.com