The African Development Bank and Algeria’s Ministry of Knowledge Economy, Startups, and Micro-Enterprises have reaffirmed their commitment to strengthening collaboration to accelerate the growth of startups and small and medium-sized enterprises (SMEs) across Africa. The announcement came at the close of the fourth edition of the Intra-African Trade Fair (IATF 2025), held in Algiers from 4 to 10 September. Ousmane Fall, Acting Director of the Bank’s Industrial and Trade Development Department, highlighted the Bank’s pivotal role in mobilizing capital for African businesses. He emphasized that supporting SMEs and startups remains a core priority under the leadership of the Bank’s new President, Dr. Sidi Ould Tah, and noted that efforts will combine innovative financing instruments, advisory services, and policy reforms to spur their development.
Ahead of its meeting with Minister Noureddine Ouadah, the Bank’s delegation engaged with Algeria Venture, the country’s public startup accelerator, to discuss expanding collaboration. Both sides agreed to foster exchanges with Algerian startup support funds as well as private equity and venture capital firms. They also confirmed their participation in the African Startup Conference, scheduled to take place in Algiers from 6 to 9 December 2025, which will serve as a key platform for promoting innovation, building networks, and mobilizing investment. At the closing of IATF 2025, Minister Ouadah announced the creation of a new investment fund for African startups, initiated by President Abdelmadjid Tebboune, signaling Algeria’s strong commitment to youth and innovation as drivers of economic growth.
The Bank also highlighted its support for high-impact African enterprises through its Non-Sovereign Operations team, which showcased financing solutions for the private sector and explored new partnerships. In discussions with Solewant Group, a Nigerian company specializing in steel and coatings, Bank officials underscored their focus on backing transformative, growth-oriented businesses that advance industrialization and self-reliance across the continent.
In addition, the Bank actively participated in knowledge-sharing sessions during the fair. It contributed to discussions co-organized by UNDP’s Timbuktoo initiative and the African Union on creating an enabling startup ecosystem, as well as a session hosted by Afreximbank’s African Research and Innovation Centre. These events provided a platform to present the Bank’s Innovation and Entrepreneurship Lab and its ENNOVA platform, which helps entrepreneurs scale their businesses and access new markets.
As the IATF Advisory Council announced that Nigeria will host the fifth edition of the fair in Lagos in 2027, the African Development Bank reaffirmed its commitment to advancing trade, innovation, and entrepreneurship as essential pillars of inclusive growth and industrial transformation in Africa.
