Operational Working Group: Fundraising by Startups in Cameroon

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Operational Working Group: Fundraising by Startups in Cameroon

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Fundraising by Startups in Cameroon

Date: April 17, 2024
Time: 10:00 am (GMT+1)
Venue: Mansel Hotel, Yaoundé

 

Background

Cameroon has a thriving startup ecosystem, with a growing number of young startups eager to launch and expand their businesses. Known for their huge growth potential, these entities usually require heavy investments that cannot be solely mobilized by startups. However, access to finance remains a major challenge for many of these early-stage structures. They are actively seeking ways to raise funds to support their growth. Although a variety of funding opportunities exist, navigating the fundraising landscape is overwhelming for startups. In 2021, only 15% of Cameroonian startups had access to formal funding options, while the majority relied on personal savings or informal funding sources (Kabange, 2021). According to the Central African Startup Finance Report 2022, funds raised in 2022 by startups in Cameroon remained stable year-on-year at 7.3 billion francs CFA ($12 million). In 2023, the Africa platform’s report showing the breakdown by country of funds raised by young African startups revealed that Cameroon attracted fewer investors, raising just $4 million, far behind Côte d’Ivoire ($17 million), Senegal ($44 million), Benin ($71 million), South Africa ($410 million), Egypt ($640 million), and Kenya ($88 million). Limited access to capital hinders startups’ potential to innovate, create jobs, and contribute to economic growth. With this in mind, the Nkafu Policy Institute of the Denis & Lenora Foretia Foundation is organizing an operational working group on “Fundraising by Startups in Cameroon.” 

Objectives

The primary objective of the operational working group is to examine the fundraising challenges faced by startups in Cameroon and shed light on how they can leverage available opportunities to improve access to finance, foster public-private partnerships, and ultimately shape the future of startups in Cameroon. Specifically, it aims to:

  • Identify the fundraising constraints of startups in Cameroon.
  • Develop strategies for Cameroonian startups to easily raise funds.
  • Explore the potential of public and private entities to support startup fundraising.
  • Investigate the possibility of establishing a startup fund to provide seed capital and support to early-stage startups in Cameroon.

Expected Outcomes

Increased fundraising capacities of startups in Cameroon. 

Target audience

This event is open to policymakers, startup founders and entrepreneurs, investors, academics and researchers.

Contact details

Email: [email protected] / Tel: (+237) 654 86 72 54

The event is finished.

Date

Apr 17 2024
Expired!

Time

10:00 AM - 12:00 PM

Location

Mansel Hotel
Quartier Fouda Yaoundé, Cameroon
Nkafu Policy Institute

Organizer

Nkafu Policy Institute
Phone
+237 654 86 72 54
Email
[email protected]
Website
https://nkafu.org/

Catalyzing Africa’s Economic Transformation

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