The European Bank for Reconstruction and Development (EBRD) and the African Development Bank (AfDB) have announced the establishment of a Task Force for Entrepreneurship and Job Creation in Tunisia, Morocco and Egypt. This is a joint task force to encourage entrepreneurship and stimulate job creation and growth in these three countries, according to an EBRD press release.
The official launch of the Task Force took place yesterday, September 21, 2023, during a workshop at the AfDB’s North Africa Regional Office in Tunis.
This joint Task Force on entrepreneurship and very small, small and medium-sized enterprises (VSSMEs), with an impact on employment in North Africa, will act within the framework of the Partnership Agreement signed by the EBRD and the AfDB in May 2021. It will ensure that the two institutions jointly identify and implement innovative and operational initiatives to address the challenges facing the development of MSMEs.
Initiatives include the development of knowledge products and innovative solutions to inform and co-finance operations that promote the export capacity and growth potential of MSMEs.
This work will focus on supporting the emergence of startups, women- and youth-led enterprises, or operations that link the development of MSMEs and startups to regional and local value chains.
For its first joint activity, the Task Force announced support for a special cohort from Souk At-Tanmia in the EBRD’s “StarVenture” program. This initiative aims to identify high-potential start-ups and mobilize global expertise to support their operations and help them scale up.
To this end, five winners from Souk At-Tanmia Tunisia presented their business ideas at a pitching session. Two finalists will be selected and will benefit from EBRD support, including access to mentoring, technical and strategic advice from mentors and experts with solid and recognized experience in the field of entrepreneurship. This assistance will last 18 months and will enable the young companies to develop their activities and access international markets.