African Development Bank invests $8.3M in Breega seed fund to boost tech start-ups across continent

The African Development Bank Group has announced a €7.5 million ($8.3M) investment in the Breega Africa Seed I Fund to accelerate early-stage African technology start-ups. The investment includes €5 million in equity and €2.5 million ins structured financing from the European Commission under its Boost Africa Initiative. Focusing on Nigeria, South Africa, Kenya, Egypt, and Francophone Africa, the fund targets finance, health, agriculture, climate, and education tech initiatives. The fund aims to create jobs—especially for women and youth—expand access to essential services, and foster sustainable, climate-resilient innovation across the continent.