STORY: EIB invests in venture capital fund Seedstars to empower African entrepreneurs
SHOOTING TIME: Jan. 10, 2024
DATELINE: Jan. 11, 2024
LENGTH: 00:02:17
LOCATION: Nairobi
CATEGORY: ECONOMY

SHOTLIST:
1. various of EIB logo
2. various of the signing ceremony
3. SOUNDBITE(English): EDWARD CLAESSEN, Head of Regional Hub for East Africa at the EIB
4. various of press conference
5. various of Nairobi street shots

STORYLINE:

The European Investment Bank (EIB) on Wednesday made a 30-million-U.S. dollar equity investment into Seedstars Africa Ventures, a venture capital fund to support African entrepreneurs to expand and boost creation in the continent.

Edward Claessen, the Head of Regional Hub for East Africa at the EIB told journalists in Nairobi, the capital of Kenya that innovative businesses and start-ups across Africa that solve social problems will benefit from better access to risk capital.

SOUNDBITE (English): EDWARD CLAESSEN, Head of Regional Hub for East Africa at the EIB
"It supports them to grow, to recruit talented people, and to expand both locally and in the wider region. They are creating real jobs, high-value jobs, quality jobs for the local population, and really supporting in that way the real economy here, which again, as we know, it's very useful at this point in time."

Maxime Bouan, a partner at Seedstars Africa Ventures, said that selected companies would receive equity investments ranging between 250,000 dollars and 2 million dollars to expand their operations.
   
Bouan also noted that small and medium enterprises in Africa encounter difficulties accessing credit from commercial banks due to a lack of collateral to secure loans.
   
Bruce Nsereko Lule, another partner at Seedstars Africa Ventures, said that equity investments would target African enterprises with the potential to scale operations within countries and across regions. 

Xinhua News Agency correspondents reporting from Nairobi.
(XHTV)