The launch of Archipelagos, the platform for African enterprises

The launch of Archipelagos, the platform for African enterprises

Archipelagos is the platform created by CDP and the African Development Bank to support the development of African enterprises with high growth potential, promoting links between the African market and those of Italy and Europe.

This is the first pan-African platform under the External Investment Plan promoted by the European Commission, which provides for the activation of 30 million euros of guarantees to support the initiative.

These resources will make it possible to mobilise 150 million euros of public and private investment to support over 1,500 local SMEs, contributing to the creation of 50,000 new jobs, many of them for young people.

The Programme is divided into two stages: to begin, enterprises with the highest potential will be selected and given access to high level managerial training programmes and helped to create a network of commercial relationships with Italy and Europe.

In the second stage, the best performing enterprises will get access to innovative sources of financing such as Basket Bonds, recently launched by CDP in Italy.

By creating Archipelagos, CDP has reinforced focus on promoting sustainable development. The new initiative contributes to the achievement of the following goals; 1 - no poverty - 5 - gender equality - 8 - decent work and economic growth - 9 - Industry, Innovation and Infrastructures - 10 - reduced inequality and 17 - partnerships to achieve the goals.  Developed in close collaboration with AfDB, the Archipelagos platform, in addition to being a solid form of support for the African entrepreneurial sector, confirms how synergy between CDP and international institutions is essential in achieving significant results.

"We are sure that Archipelagos will be a valuable tool on the road to achieving the UN 2030 Agenda goals, supporting partner enterprises with their ambitious growth paths towards new horizons of sustainability, innovation and competitiveness", said Antonella Baldino, CDP Chief International Development Finance Officer.