The European Union’s Boost Africa initiative is being positioned as a key tool for strengthening entrepreneurship, innovation and job creation across the continent, with the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, underscoring its role in the bloc’s long-term partnership with African countries.
Speaking at the Boost Africa Impact Forum and media briefing in Abuja on Wednesday, 9th of September, 2026, Mignot said the programme, a joint initiative of the European Investment Bank (EIB) and the African Development Bank (AfDB) supported by the EU, is designed to facilitate access to capital for African entrepreneurs and businesses under the EU’s Global Gateway strategy.
Since its launch in 2016, Boost Africa has invested more than €100 million (about €108 million) to support African entrepreneurs, mobilising close to €400 million in additional investment and contributing to the creation of around 15,000 jobs across sub-Saharan Africa, with significant activity in Nigeria. The initiative has reached about 100 companies, focusing on financial instruments that can create jobs, particularly for young people, while strengthening local value chains.
Mignot said the significance of Boost Africa goes beyond the amount of money invested, stressing that its ultimate goal is to create tangible improvements in people’s lives through entrepreneurship, innovation and job creation. “Today’s event is about more than investment figures. It’s about people, entrepreneurs, innovation, jobs and opportunities created when Africa’s talent is matched with the right partners and the right financing,” he said.
The EU envoy said the initiative is meant to create jobs and opportunities, especially for young people, and to help build or reinforce local value chains. By leveraging private investment through financial instruments, Boost Africa aims to expand business opportunities and support a new generation of African entrepreneurs able to realise their ambitions through timely and appropriate financing.
The programme’s geographic focus is sub-Saharan Africa, excluding South Africa, with prioritisation of West and Central Africa. A second phase of the Boost Africa Technical Assistance Facility is being prepared to strengthen Africa’s early-stage investment ecosystem over four years from late 2026.
Alongside Boost Africa, the AU–EU Youth Action Lab is running its final grant round, offering 11 grants of €31,500 each to youth-led non-profit organisations in 12 African countries to advocate for an enabling environment for young entrepreneurs. Applications are open until the 23rd of September, 2026, with projects to run from January to December 2027.
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