L’Oréal has announced an investment in the fund Partech Africa, an investment fund launched earlier this year that is dedicated to the development of Tech projects in Africa. The amount was not disclosed.
The relationship will allow the French beauty giant to forge relationships with start-ups and entrepreneurs active in the development of innovative products and services, which facilitate access to consumers in remote areas or informal environments.
“With Partech Africa, we want to support these talented entrepreneurs who invent new technological uses in all areas, distribution and consumption,” said Alexandre Popoff, Executive Vice-President Eastern Europe and Africa, Middle East. “L’Oréal is very happy to contribute to the development of young companies in Africa and to seize what is starting.”