The Economic Community of West African States (ECOWAS) says West Africa’s Customs Service is to address double taxation for young entrepreneurs.
Briefing journalists at the ECOWAS Headquarters in Abuja, Nigeria, the Acting Director of the Private Sector and Industry at the ECOWAS Commission, Mr Peter Oluwole, said the upcoming 2nd ECOWAS Startup Awards is a platform to tackle two of the main challenges facing young businesses in the region, especially access to finance.
“The 2nd ECOWAS Startup Awards programme was designed to provide practical support to entrepreneurs rather than simply celebrate their achievements,” said Oluwole.
According to him, more than 6,000 startups have expressed interest in the second edition of the awards, believing that the initiative will go beyond identifying winners by building a pipeline of businesses capable of expanding across West Africa and competing in the wider African market.
“60 startups will be selected for training in business management, startup clinics and capacity building, after which 20 finalists will proceed to the final competition.”
READ ALSO: ECOWAS, AU Align Youth Peace Framework Initiative
“Among the 20 finalists, the three leading startups will receive funding of $30,000, $20,000 and $15,000 respectively,” he said
This brings the total cash prize to $65,000.
The ECOWAS Commission said the initiative is designed to strengthen the regional innovation ecosystem, improve access to finance and markets, and help startups scale their businesses and create jobs.
The Acting Director, ECOWAS Private Sector and Industry, said the selected businesses will be connected with venture capitalists, impact investors, financial institutions and development partners, with the aim of helping them secure additional financing and establish cross-border partnerships.
The second edition of the ECOWAS Startup Awards is targeting high-impact startups contributing to digital transformation, regional integration and sustainable value-chain development across West Africa.
Selected startups are expected to receive regional exposure, investor introductions, mentorship and networking opportunities involving entrepreneurs, investors and policymakers.
Winners and selected participants will also have access to a six-month acceleration programme, as well as digital tools such as computers, accessories and software.
The competition is scheduled to run from 21 to 25 September 2026 in Abuja.
