The Economic Community of West African States (ECOWAS) says it is working with Customs authorities to address double taxation affecting young entrepreneurs and businesses operating across the region.
The move is part of efforts to reduce barriers to cross-border trade and create a more supportive business environment for startups seeking to expand beyond their home countries.
Acting Director of Private Sector and Industry at the ECOWAS Commission, Mr. Peter Oluwole, stated this in Abuja while briefing journalists on the second edition of the ECOWAS Startup Awards.
Mr. Oluwole said the awards were designed to provide practical support to young businesses, particularly those struggling with access to finance and wider markets.
“The 2nd ECOWAS Startup Awards programme was designed to provide practical support to entrepreneurs rather than simply celebrate their achievements,” he said.
More than 6,000 startups have expressed interest in the programme, with 60 businesses to be selected for training in business management, startup clinics and capacity building.
Twenty finalists will then proceed to the final competition, with the top three winners receiving $30,000, $20,000 and $15,000 respectively, bringing the total prize money to $65,000.
Mr. Oluwole said the initiative would also connect participating businesses with venture capitalists, impact investors, financial institutions and development partners to improve access to finance and cross-border partnerships.
Selected startups are expected to receive regional exposure, investor introductions, mentorship and networking opportunities involving entrepreneurs, investors and policymakers.
The programme will target high-impact businesses contributing to digital transformation, regional integration and sustainable value-chain development across West Africa.
Participants will also have access to a six-month acceleration programme, alongside digital tools including computers, accessories and software.
ECOWAS said the broader objective is to strengthen the region’s innovation ecosystem, help startups scale, create jobs and enable businesses to take advantage of opportunities within the wider African market.
