Grants

Funding Opportunities for African Entrepreneurs

African Micro, Small and Medium Enterprises (MSMEs) face many challenges, including access to funding opportunities. This, in turn, makes growing and scaling businesses difficult for entrepreneurs. While MSMEs are often drivers of growth, especially in developing countries, 51% of these businesses need more capital than they can access (Center for Strategic & International Studies, 2021). To support the capacities of MSMEs to create numerous jobs and sporadically improve the Gross Domestic Product (GDP) of African countries, below are some available funding opportunities: 2022 Africa’s Business Heroes Prize Competition Win up to $300,000 in grant funds from Africa’s Business Heroes Prize (ABH) Competition. ABH is open to African entrepreneurs making a difference in their local communities. Your business must be providing a solution to the most important problems in the world. It must also be sustainable and inclusive. Formally registered African businesses from all sectors, with a three-year track record, are eligible to apply.  The application deadline is June 20, 2022. D-Prize Seed Capital Do you have a new, proven idea capable of solving poverty? If yes, you’re the entrepreneur D-prize is looking for. You stand a chance to get up to $20,000 to fund an intervention that is capable of eradicating poverty.  Your idea can fall into any of these categories- health access, water, education, agriculture, livelihoods, energy and public services. Similarly, you can propose a custom intervention. Every entrepreneur is eligible to apply as there are no geographical, age or background restrictions. The extended application deadline is June 26, 2022. Copernicus Masters Challenge A total of EUR 531,000 is available for individuals using Earth observation data to tackle global challenges. Innovators above 18 years are eligible to apply. More so, Applications are welcome from start-ups, SMEs, universities and corporations, as long as you’re utilizing Earth Observation (EO) data to solve a problem. If you decide to apply, make sure you do so on or before 11 July 2022. Cartier Women’s Initiative Annually, the Cartier Women’s Initiative empowers impact entrepreneurs, especially women with funding and networking opportunities. Women with solid, sustainable, social or environmental impact from any country or sector can apply. Funding from the Cartier Women’s Initiative is divided into three categories: The Regional Award Science and Technology Pioneer Award- for women entrepreneurs innovating scientific and technological solutions to problems. Diversity, Equity and Inclusion Award- for any entrepreneur (male or female) designing solutions that seek to provide opportunities for communities that have been underserved. The deadline for all categories is Thursday, June 30, 2022, at 2 p.m. Central European Summer Time (CEST). Draper Richards Kaplan Foundation Is your business mission-driven? Have you been addressing critical social or environmental issues for about three years? The Draper Richards Kaplan Foundation might be the right opportunity for you. The foundation accepts applications for social impact ideas all year, so you never have to worry about a deadline. Impact-focused, data-driven businesses at post-pilot stages, with the willingness to expand, are eligible to apply. Know an entrepreneur that needs this? Share and prompt them to check out these opportunities to start, grow or scale their businesses.  

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Africa Business Heroes Competition 2022 for African Entrepreneurs

Applications for the 2022 Africa Business Heroes Competition are now open, and competitors from all African countries are welcome.  You may win equipment to help you in your entrepreneurial path.  Apply in English or French today! ABH aims to identify, support and inspire the next generation of African entrepreneurs who are making a difference in their local communities, working to solve the most pressing problems, and building a more sustainable and inclusive economy for the future. The initiative aims to be as inclusive as possible. Applications are open in English and French to entrepreneurs from all African countries, all sectors, and all ages who operate businesses formally registered and headquartered in an African country, and that have a 3 year-track record. Every year, ten finalists will be selected to compete in the ABH finale pitch competition and participate in a TV Show that will be broadcast online and across the continent. The finalists will compete for a share of US $1.5 million in grant money. Eligible Countries: African countries Type: Entrepreneurship Eligibility for Africa Business Heroes: Applicant should be the Founder or a Co-Founder of the company. Applicant has traceable/provable African nationality. In other words, you have/had African citizenship and/or a Parent or Grandparent has African citizenship. Company is Africa-Based. The business is registered and headquartered in an African country, and primarily operates in Africa. Company is post-Idea stage. Business is 3 years old or more and has at least 3 years of revenue history Application Deadline: 6th June 2022 Apply Here

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WIA 54 (Women in Africa) 2022 Programme for African Women Entrepreneurs

WIA has pledged to help 10,000 African women entrepreneurs by 2030 through its WIA 54 program, which includes training, mentorship, communication, and access to capital. By 2030, the objective is to contribute to the creation of 100,000 employment and the development of $10 billion in income for Africa’s economy. WIA54 identifies remarkable African women entrepreneurs who run businesses with high growth potential.   The call for applications will run from February 22, 2022, to May 31, 2022. Applicants must complete the application form, which has several sections: – personal information; –  information about the company.  The application will be done in 2 steps – the WIA team will get back to the pre-selected candidates after step 1.  The eligibility criteria: A business created or led by an African woman First traction on the market (sales, number of users, funds raised) Be part of one of the 8 categories (primary business category) The selection criteria for the projects: Innovative product, service or technology Proven business model scalability Strong growth potential Ambitious team with strong execution ability Market traction (revenue, number of users, funds raised) Potential impact in Africa For more information on how to apply visit the Official Webpage of the Women in Africa (WIA) 54 Programme 2022

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The Young Social Entrepreneurs (YSE) Global Funding

The Young Social Entrepreneurs (YSE) Global program is an eight-month program that inspires, equips, and empowers youngsters from all over the world to establish or build up social companies in Singapore and beyond. YSE Global has been nurturing a network of young people with creative company ideas since 2010. Centered on social good In collaboration with seasoned social entrepreneurs, We harness the power of ideas as business consultants and investors. know-how and resources to make a good difference in the world Do you want to grow your social enterprise? Submit your application today if you are between the ages of 18 and 35 and have a viable and creative commercial solution to a social issue. Gain access to a global ecosystem of investors, industry experts, seasoned mentors, and a growing network of over 1,300 young changemakers from 42 countries. Leading social innovation ideas and industry insights from the region will inspire you. Shortlisted teams will be given the opportunity to grow up their social enterprises with funding of up to S$20,000. With YSE Global 2022, you can make a bigger difference! Applications will be accepted from February 14 through April 24, 2022, at 11:59 p.m. (GMT +8). APPLY HERE

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How to ensure Financial Interventions are Effective

In the history of providing financial interventions for the Small and Medium Enterprises (SMEs) in Nigeria, a mix of funding in different areas, to support the textile, manufacturing, agriculture, pharmaceuticals, and housing sectors have received a boost to ensure the growth and sustainability of these industries in order to reduce the burden and effects of unemployment in Nigeria. What comes to mind is that the support provided for these small businesses should produce a cumulative effect in job and wealth creation as well as contribute to National and Economic development by moving most Nigerians out of the poverty line into the empowerment line. However, there are concerns about whether this very goal is being achieved and brings us to clearly evaluate whether there has been an improvement in the activities of SMEs or not. Here are procedures to follow in order to ensure that government interventions are properly utilized. 1. Conduct an on-site verification of SMEs The sustainability of any financial intervention is based on the authenticity of the existence of an actual business. Due to the fact that most SMEs would like to benefit from any ongoing intervention, they do everything possible to qualify for funding opportunities and some do not have an existing business. When they receive the funding by establishing a miniature business to look like an existing one, they take the funds and misappropriate for their personal lifestyles. 2. Audit of their financial statements The healthiness of a business can be determined from its financial records. There are important records to look out for when auditing a small business. They are Cash flow statement Balance sheet Profit and loss statement A business with these financial statements that are generated based on Proper day-to-day recording of every single transaction shows that their ability to gather useful data and pay attention to happenings around their business is important and this is a major criterion before receiving funding, especially recent financial statements of between 3-6 months. 3. Business Development Training Certified business development professionals with a deep understanding of the metrics to track what improvements need to be made in a business to make it competitive should be recruited to work with a number of prospective beneficiaries of financial interventions and note what challenges they are facing. The reports for each business would then be the framework to release financing after evaluating the needs of such businesses rather than giving out an equal amount to all beneficiaries. 4. Funding Should Be Given Based on Performance Implementation of the solutions to the challenges found should be made into phases, this is to enable the release of funding to solve a certain challenge in the business per time. A good recommendation is called “Payment by Result (PBR)” which means until the organization produces the expected result of solving a particular challenge in their businesses, they would not qualify for another round of funding. These measures would enable the expectations of creating jobs and proper utilization of the funding to be achieved. Emmanuel Otori is the Co-founder at Abuja Data School and has had over 8 years of experience working with over 50 SMEs across Nigeria as well as consulting experience on the GEM Project of the World Bank and facilitating training for different private and public institutions.

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