Submissions for the Nigerian and Cameroonian Women SMEs Growth4Her Accelerator Programme 2022. Women in small and medium-sized enterprises (SMEs) can apply to the Growth4Her initiative, which provides mentorship, investor readiness training, psychosocial support, access to funding opportunities, and access to markets – Growth4Her Accelerator Programme for Women SMEs in Nigeria and Cameroon
Deadline: October 7, 2022
What Growth4Her is;
Project Growth4Her was developed by Creative Space Startups with AFAWA-AFDB funding in collaboration with Sociocapital Impact Group, The Learning Gate, and WETECH. Growth4Her is a women’s support program that gives female entrepreneurs the skills and resources they need to move from starting small enterprises to high potential, fundable growth stages.
According to a report by the African Development Bank (AfDB) in 2021, there is a $42 billion gender finance gap in Africa. Growth4Her actively works to close the gender financing gap in Africa by giving women-owned small and medium-sized businesses access to enough knowledge, skills, markets, and financing as well as by campaigning for better legislation and adequate representation for them.
This program’s goal is to empower 1500 female entrepreneurs in ten African cities over the course of the next five years, with a focus on women-led small and medium enterprises (WSMEs). The initiative equips recipients with investment preparation skills, connects them with funders directly, and promotes an ecosystem that helps WSMEs.
Beneficiaries of the Growth4Her initiative will receive the following:
- Access to Market: They give you connections to markets in various African cities.
- Access to funding: They set you up with financiers and prepare you for investment.
- Psychosocial and Policy Support: They promote policy changes and collaborate with localities to provide a supportive environment for WSMEs.
- Media Representation: They offer suitable media exposure.
- Mentorship: They make it easier to connect with qualified and knowledgeable mentors.
- A woman should own at least 51% of the company, or at least 20%, and serve as the CEO, COO, President, or Vice President. If there is a board of directors, at least 30% of the board should be made up of women.
- Loans must not come from typical financial institutions; however, loans from associations, and cooperatives, such as “tontine/njangi” and “esusu,” as well as family loans, may be taken into consideration. Loan amounts between US$5,000 and US$1 million.
- A company should have five to three hundred people.
- between $35,000 and $15 million in sales.
- assets with an annual value of between $100,000 and $15,000,000.
- can commit one week to a rigorous online or offline Bootcamp.
- can commit three hours every week for eight weeks to mentoring.
- Must be a senior executive in the company.
Apply here by clicking Growth4Her Accelerator Programme for Women SMEs in Nigeria and Cameroon
To learn more, go to Growth4Her.