Growth4Her Accelerator Programme 2022 for Women SMEs in Nigeria & Cameroon
Deadline: October 7, 2022
Creative Space Startups developed project Growth4Her 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 is actively working 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 and by lobbying 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.
Benefits
The Growth4Her program will provide beneficiaries with:
- Access to Market–they provide you with market linkages across African cities.
- Access to funding–they prepare you for investors and connect you with financial institutions.
- Psychosocial and Policy Support–they advocate for policy reforms and work with communities to enable a culture of support for WSMEs.
- Media Exposure–they provide adequate media representation.
- Mentorship–they facilitate access to skilled and experienced mentors.
Eligibility
- Organization should be at least 51% owned by a woman or, at minimum 20% owned by a woman and have at least a woman as CEO/COO (President/Vice President); and have at minimum 30% of its board of directors composed of women, provided there is a board.
- Loan size between US$5,000 and US$1 million (Loans must not be from traditional financial institutions, however, loans from other sources such as associations, cooperatives e.g. “tontine/njangi” “esusu”, family loans may be considered).
- Organization should have between 5 and 300 employees.
- Sales between US$35,000 and US$15 million.
- Assets between US$100,000 and US$15 million annually.
- Can dedicate 1 week to an intense virtual/ physical Bootcamp.
- Can dedicate 3 hours for mentorship engagement for a period of 8 weeks.
- Must be a C-Level executive in the organization.
Application
