Deadline: October 7, 2022
Applications for the Growth4Her Accelerator Programme 2022 for Women SMEs in Nigeria and Cameroon. The Growth4Her programme is open to women SMEs looking to transition their businesses to growth-powered businesses as the programme offers investor readiness training, psychosocial support, mentorship, access to financing opportunities and access to markets.
Growth4Her is an AFAWA-AFDB-funded project created by Creative Space Startups in partnership with Sociocapital Impact Group, The Learning Gate and WETECH. Growth4Her is a women’s support programme which provides women entrepreneurs with the capacity and tools which enables them to transition from small to high potential fundable growth stage businesses.
In 2021, African Development Bank (AfDB) reported that there is a $42b gender financing gap in Africa. Growth4Her is actively eliminating the Gender Financing Gap in Africa through the provision of adequate skills, knowledge, access to markets, access to finance, advocating for better policies and an adequate representation for women-owned Small and Medium Size Enterprises.
Over the next five (5) years, this programme aims to empower 1500 women entrepreneurs across 10 African cities with a particular interest in Women-led Small and Medium Enterprises (WSMEs). The programme offers beneficiaries investment readiness skills, links them directly to funders, and fosters an ecosystem that supports WSMEs.
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.
- 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.