Growth4Her is accepting applications for its first cohort, which is open to women-owned and led Small and Medium-sized Enterprises in Nigeria and Cameroon.
The Growth4Her programme is open to women SMEs looking to transition their businesses to growth-powered businesses, as it offers investor-readiness training, psychosocial support, mentorship, access to financing opportunities and access to markets.
Application opens on September 1, 2022 and closes on October 7, 2022.
Growth4Her is an AFAWA-AFDB-funded project created by Creative Space Startups in partnership with Sociocapital Impact Group, The Learning Gate and WETECH. It is a women’s support programme that provides women entrepreneurs with the capacity and tools, which enable them to transition from small to high potential fundable growth stage businesses.
In 2021, African Development Bank reported that there is a $42bn Gender Financing Gap in Africa. Growth4Her is actively eliminating the gap through the provision of adequate skills, knowledge, access to markets, access to finance, advocacy for better policies and adequate representation for women-owned SMEs.
Over the next five years, this programme aims to empower 1,500 women entrepreneurs across 10 African cities with a particular interest in Women-led Small and Medium Enterprises. The programme offers beneficiaries investment readiness skills, links them directly to funders, and fosters an ecosystem that supports WSMEs.
What will the programme provide?
The Growth4Her programme will provide beneficiaries with:
- Access to Market – We provide you with market linkages across African cities.
- Access to funding – We prepare you for investors and connect you with financial institutions.
- Psychosocial and Policy Support – We advocate policy reforms and work with communities to enable a culture of support for WSMEs.
- Media Exposure – We provide adequate media representation.
- Mentorship – We facilitate access to skilled and experienced mentors.
- The organisation should be at least 51 per cent owned by a woman or, at minimum 20 per cent owned by a woman and have at least a woman as Chief Executive Officer/Chief Operating Officer (President/Vice President); and have at minimum 30 per cent of its board of directors composed of women, provided there is a board.
- Loan size between $5,000 and $1m (loans must not be from traditional financial institutions; however, loans from other sources such as associations, cooperatives e.g. “tontine/njangi”, “esusu” or family loans may be considered).
- The organisation should have between five and 300 employees.
- Sales between $35,000 and $15m.
- Assets between $100,000 and $15 million yearly.
- Can dedicate one week to intense virtual/ physical boot camp.
- Can dedicate three hours for mentorship engagement for eight weeks.
- Must be a C-Level executive in the organisation.
TO APPLY, VISIT—https://growth4her.org/apply/