The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has partnered with African Guarantee Fund (AGF) and FSDH Merchant Bank to implement its flagship AWIEF Growth Accelerator programme in Nigeria and is excited to announce the call for applications.
Limited access to finance remains a significant barrier for women entrepreneurs in Africa, with a staggering financing gap estimated at $49-billion. To address this challenge, the Growth Accelerator Programme leverages the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative, which aims to unlock up to $3-billion in financing for women-owned/led small and medium-sized enterprises (WSMEs) across the continent.
AGF, a non-bank financial institution, serves as the implementing partner for AFAWA. By addressing both supply and demand-side constraints, AGF and AFAWA work in tandem to create a more equitable landscape for women entrepreneurs in Africa.
The FSDH Merchant Bank partnership with AGF is backed by AFAWA to enable the Partner Financial Institution (PFI) provide loans to WSMEs in Nigeria.
Applications are open to qualifying businesses. The programme will attract and select a cohort of 100 beneficiaries, comprising women entrepreneurs and founders with businesses registered and operating in Nigeria who will participate in the 12-month Growth Accelerator and will benefit from a wide range of tailored and refined business development mentorship, training, and advisory services.
Businesses must meet ONE of the following criteria:
- Entrepreneurship & Ownership: 51% share of women ownership OR Business founded by a woman; or
- Leadership: At least 20% share of women in senior management or 10% share of women on the Board; or
- Products & Services: Product(s) or service(s) enhance(s) well-being of women/girls and/or drive(s) gender equity.
Additionally, businesses must be:
- Based and operating in Nigeria.
- In post-revenue stage.
- Highly innovative and scalable ventures.
- In operation for not less than three years.
- Owned and/or led by ambitious and committed entrepreneurs.
- Seeking for investment, credit or financing to scale and expand.
What Are the Benefits for Participants?
- Improved technical, managerial, leadership, and interpersonal skills aligned with the priority needs of their businesses.
- Access to high-level training, mentorship, and business advisory.
- Increased creditworthiness and capacity to meet the AGF PFI’s financing requirements.
- Post-capacity building and loan application support.
- Enhanced access to other financing opportunities.
- Effective integration of the WSMEs into the financial ecosystem.
- Expanded peer networks in Nigeria and across the African continent.
To submit your application and for more programme details, please follow this link: https://apo-opa.co/3DgIuo0
The deadline for submission is Monday, 31 March 2025 at 11:59pm West Africa Time (WAT).