Unfortunately, access to funding is one of the biggest challenges facing entrepreneurs today, especially here in Africa. But this hindrance notwithstanding, the truth is that there are countless funding opportunities available for African entrepreneurs. You just need to have detailed information about these opportunities, know how to access them and be willing to actually access them.
That said, this article presents you with five out of the many funding opportunities that are currently available to African entrepreneurs. We have done our best to provide as much details as we possibly can. Still, be sure to carry out further research on your own in order to get as much information about these funding opportunities prior to applying.
The funding opportunities are hereby listed below, albeit in no particular order of relevance.
1. Africa Business Heroes Prize 2022
Applications for the 2022 Africa Business Heroes Prize are currently ongoing. The initiative is courtesy of the Jack Ma Foundation, and the aim is to support innovative African entrepreneurs. Over the past four years, many entrepreneurs have emerged winners and benefitted from the $1.5 million grant money given out every year. Participants at this competition also get to have access to mentoring and training programmes designed to help them improve on their craft.
If you are interested in participating in the 2022 Africa Business Heroes Prize, then you have between now and June 26, 2022 to submit an application. Visit the initiative’s website to learn more about how to apply.
2. Access Bank’s Womenpreneur Pitch-a-ton Africa 2022
This is yet another great funding opportunity, designed specifically for women entrepreneurs. The opportunity is available to women entrepreneurs across the nine African countries where Access Bank operates. These include: Nigeria, Ghana, Rwanda, Zambia, Sierra-Leone, Gambia, Kenya, Mozambique, South Africa, and Congo.
Successful applicants stand the chance of winning grants as well as undertaking a mini MBA programme. The programme will last for three months, during which there will be pitching and sessions and the mini MBA training in collaboration with the International Finance Corporation.
Applications for the Womenpreneur Pitch-a-ton Africa 2022 are currently ongoing. Visit Access Bank’s website to learn more.
3. GrowFin Fund
GrowFin is a leading global financier of entrepreneurs, helping them to grow their medium-sized enterprises. The service is available in more than 10 African countries. And since its establishment in 2004, GrowFin has funded more than 700 small businesses across Africa and the Middle East.
To stand a chance to receive thousands of dollars worth of credit facility, visit GrowFin’s website today and take part in their eligibility assessment.
4. United States African Development Foundation Grants
This US agency provides various kinds of grants and development aids to African entrepreneurs. According to information available on its website, African entrepreneurs and small businesses can access grant capital, capacity building assistance and mentorship opportunities to grow and scale.
For more information about the grant opportunities currently available, visit USADF’s website today.
5. D-Prize entrepreneurship funding opportunity
D-Prize provides funding opportunities for aspiring entrepreneurs across the world. All you need is to design a business model that could potentially alleviate poverty at scale. If you have any of these ideas, then this opportunity is for you. You could stand the chance to receive as much as $20, 000 worth of seed capital to launch your business.
D-Prize is currently welcoming applications. Visit the organisation’s website today and ensure you finalise your application before June 26, 2022.