Growth4Her is a 6-month Investor Readiness Accelerator Program, open to women in West and Central Africa. They are currently running cohorts in Cameroon and Nigeria. While their application portal is always open, selected candidates will only be contacted when they have been selected for a new cohort. Each Cohort is open to at least 15 and at most 25 women. To know if you qualify for our program read the Eligibility Criteria Below.
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Their mission is to contribute to eliminating the USD 42 billion Gender Financing Gap in Africa, through the provision of adequate skills, knowledge, access to markets, access to finance, advocating for better policies and adequate representation for women-owned Small and Medium Size Enterprises.
- Enabling Environment
Enabling a supportive ecosystem where everyone contributes to the growth of women-led small and medium-sized enterprises.
- De-risking WSMEs
Through adapted enterprise support, skills, and knowledge we are building more confident women entrepreneurs who are more fundable.
- Network of WSMEs
Building a network and community of successful women-led small and middle-sized enterprises [WSMEs] who serve as role models, mentors, and enablers for future female entrepreneurs
In 2021, AfDB reported that there exists a $42b gender financing gap in Africa. Globally, the IFC estimates a $300b gender financing gap, where more than 70% of women-owned small and medium enterprises have inadequate or no access to financial services. Beyond business financing, women entrepreneurs (WSMEs) generally account for the highest financially excluded demographic in Africa, as only 37% of women have and own traditional bank accounts.
For nations and communities to experience sustained and inclusive economic growth, we have to ensure continuous financial and economic inclusion.
This implies all demographics and groups of people have readily available, accessible and affordable access to financial services. For WSMEs this would inherently harness their untapped business potential, ensuring business sustainability and consistent individual economic prosperity. Bridging the gender financing gap, especially for WSMEs is not solely about availability or affordability but more about WSMEs’ willingness and capability to access financing opportunities. Evidence from an IMF study of 47 African countries, indicated that women are more likely to self-select out of the credit market due to low perceived creditworthiness.
With this understanding, G4Her is an accelerator program targeted at building the capacity of women-led small and medium enterprises (WSMEs) to enable them to transition to high potential fundable growth stage businesses.
Understanding these challenges, Creative Space Startups in partnership with SocioCapital , The Learning Gate and WETECH co-created the Growth For Her Accelerator. A women’s support program which provides women entrepreneurs with the capacity and tools which enables them to transition from small to high potential fundable growth stage businesses.
Why join the Growth4Her program-
- Access to Market
We provide market linkages for our beneficiaries
- Access to Funding
G4Her prepares you for investors and offers linkages to Financial Institutions
- Psychosocial and Policy Support
We advocate for policy reforms and work with communities to enable a culture of support for WSMEs
- Media Exposure
Adequate media representation
Access to skilled and experienced mentors
- ≥ 51% owned by a woman or,
- ≥ 20% owned by a woman and have ≥ one woman as CEO/COO (President/Vice President); and
- have ≥ 30% of the board of directors comprised of women, where a board exists.
- Loan size between US$5,000 and US$1 million (Loans must not be from traditional financial institutions, loans from other sources such as associations, cooperatives e.g. “tontine/njangi” “esusu”, family loans may be considered)
- Between 5 and 300 employees
- Sales between US$35,000 and US$15 million
- Assets between US$100,000 and US$15 million
- 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
- To apply go to their official application site
- Fill out the google form carefully.
Application Deadline: October 7, 2022Application ClosedOfficial link