The African Development Bank (AfDB) is calling for applications from organisations that help enable female businesses and female entrepreneurs to apply for funding from the bank in the ongoing AfDB Female Business Enablers Funding Program.
To stand a chance to be selected for funding, you should be a female-owned organisation that is helping other female entrepreneurs and business women to conduct their business on the African continent.
In an official statement, Esther Dassanou, the head of the program at AfDb said, “Women business enablers are critical to creating a viable enabling environment in which women entrepreneurs can grow and create businesses that generate jobs for the continent. Through the Affirmative Finance Action for Women in Africa initiative, the Bank is committed to supporting enablers to strengthen the business and financial skills as well as wealth-creating capacity of their members.”
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How Much Funding Can You Access?
The Bank will assess applicants’ track record in supporting women SMEs, innovation and strong development impact, as well as their capacity to mobilize other sources of funding. Eligible organizations may request funding of between $100,000 and $250,000, provided through the Bank’s Gender Equality Trust Fund.
Who Can Apply?
- Women’s business associations
- Women incubators
- Women accelerators
- Cooperatives that advance women’s entrepreneurship
- Additionally, preferences will be given to organisations that demonstrate any of the following attributes:
i. Track record in supporting women SMEs;
ii. Innovation and strong development impact;
iii. Mobilization of additional funding;
iv. Partnership with both public and private sectors;
v. Additionality and value for money;
vi. Long term plan and sustainability;
vii. Collaboration between two or several applicant enablers.
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All proposals must demonstrate the following yardsticks:
- i. Innovative approaches to build a supportive ecosystem for women’s
- entrepreneurship aimed at improving access to finance for WSMEs;
- ii. Show ways to disseminate advisory services adressing capacity constraints,
- skills enhancement and digital presences for WSMEs;
- iii. Enhance visibility and access to mentorship and role models for WSMEs
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How To Apply
To apply for the AfDB Female Business Enablers Funding Program, kindly click on this link to access the official application portal.
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Applications must be put in on or before midnight on 30 May 2021.
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