The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has announced a strategic partnership with the African Guarantee Fund (AGF) and FSDH Merchant Bank Limited to implement its flagship AWIEF Growth Accelerator programme in Nigeria. This initiative aims to support women-led businesses by enhancing their access to finance and investment opportunities. Applications for the programme are now open.
Addressing the Financing Gap for Women Entrepreneurs
Access to finance remains a critical challenge for women entrepreneurs in Africa, with an estimated USD 49 billion financing gap. The AWIEF Growth Accelerator Programme is designed to tackle this issue by leveraging the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative, which seeks to unlock up to USD 3 billion in financing for women-owned and women-led Small and Medium-Sized Enterprises (WSMEs) across the continent.
AGF, a leading non-bank financial institution focused on promoting economic development, is the implementing partner for AFAWA. The organization plays a crucial role in providing technical assistance to partner financial institutions, ensuring they are well-equipped to serve women-owned businesses effectively. FSDH Merchant Bank Limited, as a Partner Financial Institution (PFI) backed by AFAWA, will provide loans to WSMEs in Nigeria. The bank drives its gender strategy through its Women in Business Initiative (WIBI), demonstrating its commitment to empowering women entrepreneurs across the country.
A Collaborative Approach to Financial Empowerment
The partnership between AWIEF, AGF, and FSDH Merchant Bank Limited was established to bridge the financing gap by making WSMEs credit and investment-ready. The initiative will help women-led businesses meet the credit requirements necessary to secure funding from FSDH Merchant Bank Limited, ultimately fostering a more equitable entrepreneurial landscape.
Call for Applications
Applications are now open for qualifying businesses to join the 12-month Growth Accelerator Programme. A cohort of 100 women entrepreneurs and founders with registered and operational businesses in Nigeria will be selected. Participants will benefit from tailored business development mentorship, training, and advisory services to enhance their capacity for growth and expansion.
Eligibility Criteria
Businesses must meet at least one of the following criteria:
- Entrepreneurship & Ownership: At least 51% women ownership or founded by a woman.
- Leadership: At least 20% women in senior management or 10% representation on the board.
- Products & Services: Offering products or services that enhance the well-being of women/girls and/or promote gender equity.
Additionally, eligible businesses must:
- Be based and operating in Nigeria.
- Be in the post-revenue stage.
- Demonstrate high levels of innovation and scalability.
- Have been in operation for at least three years.
- Be led by ambitious and committed entrepreneurs.
- Be actively seeking investment, credit, or financing for expansion.
Benefits for Participants
Participants in the AWIEF Growth Accelerator will gain:
- High-level training, mentorship, and business advisory support.
- Enhanced technical, managerial, leadership, and interpersonal skills.
- Increased creditworthiness and readiness for financing.
- Post-capacity building and loan application support.
- Improved access to financial opportunities.
- Integration into the financial ecosystem.
- Expanded peer networks within Nigeria and across Africa.
Application Details
Applications are officially open for the AWIEF Growth Accelerator Programme, in partnership with AGF and FSDH Merchant Bank Limited. Interested entrepreneurs can submit their applications via this link. The deadline for submissions is Monday, 31 March 2025, at 11:59 PM West Africa Time (WAT).
For more information, applicants can reach out via email at info@awieforum.org.
