AWIEF Growth Accelerator program for Nigerian women entrepreneurs is currently accepting applications.
For African women entrepreneurs, limited access to capital continues to be a major obstacle, with an estimated USD 49 billion in financing gaps. The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program, which seeks to unlock up to USD 3 billion in financing for women-owned/led Small and Medium-Sized Enterprises (WSMEs) throughout the continent, is utilised by the Growth Accelerator Programme to address this challenge.
The implementing partner for AFAWA is AGF, a prominent non-bank financial organization whose mission is to advance economic growth, create jobs, and lessen poverty in Africa. In order to improve their ability to support women-owned businesses, AGF also offers technical assistance to partner financial institutions. By tackling supply-side and demand-side issues, AGF and AFAWA collaborate to establish a more equal environment for African women entrepreneurs.
AFAWA supports the cooperation between FSDH Merchant Bank Limited and AGF, which enables the Partner Financial Institution (PFI) to lend to WSMEs in Nigeria. Through its Women in Business Initiative (WIBI), FSDH Merchant Bank Limited advances its gender strategy and is committed to supporting women in business throughout Nigeria.
The purpose of the tri-party partnership between AWIEF, AGF, and FSDH Merchant Bank Limited is to provide financial access for WSMEs in Nigeria that are spearheading solutions in several catalytic industries. Making the WSMEs credit and investment-ready and qualified to obtain business loans and financing from FSDH Merchant Bank Limited will accomplish this. A steady flow of companies that are ready to fulfill the credit needs of the FSDH Merchant Bank will be made available by the program.
Call for Applications
Qualifying firms are invited to apply. A cohort of 100 women entrepreneurs and founders with companies registered and operating in Nigeria will be drawn in and chosen by the program. These women will take part in the 12-month Growth Accelerator and receive a variety of specialized and improved business development mentorship, training, and advisory services.
Eligibility Criteria
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?
- Access to high-level training, mentorship, and business advisory.
- Improved technical, managerial, leadership, and interpersonal skills aligned with the priority needs of their businesses.
- 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.
Applications Open Now!
Applications are officially open for qualifying candidates for the AWIEF Growth Accelerator, in partnership with AGF and FSDH Merchant Bank Limited.
Deadline: 31 March 2025
To apply click here.
