This is to inform the public about the Growth4Her Investor Readiness Accelerator Program 2023 for Women SMEs. Details about the Scholarship are given below.
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About Growth4Her Investor Readiness Accelerator Program 2023
Evidence from an IMF study, with data collected from 47 African countries, indicated that women are more likely to self-select out of the credit market due to low perceived creditworthiness.
Bridging the gender financing gap, especially for WSMEs’ is not solely about availability or affordability but more so about WSMEs’ willingness and capabilities to access financing opportunities.
Understanding these challenges, the Growth4Her Accelerator provides women entrepreneurs with the capacity and tools which enables them to transition from small to high potential fundable growth stage businesses.
Innovative in its approach, it unites communities, using behaviour-based models and transformational leadership approaches combined with practical business skills and tools to support women for market traction and growth, financial management, and technological transformation. These will enable them overcome legislative, psychosocial, and economic barriers while helping them unlock and access financing opportunities.
Our 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.
Growth4Her is a 6-month Investor Readiness Accelerator Program, open to women in West and Central Africa. G4Her seeks to bridge the gender financing gap in Africa by providing women entrepreneurs with the capacity and tools which enables them to transition from small to high potential fundable growth stage businesses.
Cohort 2 is open for applications from women in Nigeria and Cameroon and those selected for the cohort will be contacted.
Growth4Her Investor Readiness Accelerator Program Eligibility
To know if you are qualified for our program, read the eligibility criteria below:
- ≥ 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
- The deadline for receipt of applications is 8 May 2023.
Open this link for more details about the Growth4Her Investor Readiness Accelerator Program 2023.