Growth4Her, a six-month Investor Readiness Accelerator Programme, is currently accepting applications from women in West and Central Africa. The G4Her initiative aims to close the gender financing gap in Africa by equipping women entrepreneurs with the skills and tools needed to evolve their small businesses into high potential, fundable growth stage ventures.
The third cohort of the G4Her initiative is currently open for applications until March 4. It is specifically targeting women-owned and operated businesses in Nigeria and Cameroon that have between five and 300 employees, generate sales revenue between US$35,000 and US$15 million, and possess assets valued between US$100,000 and US$15 million.
Growth4Her provides women who lead small and medium-sized enterprises (SMEs) with the skills to prepare for investment. The program also facilitates direct connections with investors and fosters an environment conducive to the growth of their businesses.
Sefunmi Obielodan, Program Manager at Creative Space Startups, has expressed enthusiasm about welcoming a new wave of bold and innovative women leaders to the Growth4Her program. Obielodan believes that by supporting women entrepreneurs, they are catalyzing economic growth and promoting a more inclusive and sustainable future for Africa.
Despite Africa having the highest proportion of women entrepreneurs globally, there remain significant challenges in providing them with the necessary support for growth, especially when it comes to access to funding. In 2021, the African Development Bank (AfDB) highlighted a $42 billion gender financing gap in Africa.
As a recipient of funding from the AfDB’s AFAWA initiative, Growth4Her seeks to address this considerable issue, further solidifying its commitment to empowering women entrepreneurs in Africa.
Eligibility for participation
To be eligible, the business must meet at least one of the following criteria:
- Be at least 51% owned by a woman.
- Be at least 20% owned by a woman and have a woman serving as a C-Level Executive (CEO, COO, CTO, CFO, etc.).
- Have a board of directors with at least 30% women members.
- Have between 5 and 300 employees and operate in Cameroon or Nigeria.
- Have annual sales between US$35,000 and US$15 million.
- Be able to dedicate 1 week to an intensive virtual and physical bootcamp and 3 hours for mentorship engagement for a period of 8 weeks.
How to apply
Women-led SMEs are invited to apply here. The deadline for application is Wednesday, March 4, 2024.
