Village Capital, in collaboration with the Norwegian Agency for Development Cooperation (Norad), has initiated a comprehensive program called Empowering Sustainable Entrepreneurship Africa. This initiative is designed to bolster the capabilities and influence of Entrepreneur Support Organizations (ESOs) and startups that are focused on climate-related issues in five African countries: Ghana, Kenya, Malawi, Mozambique, and Tanzania.
Since its inception in Sub-Saharan Africa in 2012, Village Capital has been actively involved in the region, conducting more than 14 accelerator programs and extending its services to entrepreneurs across 15 countries. Norad, on the other hand, engages with various global partners to facilitate the achievement of the United Nations’ Sustainable Development Goals.
The Empowering Sustainable Entrepreneurship Africa program is structured to follow a two-pronged strategy. The first component is dedicated to empowering local ESOs by providing them with the necessary technical know-how and resources to promote sustainable development within their organizations.
The second component focuses on providing direct support to climate-oriented businesses in the selected countries, with the aim of nurturing a sustainable pipeline of scalable and investment-ready startups. These startups are expected to drive innovation in key sectors such as the blue economy, climate change adaptation, food security, and renewable energy.
Rachel Crawford, who oversees special projects at Village Capital, emphasizes the pivotal role of ESOs within the entrepreneurial ecosystem. ESOs are often the primary source of support for entrepreneurs, offering training and facilitating connections with vital networks, including investors and skilled professionals, particularly in burgeoning ecosystems.
She notes that while ESOs are critical, they frequently face a common challenge: the lack of capital to invest directly in startups. Village Capital’s initiative is designed to tackle this issue by focusing on ecosystem development, enterprise support, and the provision of catalytic capital.
Fredrik Ilsaas Pharo, the Director of Climate and Environment at Norad, expressed enthusiasm about the partnership with Village Capital on this initiative. He acknowledges the significant role that entrepreneurs and innovative startups play in contributing to the Sustainable Development Goals. However, he also recognizes that these entities often encounter obstacles in accessing financing and technical assistance. Through the strengthening of the entrepreneurial ecosystem via ESOs, the initiative aims to surmount some of these challenges.
The partnership is particularly noteworthy for its multi-sectoral approach, targeting areas such as the blue economy, renewable energy, food security, and climate adaptation. The goal is to maximize the overall contribution to innovation and entrepreneurship in Africa.
Village Capital is set to conduct an informational session tailored for ESOs in the target countries to provide more details about the program and its eligibility requirements. Ahmed Fadl, the program manager at Village Capital, is the point of contact for those interested in learning more about the program or participating in the information session. He can be reached at ahmed.fadl@vilcap.com for further inquiries.
