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Creative Space Startups, a non-profit organization, has commenced the application process for the third cohort of Growth4Her, aiming to empower 100 women-led SMEs in Nigeria and Cameroon.
The investor readiness accelerator program, operating as a consortium involving Creative Space Startups, SocioCapital Impact Group, The Learning Gate, and ActivSpaces, focuses on supporting women entrepreneurs by offering capacity building and tools to scale up their businesses.
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Addressing the gender financing gap reported by the African Development Bank (AfDB), which amounted to $42 billion in 2021, Growth4Her seeks to empower 1,500 women entrepreneurs across 10 African cities over the next five years.
As part of the AfDB’s AFAWA initiative, Growth4Her aims to provide women-led Small and Medium Enterprises (WSMEs) with the necessary support for growth.
Program Manager at Creative Space Startups, Sefunmi Obielodan, expressed excitement about welcoming the next generation of women leaders to the Growth4Her program.
The selected entrepreneurs will receive capacity building, mentorship, psychosocial and policy support, access to funding, media exposure, and market exposure across Africa.
Eligibility Criteria
To be considered for the program, businesses must meet at least one of the following criteria:
1. Be at least 51% owned by a woman.
2. Be at least 20% owned by a woman with a woman serving in a C-Level Executive role.
3. Have a board of directors with at least 30% women members.
4. Have between 5 and 300 employees and operate in Cameroon or Nigeria.
5. Have annual sales between US$35,000 and US$15 million.
6. Be able to dedicate one week to an intensive virtual and physical boot camp and three hours for mentorship engagement.
Growth4Her aims to foster economic growth and contribute to a more inclusive and sustainable future for Africa by investing in women entrepreneurs.
Deadline: March 6, 2024
