While getting fund for that business idea might not sound quite as easy as, say, debating the effect of economic policies on small businesses, it’s still top priority for the overwhelming majority of Africans who have decided to go the entrepreneurial route, with about 80% percent listing it as their number one concern.
With that in mind, and because this topic can get convoluted real fast, we’re breaking down the places you absolutely need to know about to get business grants—whether as a small business, NGO, women, or social enterprise.
1. The Tony Elumelu Foundation
The $100 million program, announced at the Tony Elumelu Foundation through its Tony Elumelu Entrepreneurial Programme (TEEP) plans to identify and support 1,000 entrepreneurs from across the continent each year over the next 10 years.
The 10,000 start-ups and young businesses selected from across Africa will ultimately create one million new jobs and add $10 billion in annual revenues to Africa’s economy.
2. Acumen Fund
Acumen is a charity oorganizationincorporated in 2001 with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and three individual philanthropists.
The Acumen Fund invests in entrepreneurs who have the capability to bring sustainable solutions to big problems.
3. Seedstars Africa
Seedstars Africa is a member of Seedstars Group, a Swiss-based venture builder that is active and invests in 35+ countries around the world especially in emerging markets in Asia, South America, The Middle East and Africa.
Seedstars recently invested $330,000 in SimplePay, a young Nigerian third-party payment processing company that has created a solution which will likely disrupt payment services in Nigeria and Africa.
more at http://www.dailydigest.ng/access-funds-for-business/