Starting, Managing, or Expanding your business with limited capital availability? Don’t worry, we’ve got you, below are list of grants you can apply for to actualize your business goals.
A word of advise, ensure in your application you highlight the value proposition of your business, and for most of these grants, if your business delivers a social impact, that’s a bonus. Good luck!
- African Leadership Academy’s Anzisha Prize: this entrepreneurship program is open to Africans between the ages of 15 and 22 years. The participants must be the founder of an existing business. The benefits of this program are Entrepreneurial Leadership training, free consultation and mentorship services as well as a share in $100 000 funding.
- She Leads Africa: This program is open only to female entrepreneurs in Nigeria and applicants must be between 18 and 35 years of age with an existing business based in Nigeria. The benefits include; media coverage to raise your profile, access to Nigeria’s best business minds, and 2 million Nigerian Naira in investment capital.
- Agric business Africa Window: this program is made available to private companies worldwide who have innovative business ideas in the fields of agric business, financial services and value chains that will benefit rural communities in Sub-Saharan Africa.
- Enhancing Growth in New Enterprises: this is funded by the UK Government and it seeks to equip Micro and Small Enterprises (MSEs) with the necessary skills and resources. Applicants must be Ghanaian citizens and of about 20 years or older with a proposition for an expansion on an already business or new business based in Ghana. Benefits include; capital to move the business forward, opportunities for expansion, and links to financial institutions.
- Tony Elumelu Entrepreneurship Programme: this program offers up to USD 100 million for young African entrepreneurs. The participants must be up to 18 years old and have an existing business up to 3 years old. Benefits include; 12 weeks of intensive training, mentoring, and seed capital.
- Ashden International Awards for Entrepreneurs in Developing Countries: this is one of the world’s biggest energy awards, which rewards innovative enterprises and entrepreneurs by playing a key part in enabling the delivery of sustainable energy systems and help build a low-carbon future. Benefits include; $20 000 to the winner in each of the six categories selected.
- LSTEF: The Lagos State Employment Trust Fund with a capital base of N11.1 billion, has disbursed grants of N7.3 billion to over 10,000 small and medium scale businesses. Its fund is divided into two categories; micro and small businesses. Under the micro category, a business can access up to N500,000 with a 5% interest rate and a single year tenor, while the small business category, business owners can access up to N5,000,000 with a 3 year tenor.
- BOI Funds: The BOI funds cater to entrepreneurs of all levels and various sectors. To access the BOI grants you simply have to visit their websites and follow the application process. Their rates are affordable when compare with other institutions.