AWIEF: Call for applications for Growth Accelerator programme

The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has partnered with the African Guarantee Fund (AGF) and FSDH Merchant Bank Limited to implement its flagship AWIEF Growth Accelerator programme in Nigeria.

Background

Limited access to finance remains a significant barrier for women entrepreneurs in Africa, with a staggering financing gap estimated at US$49 billion. To address this challenge, the Growth Accelerator Programme leverages the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative, which aims to unlock up to US$3 billion in financing for women-owned/led small and medium-sized enterprises (WSMEs) across the continent.

AGF, a leading non-bank financial institution whose objective is to promote economic development, increase employment and reduce poverty in Africa, serves as the implementing partner for AFAWA. AGF’s commitment extends into providing technical assistance to partner financial institutions, enhancing their capacity to serve women-owned businesses effectively. By addressing both supply and demand-side constraints, AGF and AFAWA work in tandem to create a more equitable landscape for women entrepreneurs in Africa.

FSDH Merchant Bank Limited’s partnership with AGF is backed by AFAWA to enable the partner financial institution to provide loans to WSMEs in Nigeria. FSDH Merchant Bank Limited is dedicated to empowering women in business across the country and drives its gender strategy through its Women in Business Initiative.

The tri-party collaboration between AWIEF, AGF and FSDH Merchant Bank Limited was created with the aim to increase access to finance for WSMEs that are driving solutions in different catalytic sectors in Nigeria. This will be achieved by making the WSMEs credit and investment-ready and eligible to access business loans and financing from FSDH Merchant Bank Limited. The programme will provide a stream of businesses that are adequately prepared to meet the FSDH Merchant Bank’s credit requirements.

Call for applications

Applications are open to qualifying businesses. The programme will attract and select a cohort of 100 beneficiaries, comprising women entrepreneurs and founders with businesses registered and operating in Nigeria who will participate in the 12-month Growth Accelerator and will benefit from a wide range of tailored and refined business development mentorship, training and advisory services.

Eligibility criteria

Businesses must meet ONE of the following criteria:

Entrepreneurship & Ownership:

51% share of women ownership OR business founded by a woman.

OR

Leadership:

At least 20% share of women in senior management or 10% share of women on the board.

OR

Products & Services:

Product(s) or service(s) enhance(s) well-being of women/girls and/or drive(s) gender equity.

Additionally, businesses must be:

• Based and operating in Nigeria.
• In post-revenue stage.
• Highly innovative and scalable ventures.
• In operation for not less than three years.
• Owned and/or led by ambitious and committed entrepreneurs.
• Seeking for investment, credit or financing to scale and expand.

What are the benefits for participants?

• Access to high-level training, mentorship and business advisory.
• Improved technical, managerial, leadership and interpersonal skills aligned with the priority needs of their businesses.
• Increased creditworthiness and capacity to meet the AGF’s financing requirements.
• Post-capacity building and loan application support.
• Enhanced access to other financing opportunities.
• Effective integration of the WSMEs into the financial ecosystem.
• Expanded peer networks in Nigeria and across the African continent.

Applications

Applications are officially open for qualifying candidates for the AWIEF Growth Accelerator.

Submit your application here.

The deadline for submission is 31 March 2025 at 23h59 West Africa Time (WAT).