Gather 1,000 businesses in Africa and ask them their major challenge, I wouldn’t be surprised to read that about 95% of them will say funding is their major problem. If you come down a bit and ask many who have business ideas about why they haven’t started the business, the result will be identical: Funding!!! This is why I want to show you the top international business funding for Africans businesses.
There are many international organisations and individuals who have taken it upon themselves to provide financial support for Africa businesses and startups. As you should expect, they will each have their own requirements and eligibility before the release of the funds. Some of these firms and organisations offer financial support in their millions.
After showing you these international business funding for Africans, you shouldn’t have any more excuse why you should not apply to them to get financial support for your business.
Top 10 International Business Funding For Africans
Here they are
Is that second name familiar? Are you thinking about what it is already? You are smart. The Chan Zuckerberg Initiative is an organisation founded by, guess who, Mark Zukerberg and Chan Zuckerberg. You guessed right. This organisation has been in the vanguard of providing funding for businesses in Africa.
As a matter of fact, they pledged a whopping 99% of their Facebook shares to advance human potential and promote equality. That is estimated to be in the region of $45. You can do the maths.
As of 2016, they have invested about $24m in Andela (a startup in Africa that trains African engineers and programmers).
This is another firm that gives business fundings to Africa. Seedstars Africa is a part or member of the Seedstars Group. They are a Swiss-based organization that seeks to help businesses and startups in Africa, Asia and other parts of the world. They do this by organising a competition.
Furthermore, they run competitions whereby business startups compete until winners emerge who will be crowned winners and given business funding. The competition starts at the local level to the regions before moving to the grand finale in Switzerland.
This is a foundation that exists primarily to support women organisation who work towards the empowerment of African women. They are basically focused on women. It started its operation in the year 2001. Within this period, it has given about $17 million in grants to 800 women’s organizations in 42 African countries.
The AWDF offers grants. This grant ensures resources reach the hundreds of African women’s organisations that are working in diverse ways to improve the lives of women and African society at large. Their focus is actually on women-empowerment organisations who are doing wonderfully well in supporting and empowering women.
Tony Elumelu is one of the best-known business funding foundations in Africa. This foundation began operations in 2010. It began giving business funds in the year 2015. The application for the TEF entrepreneurship program is very competitive. This is because successful applicants are usually supported with a huge amount of money to kickstart or scale up their businesses.
Furthermore, the TEF provides not just financial grants, they also offer continuous mentorship and business coaching to the winners. This is to ensure that they effectively maximize the grant they won.
This firm is based in Sweden and was founded in the year 1936. They have their focus on supporting Africa businesses in the area of eCommerce, marketplace, finance, entertainment etc. Just like I pointed above, they have supported Konga, iroko, Tele2, Jumia, MTG etc.
Another organisation that offers international business funds for Africa is the Africa Innovation Foundation. They offer what is known as the Innovation Prize for Africa. This is an annual grant to African inventors and innovators who have innovative ideas that have the capacity to impact Africa.
Annually, they select 10 nominees through a panel of expert judges. From these 10 nominees, they will select just 3 of the best and give them a prize worth $150,000. Each nominee will also receive a $5,000 voucher. In application, they give you priority to agriculture, environment, health, ICT, energy and water, and manufacturing and services.
The Omidyar Network was founded by Pierre Omidyar, the founder of eBay. This organisation is given to philanthropism. It is one of the foundations that offer financial support to businesses in Africa. It began operating in the year 2013. Within this period, it has already invested about $50 million in different businesses in Africa.
Some of the businesses it has supported include BudgIT, Hotels.ng etc.
So, you now have the list of organisations that offers International Business Funds For Africans. If you found this valuable, kindly share to help others who might need it.