Are you an African Entrepreneur? have you been looking for startup grants to fund your business or business idea? then you are at the right place. In this article we will be listing out the best business grants for African entrepreneurs, there are so many business grants or loans you can get as an African entrepreneur but in this post, we will be listing out the easiest, best and highly funding programs applicable to you.
Top 5 best business grants for African Entrepreneurs
1. Africa Business Heroes Prize 2022
Applications for the 2022 Africa Business Heroes Prize are currently ongoing. The Africa business heroes prize is an initiative courtesy of the Jack Ma Foundation, and its main purpose is to support innovative African entrepreneurs. Over the last four years, many entrepreneurs have emerged winners and benefitted from the $1.5 million grant funding. Applicants for this competition also get to have access to mentoring and training programs designed to help them improve their creativity. The deadline for submission of your application is June 26, 2022 If you want to participate in the Africa Business Heroes Prize 2022 then Click here to Apply.
2. Access bank Womenpreneur Pitch-a-ton Africa
This is another excellent grant for African entrepreneurs, explicitly designed for women entrepreneurs. This opportunity is only applicable to women entrepreneurs across the nine African countries where Access Bank operates. These include Nigeria, Ghana, Rwanda, Zambia, Sierra Leone, Gambia, Kenya, Mozambique, South Africa, and Congo.
Successful applicants stand the chance of winning grants as well as undertaking a mini MBA program. The program usually lasts for three months. During the program, there will be pitching sessions and the mini MBA training in collaboration with the International Finance Corporation.
Applications for the Womenpreneur Pitch-a-ton Africa 2022 are currently ongoing until August 2022. You can click here to apply
3. GrowFin Fund
GrowFin fund is one of the business grants for African entrepreneurs. They fund entrepreneurs helping them to grow their medium-sized enterprises. The service is available in more than 10 African countries and was established in 2004. Since its establishment, GrowFin has funded more than 700 small businesses across Africa.
To know more about Growinfin fund eligibility, requirements and funding you can click here to start your application
4. United States African Development Foundation Grants
This is a US agency that provides various kinds of grants and development aids to African entrepreneurs. USADF does development differently by utilising a community-led development approach and a pan-African network of local implementing partners to support African-designed and African-delivered solutions. USADF provides grant capital, capacity-building assistance, and convening opportunities to develop, grow and then scale African enterprises and entrepreneurs who improve lives and livelihoods.
Over the years, USADF has impacted lives and livelihoods in over 40 African countries.
For more information on how to apply for the grant, visit USADF’s website apply.
5.Tony Elumelu Foundation (TEF) grant
The Tony Elumelu Foundation (TEF) started in 2010 and it is a leading philanthropy empowering young African entrepreneurs across all 54 African countries. Since 2015 the TEF Entrepreneurship Programme has funded African entrepreneurs with business ideas or existing businesses under 5 years with $5000 seed capital, mentorship, business management training, and more.
In 2021, the Tony Elumelu Foundation disbursed USD$24.75 million to 5000 African entrepreneurs across Africa for its 2021 Entrepreneurship Programme. TEF remains one of the largest private-sector responses to driving the economic recovery of African youths, women, and SMEs given the effects of the covid19 pandemic across Africa. Across Africa, the TEF Programme beneficiaries are starting and growing trailblazing businesses that have created over 400,000 direct and indirect jobs.