African Development Bank invites business enablers to apply for funding to support Women SMME's

hustlersnetworking
May 14, 2021
2 min read

About the Opportunity

This May, the African Development Bank Group is launching a call for proposals for projects enhancing the viability and sustainability of women entrepreneurship enablers.

Women’s business associations, incubators, accelerators, and cooperatives that advance women’s entrepreneurship, can apply for funding for innovative projects or programs to bolster the skills of small and medium enterprises (SMEs) owned and run by women across Africa, the Bank announced.

Entrepreneurship enablers, which include business associations and civil society organizations, play an important role in empowering women to establish bankable SMEs and other businesses. However, the enablers themselves often face challenges, such as long-term growth plans and lack of financing, which reduce their reach, impact, and sustainability.

The Bank will assess applicants’ track record in supporting women SMEs, innovation, and strong development impact, as well as their capacity to mobilize other sources of funding. Eligible organizations may request funding of between $100,000 and $250,000, provided through the Bank’s Gender Equality Trust Fund.

Applications must be received by midnight on 30 May 2021

Funding Principles and Criteria

i. The project duration should not exceed 2 (two) years for national projects and 3 (three) years for regional projects;

ii. Proposal should strive to wherever possible align with national or regional priorities on access to financial services/financial inclusion for WSMEs;

iii. Recipients and project sponsors should be Africa-based or provide evidence of partnership with African entities and show that the proposed activities, operations, and projects will be implemented in Africa.

iv. While not an eligibility requirement, particular attention will be paid to potential projects which benefit two or more countries and regions as this will strengthen 3 regional integration and maximize the impact of resources. Due account will also be taken of the economic and social development plans of regional member countries;

v. Applicants must be legally constituted institutions that have been in existence for at least three years.

While all countries will be considered, proposals from the following countries that already align with the ongoing AFAWA Guarantee for Growth Program pipeline are strongly encouraged to apply: Cameroon, Congo-Brazzaville, Democratic Republic of Congo, Gabon, Kenya, Lesotho, Madagascar, Malawi, Morocco, Mozambique, Senegal, South Africa, Tanzania, Rwanda, and Zambia