Business Grants for African entrepreneurs

Below we at TINA Magazine present you an important list that would be useful to many. We are going to show you below which companies and brands currently doing the most to invest in Africa and help entrepreneurs grow.

Many African entrepreneurs who need capital are just not aware of the range of options and possibilities available to them.

In my experience, capital is actually abundant and available for those entrepreneurs who know where to look for it, and know what to do to get it. Over the last decade, more capital has been flowing into Africa like never before. It’s coming from the US, Europe, the Middle East, and China.

And a lot of it is coming from within Africa itself.

List Of Top African Investors 2018

Below is a list of organizations with business grants for african entrepreneurs 2018:

1. Google Station

Google and three strategic partners have committed to investing a combined $100 million in a broadband infrastructure project to benefit African cities, with fast and reliable internet capabilities in the pipeline.

The agreement signed between the four investors, Google, pan-African ICT–focused private equity firm Convergence Partners, the International Finance Corporation (IFC), and Japan’s second-largest trading house, Mitsui & Co, sees the creation of a new entity known as CSquared.

Google Station, the web giant’s public wifi service, has gone live in Nigeria in 2018.

As it has done in four other countries—India, Indonesia, Mexico and Thailand—where the service has been launched, Google will partner with local service providers for infrastructure and locations while it offers a cloud-based platform and devices to provide and manage hot-spots. Google Station locations will include high footfall areas such as malls, airports and schools. Already live in four locations in Lagos, the service will be expanded to 200 locations across five additional Nigerian cities—Port Harcourt, Abuja, Kaduna, Enugu, Ibadan—by the end of 2019.

The wifi service is not the Google’s first internet access-focused initiative in Africa. In Ghana and Uganda, it has launched Project Link through which it builds fiber-optic networks to help local internet service providers and mobile operators provide faster broadband. The company is also in talks with telecom operators in Kenya to launch Project Loon, an ambitious plan to beam internet to users using solar-powered high-altitude balloons. Facebook also has a history of internet access projects in Africa, including Express wifi and Free Basics.

While these projects are couched as moves to help more Africans come online, they are also plays to increase revenue. Increased internet access means more Africans will spend time online, likely using tech companies’ products and thus driving revenues through advertising and paid services.

No international business grants Africa, but they are doing quite goo.

2. Seedstars World

Giraffe, a South African startup, received $500,000 at the 2016 Seedstars competition.

Seedstars is a Swiss-based venture builder that organizes the annual Seedstars World competition, one of the biggest seed stage startup competitions for emerging markets.

SEE ALSO:  DR. Congo rolls out prototype Ebola drugs as death toll rises to 67

It is active in 35+ countries around the world and invests in young startup businesses in Asia, South America, the Middle East and Africa.

The annual competition starts with a continental tour where participants from over 25 cities across Sub-Saharan Africa compete in local competitions. The winner from each country is invited to the finals at the Seedstars Global Summit in Switzerland to compete for up to $500,000 in equity investment and additional multiple prizes and perks.

In 2014, Seedstars invested $330,000 in SimplePay, a young Nigerian third-party payment processing company. Definitely one of the companies willing to invest in Africa

3. The Chan Zuckerberg Initiative

In 2016, Zuckerberg visited Africa for the first time, and invested $24 million in Andela.

The Chan Zuckerberg Initiative was founded by Facebook founder, Mark Zuckerberg, and his wife, Priscilla Chan.

With a pledged endowment of 99% of their Facebook shares (valued at $45 billion), the mission of this organisation is to “advance human potential and promote equality.”

In 2015, Zuckerberg invested $10 million in Bridge International Academies, a private education franchise that runs a chain of affordable private elementary schools in East Africa.

In June 2016, the Chan Zuckerberg Initiative invested $24 million in Andela, a startup that trains African engineers and programmers, and outsources them to top tech companies in the USA and Europe.

Mark Zukerberg’s surprise first visit to Sub-Saharan Africa in 2016 was a strong external validation of Africa’s fast emerging startup landscape. During the trip, the Facebook CEO — who is one of the world’s richest men — visited startup innovation hubs in Lagos and Nairobi.

Zuckerberg represents a growing number of successful Western entrepreneurs who are investing in African ventures with a high-impact potential.

In 2016, Giraffe – a South African startup business that provides low-cost automated recruitment solutions – beat 63 other startups from 55 countries to win the grand prize of $500,000 in equity investment funding. One of the private investors for Africa.

4. Investment AB Kinnevik

Kinnevik invested $25 million in Nigeria’s Konga, an e-Commerce company.

Based in Sweden, Investment AB Kinnevik was founded in 1936 and is one of the largest listed investment companies in Europe with total assets of $7 billion.

Over the past few years, the firm has invested significantly in businesses in Africa. Some of its most notable investments on the continent include: Millicom, Tele2, Jumia, MTG, Konga, Rocket Internet, Iroko Partners and several others.

AB Kinnevik is a major investor in emerging markets like Africa. As a result, about 8 percent of its portfolio consists of African businesses.

It primarily invests and focuses on entrepreneurs and businesses in the following business segments: Communications, Ecommerce & Marketplaces, Entertainment and Financial Services and others.

In January 2014, AB Kinnevik invested $25 million in Konga, one of Nigeria’s leading e-Commerce businesses. If you are looking for opportunities for african graduates they offer one of the best

5. Innovation Prize for Africa

Dr. Ali El-Shafei from Egypt received $100,000 at the 2017 IPA finals.

The Innovation Prize for Africa is an annual grant provided by the Africa Innovation Foundation to inventors and innovators with breakthrough ideas and solutions that could positively impact Africa.

SEE ALSO:  African Dictators 2018: List Of African Dictators Still In Power

Each year, 10 nominees are selected through a rigorous process overseen by an expert panel of judges. The top three innovations are selected and receive a share prize of $150,000, with each nominee receiving a $ 5,000 voucher.

The foundation only accepts applications from, and awards grants to, entries in five priority areas: agriculture and agribusiness; environment, energy and water; health and well-being; ICTs; manufacturing and services.

In 2016, Dr. Valentin Agon from the Republic of Benin won the prize for his invention — Api-Palu — an anti-malaria drug treatment made from natural plant extracts that is significantly cheaper than available anti-malarial drugs on the market.

In 2017, Dr. Ali El-Shafei from Egypt won the $100,000 grand prize for his SEMAJIB innovation, a versatile magnetic smart bearing which has interesting applications in electricity generation.

6. Tony Elumelu Entrepreneurship Program

The TEEP program sponsors 1,000 African entrepreneurs every year.

The Tony Elumelu Entrepreneurship Program (TEEP) is backed by a $100 million fund from the Tony Elumelu Foundation.

Founded by Mr. Tony Elumelu, the successful Nigerian entrepreneur and philanthropist, the program selects 1,000 entrepreneurs from across Africa every year for a program of training, mentoring and funding.

The fund expects that the 10,000 start-ups and young businesses selected from across Africa over a ten-year period will ultimately create one million new jobs and add $10 billion in revenues to Africa’s economy.

The TEEP Fund focuses on citizens and legal residents of all 54 African countries. Applications can be made by any for-profit business based in Africa in existence for less than three years, including new business ideas.

All participants in the program receive a $5,000 seed investment in their business. They give amazing opportunities for african, entrepreneurs 2018

7. Omidyar Network

Omidyar Network invested $1.8 million in East Africa’s Bridge Academies.

Omidyar Network is a philanthropic investment firm that comprises a foundation and an impact investment firm. It invests in both for-profit and non-profit organisations across the world.

Founded by Pierre Omidyar, the billionaire and founder of eBay, the firm opened its Africa office in 2013 and has invested over $50 million in several ventures across Africa through grants and equity investments.

In 2009, the firm invested $1.8 million in Bridge International Academies, a for-profit company that runs a network of low-cost primary schools in East Africa.

In 2014, Omidyar Network gave $400,000 to BudgIT, a start-up that provides Nigerian citizens with access to and understanding of public budgets.

In collaboration with Echo VC in 2015, Omidyar Network invested $1.2 million in Hotels.ng, a Nigerian online hotels listing and booking startup.

The firm focuses on businesses and organisations that have high social impact potential, and provides grants and equity investments up to $4 million. They give one of the best grants for entrepreneurs in africa 2018

8. International Finance Corporation

The IFC invested $3 million in Madagascar’s SMTP Group.

The International Finance Corporation, or IFC as it’s commonly known, is a development finance institution and a member of the World Bank Group.

It is the largest global development institution focused exclusively on the private sector in developing regions of the world like Africa.

The IFC has invested more than $25 billion in African businesses and financial institutions, and its current portfolio (in 2017) exceeds $5 billion.

SEE ALSO:  Africa True Story : Chinese Racism & Abuse Of Kenyans in Kenya

A company or entrepreneur seeking to establish a new venture or expand an existing enterprise can approach IFC directly by submitting an investment proposal to the field office closest to the location of the proposed project.

In 2015, the IFC invested $3 million in Madagascar’s SMTP Group for the expansion of its poultry business in the country.

In 2016, the IFC provided a $7.5 million equity in Zoona, a financial services business that provides in-country and cross-border money transfers in Zambia, Malawi and Mozambique.

9. African Women’s Development Fund

The AWDF supports women with funding and capacity development.

The AWDF is the first pan-African women’s grant maker in Africa. Since the start of its operations in 2001, AWDF has provided $17 million in grants to 800 women’s organizations in 42 African countries.

The AWDF is an institutional capacity-building and programme development fund, which aims to help build a culture of learning and partnerships within the African women’s movement.

In addition to raising money and awarding grants, the AWDF also helps to strengthen the organisational capacities of its grantees.

The AWDF only awards grants to organisations, not individuals. It awards grants ranging from $8,000 up to $50,000.

10. Bill & Melinda Gates Foundation

The World’s richest man’s foundation invests millions of dollars in Africa every year.

The Bill & Melinda Gates Foundation is a private foundation founded by billionaire Bill Gates and his wife, Melinda.

The foundation was launched in 2000 and is said to be the largest transparently operated private foundation in the world, with an endowment of $44.3 billion as of December 2014.

The foundation maintains three offices in Africa—in Ethiopia, Nigeria, and South Africa, the countries where it devotes the largest share of its resources and expertise. However, the foundation also has a presence in Kenya, Tanzania, Ghana, Senegal, Zambia, and Burkina Faso.

In 2016, the foundation awarded a grant of $4.48 million to Sidai Africa, a social enterprise operating in the livestock sector in Kenya.

In June 2017, the foundation awarded a $2.4 million grant to Sanergy, an organization that provides hygiene and sanitation solutions to people who live in urban slums.

11. Helios Investment Partners

Helios invested $10 million in Tanzania’s Offgrid Electric, a solar energy startup.

Founded in 2004, Helios Investment Partners is a private equity and venture capital firm that invests in Africa, with a focus on Nigeria, South Africa, and Kenya.

With a fund of $3 billion under management, the firm typically invests between $15 million and $200 million in an individual transaction.

It focuses on businesses in telecommunications, media, financial services, power, utilities, travel, leisure, distribution, fast moving consumer goods, logistics, and Agro-allied sectors.

In 2010, Helios invested $92 million in Interswitch, a Nigerian payment services provider.

In 2016, the firm invested $10 million in OffGrid Electric, a solar energy company in Tanzania that’s spreading across East Africa.

Its other investments on the continent include MallforAfrica, Bayport, Equity Bank, GB Foods and several others.


COMMENTS: LEAVE A REPLY BELOW

  Subscribe  
Notify of