Are you a female entrepreneur in Nigeria with a dream to start or grow your business? Well, you’re in for a great show in your entrepreneurial journey! There are quite some organizations that give grants to female entrepreneurs in Nigeria and in Africa.
In this comprehensive guide, we’ll walk you through organizations where you can get grants for your business funding.
These organizations provide grants that are designed to give your business a financial boost, and provide you with the resources and opportunities you need to turn your entrepreneurial dreams into reality.
Table of Contents
Organizations In Africa that Provide Funding for Female Business Owners
Business funding has changed the lives of so many individuals.
For instance, some grant recipients have used the funding to start innovative technology, agriculture, and fashion businesses.
Different success stories underscore the transformative impact of these grants, showcasing how they’ve empowered women to overcome challenges and achieve remarkable entrepreneurial success.
Here are organizations in Africa that provide business funding for women who want to go into business:
- Dazzle Angels
- Rising Tide Africa
- Afri Trust Group
- Women Investment Club Senegal
- Khula Lula
1. Dazzle Angels
Dazzle Angels is an angel investor company run by a group of women who invest in early-stage tech companies started by other women. They’re interested in businesses that use technology to solve problems in education, health, finance, software, farming, tourism, and the Internet of Things. They’re based in South Africa and usually invest between $25,000 and $50,000 in each company.
2. Rising Tide Africa
Rising Tide Africa, also an angel investor, is run by women that invest in early-stage African tech companies. They’re part of a bigger global effort to help women succeed in African businesses. These women use their money, connections, and knowledge to support new and growing tech companies in Nigeria. They typically invest between $50,000 and $500,000.
3. Afri Trust Group
Afri Trust Group is a group that invests in early-stage companies started by women in Africa. They focus on helping these women entrepreneurs grow businesses and connect with customers and markets. They’re based in South Africa.
4. Women Investment Club Senegal
Women Investment Club Senegal is a group that invests in businesses owned and run by women in Senegal. They want to help these women entrepreneurs grow their businesses by giving them money.
5. Khula Lula
This is a company that helps African women start and grow tech businesses. They give these businesses small loans of between $10,000 and $25,000. They’re based in South Africa.
Starting and scaling a business can be challenging, especially for women as they face unique challenges in the business environment of Africa and the world at large.
However, various organizations and government bodies in Nigeria and Africa recognize the immense potential of female entrepreneurs and are committed to fostering their growth.
If want to get funding from any of these organizations mentioned above, do well to visit their websites for details on their grants requirements.
How to Increase Your Chances of Securing These Grants
These grants address the financial and logistical barriers that often hinder women from pursuing their entrepreneurial aspirations. Securing a grant as a businesswoman in Nigeria requires careful planning and preparation.
First and foremost, it’s essential to thoroughly research each grant program’s eligibility criteria and application process.
Secondly, tailor your business plan to align with the specific goals and objectives of the grant you’re applying for. Ensure that your plan clearly outlines your business idea, its potential impact, and how the grant funds will be used.
Also, connect with and seek mentorship from past grant recipients or successful entrepreneurs, this can also be immensely helpful.
Build a strong support system and demonstrate a commitment to your business’s growth. This can impress grant selection committees.
Lastly, pay close attention to deadlines, and ensure your application is complete and error-free.
Common Business Challenges Faced by Female Business Owners
Female entrepreneurs in Nigeria and Africa at large, face various challenges, including limited access to capital, societal expectations, and gender biases.
These challenges often hinder their ability to start and grow businesses. These grants available for female entrepreneurs play a pivotal role in addressing these issues.
They provide financial resources, mentorship, and training programs specifically to the unique needs of female entrepreneurs.
By offering funding and support, they help women overcome the capital barrier.
Additionally, grants encourage female entrepreneurs to break free from traditional roles, empowering them to take on leadership positions in various industries.
Furthermore, these grants foster a supportive ecosystem that connects female entrepreneurs with successful mentors and networks, helping them build essential skills and confidence to navigate the business landscape successfully.
Ultimately, they contribute to bridging the gender gap in entrepreneurship and promoting economic growth in Nigeria.
Top 15 Grants for Female Entrepreneurs in Nigeria 2024
These grants are designed to provide you with the financial boost, resources, and opportunities you need to turn your entrepreneurial dreams into reality. Carefully look at these grants and swing into action ASAP.
Remember, most of these grants are seasonal and annual. Make sure you follow the organizations giving these grants for updates on their grants timings.
Top 15 grants for female entrepreneurs in Nigeria:
- SheTrades Nigeria Grant.
- Women Entrepreneurship Fund (WEF).
- Access Bank W Power Loan.
- Tony Elumelu Foundation (TEF) Entrepreneurship Programme.
- Federal Government Grants for Women in Agriculture.
- Abdul Lateef and Sanni Foundation Womenpreneur Program 2024 (Nigeria).
- Microsoft for Startups.
- BIC Africa Acceleration Programme 2024 .
- MTN Foundation Y’ellopreneur.
- Africa’s Business Heroes 2024.
- L’Oréal-UNESCO For Women in Science International Awards.
- HiiL Justice Accelerator Programme.
- BRAVE Women Nigeria.
- Orange Corners Nigeria Incubation Programme.
- FATE Foundation Business Resilience Programme for African Women Entrepreneurs.
1. SheTrades Nigeria Grant
The SheTrades Nigeria Grant is a groundbreaking initiative aimed at promoting gender-inclusive trade and entrepreneurship.
This grant offers financial support, mentorship, and access to global markets for female entrepreneurs.
With this grant, you can expand your business internationally and make your mark in the global marketplace.
2. Women Entrepreneurship Fund (WEF)
The Women Entrepreneurship Fund is another fantastic opportunity for female entrepreneurs in Nigeria.
This grant is provided by the Nigerian government and is specifically designed to empower women in business.
It offers financial assistance to kickstart or scale your venture, enabling you to invest in equipment, training, and marketing to boost your business’s success. It is one of the most consistent grants for female entrepreneurs in Nigeria.
3. Access Bank W Power Loan
Access Bank’s W Power Loan is a financial lifeline for businesswomen looking to fund their businesses.
This loan facility offers favorable interest rates and flexible repayment terms, making it an excellent choice for women seeking financial support without the burden of high-interest payments.
4. Tony Elumelu Foundation (TEF) Entrepreneurship Programme
The Tony Elumelu Foundation (TEF) Entrepreneurship Programme is a prestigious grant that empowers entrepreneurs across Africa, including Nigeria.
While not exclusively for women, it is a remarkable opportunity for female entrepreneurs to access funding, mentorship, and training to take their businesses to the next level.
The TEF Entrepreneurship Programme has a strong track record of transforming innovative ideas into successful enterprises.
5. Federal Government Grants for Women in Agriculture
If you are passionate about agriculture, the Federal Government Grants for Women in Agriculture are made to your needs.
Nigeria’s agricultural sector holds enormous potential, and this grant is designed to empower women to play a significant role.
Whether you’re interested in crop farming, livestock, or agribusiness, this grant can provide the necessary financial support and training to thrive in the agricultural sector.
6. Abdul Lateef and Sanni Foundation Womenpreneur Program (Nigeria)
This initiative empowers women entrepreneurs in Nigeria through comprehensive mentorship, tailored training programs, and substantial funding support. To apply, visit Womenpreneur Program 2024.
7. Microsoft for Startups
Microsoft for Startups Microsoft’s startup initiative offers diverse resources, including financial backing, technical support, and access to global networks, to empower female-led startups around the world.
8. BIC Africa Acceleration Programme 2024
The BIC Africa Acceleration Programme offers a comprehensive package of support, including funding, mentorship, and access to resources, to accelerate the growth and impact of startups across Africa, particularly those led by women.
9. MTN Foundation Y’ellopreneur
MTN Foundation’s Y’ellopreneur program focuses on empowering female entrepreneurs in Nigeria through financial support, mentorship, and capacity-building initiatives.
10. Africa’s Business Heroes 2024
Africa’s Business Heroes 2024 offers substantial grants, tailored training programs, and extensive networking opportunities to support female entrepreneurs across Africa in scaling their ventures.
11. L’Oréal-UNESCO For Women in Science International Awards
This esteemed award celebrates and supports women researchers worldwide, providing funding and recognition for their groundbreaking scientific contributions.
12. HiiL Justice Accelerator Programme
HiiL’s Justice Accelerator Program provides funding, mentorship, and support to startups focused on legal innovation, including initiatives led by female entrepreneurs.
13. BRAVE Women Nigeria
Imagine the benefits N11.2m would add to your business. The good news here is, it’s not just a mere imagination, this is one real and ready funding opportunity. You could turn your imagination into reality because Brave Women Nigeria has decided to splash N11.2m on Female Entrepreneurs in Nigeria. You can also smash that business goal by applying for this loan opportunity for female entrepreneurs today.
Application Deadline: Unspecified
14. Orange Corners Nigeria Incubation Programme
The 8th cohort of the Orange Corners Nigeria Incubation Programme is now and it seeks to support budding entrepreneurs. It is a 6-month incubation program however but successful participants will receive funding of up to 40,000 Euros (N34m naira equivalent) after the programme. Benefits: N34 million grant.
15. FATE Foundation Business Resilience Programme for African Women Entrepreneurs
FATE Foundation in partnership with Google.org on the 19th of January launched its $1 million funded Business Resilience Programme (BRP) for female entrepreneurs in Nigeria, Kenya and South Africa.The perk of this programme is that 200 female entrepreneurs will be supported with grants upon successful participation.
Other benefits also include free business registrations, free access to the FATE business plan developer tool and a certificate of completion.
Conclusion
In conclusion, the grants discussed in this article are valuable and can significantly impact your entrepreneurial journey as a woman in business.
These grants provide the financial support, mentorship, and training needed to succeed in the competitive business landscape.
As a woman, you have the opportunity to turn your dreams into reality with the support of these empowering grants.
Now that you’re armed with this knowledge, take the first step towards realizing your business goals by applying for the grant that aligns with your aspirations.
With determination, hard work, and the right support, you can thrive as a female entrepreneur in Nigeria’s dynamic business environment. These grants for female entrepreneurs in Nigeria should aid you.
Frequently Asked Questions
How can I apply for these grants?
To apply for these grants, visit the respective organizations’ websites and carefully follow their application guidelines. Be sure to prepare a strong business plan and meet all the specified eligibility criteria.
Are these grants only for startups, or can existing businesses also apply?
Both startups and existing businesses may be eligible for these grants. However, eligibility criteria may vary, so it’s essential to review the specific requirements for each grant.
What documents do I need to prepare when applying for these grants?
While the required documents may vary, you typically need a well-structured business plan, financial statements, proof of business registration, and personal identification documents.
Can I apply for multiple grants simultaneously?
Yes, in most cases, you can apply for multiple grants simultaneously. However, make sure to check each grant’s guidelines to ensure there are no restrictions on multiple applications.
Is there any cost associated with applying for these grants?
Most grants do not charge an application fee. Be cautious of any organization that requests money upfront in exchange for a grant application.
What should I do if my grant application is not successful?
If your initial application is not successful, don’t be discouraged. Seek feedback, improve your business plan, and consider reapplying in the future. Additionally, explore other funding opportunities and resources that can help you grow your business.
References
- Funding opportunities for female entrepreneurs in Nigeria
- Where female entrepreneurs can get funding for their tech businesses
Blessed is a dedicated grants and business funding researcher with a keen eye for uncovering opportunities. With a background in digital marketing and social media management, she brings a unique perspective to her work. Blessed is passionate about helping individuals and businesses secure the funding they need to achieve their goals. Her expertise and dedication make her a valuable resource for anyone seeking financial support.
