Flutterwave is Giving $2,500 Grant Each to Women-Owned Businesses in Africa

Flutterwave is Giving $2,500 Grant Each to Women-Owned Businesses in Africa

We reported recently that Flutterwave has secured $170million in its series C funding, setting the African tech industry buzzing, and thereby cementing the company’s status as a unicorn. The fintech company has announced that it would award US$2,500 grant each, to women-led businesses in commemoration of International Women’s Day 2021.

The company said it recognizes the challenges African women face as they carry out their businesses and they are launching the annual grant to provide women with the much-needed capital to expand their businesses.

The company noted that the single most important factor in fostering equality for women in the business space is access to capital, and providing this grant to female-led business in Africa is how they #ChooseToChallenge inequality and raise awareness on bias against women.

In addition to the grant, the company will also be providing training and mentorship programmes to the beneficiaries. The company very rightly pointed out that supporting women businesses will bring about increased yields and long term benefits for the local economy as it will translate to supporting thousands of their immediate households, communities and the national economy.

This grant is available to women-led businesses in the following countries:

  • Nigeria
  • Ghana
  • Kenya
  • Uganda
  • South Africa
  • Rwanda
  • Zambia

To be eligible for the grant, the business must;

  • be viable and sustainable
  • be a new or already existing customer of Flutterwave
  • be women-led, and be legally and locally registered with the relevant authorities.

Other terms and conditions can be accessed here.

Grant winners will be awarded the sum of US$2500. They will also be supported with free video content creation and online visibility, through paid and organic channels.

Winners will also get access to an exclusive group where they will be trained and mentored through office hours by top entrepreneurs in their fields. Mentors will be selected from 7 countries, in subjects covering Technology, Marketing, Finance, Sales, Operations, Investment, and more.

The deadline for submission of the application is April 9th 2021.

The winners of the prize will get a notification 2 weeks after the close of the application.

Interested business owners can click here to send in their application.

Women are now being recognised as the backbone of the African economy and the Flutterwave grant for female-led businesses is very timely and essential to the growth of SMEs in Africa. According to the Africa Development Bank (AfDB), women in Africa face a $42 billion financing gap and this grant will help quite a bit in bridging that gap and bringing about the much needed access to capital and visibility for women-led businesses.