Apply for the CATAPULT Inclusion Africa Acceleration program before 15 September 2022
Apply for the CATAPULT Inclusion Africa Acceleration program before 15 September 2022
The LHoFT Foundation, a public-private sector initiative for the Inclusive Finance Network Luxembourg (InFiNe.lu), invites applicants to the Catapult Inclusion Africa Accelerator program. The program targets start-ups focusing on financial inclusion in Africa, aiming to build bridges with Luxembourg’s Microfinance Industry. The start-ups should also be aligned with the sustainability goals of Luxembourg’s finance centre.
Interested applicants are invited to apply for the 5th edition of the program, which will be held in Luxembourg from October 24-28, 2022. The acceleration program is a unique one-week boot camp supporting 10 selected fintech companies in Africa. The program covers a wide range of topics including:
- Business model mapping
- Scaling strategies
- Investment readiness
- Business plan presentation
- Legal strategy
- Pricing
- Marketing strategy
Interested participants must fulfil the following criteria to apply
- Selected firms will have, at least, a demonstrable Minimum Viable Product (“MVP”) and will likely be in the pre-seed to seed stage of funding.
- Companies must be active in the financial inclusion field, helping underserved and unbanked populations in Africa get access to financial products and services.
- Companies will submit all necessary information to the LHoFT in order to assess the viability of the project, company, background of owners and key shareholders to limit the risks of non-compliance or doubtful application to the program.
- Companies must agree and shall provide ongoing performance metrics and business status for a period of three years post program completion to the LHoFT for the purposes of program evaluation.
- The selected firm must guarantee that a founding team member, typically the CEO, will attend the program for the duration of the week.
- We are particularly interested in hearing from firms in payments and related services.
The 10 successfully selected Fintechs from the one-week boot camp will have the opportunity to connect with partners, sponsors, investors, microfinance institutions, and public financial institutions as well as access to InFiNe.lu mentorship.
To apply for this program, visit: CATAPULT Applications
Are you a digital or tech enterprise with an innovative trade or green infrastructure solution? Apply to the AUDA-NEPAD call for digital solutions before 31 August 2022
Are you a digital or tech enterprise with an innovative trade or green infrastructure solution? Apply to the AUDA-NEPAD call for digital solutions before 31 August 2022
The Africa Union Development Agency (AUDA-NEPAD), in partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), on behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ), announced a call for digital solutions for small and medium enterprises. The call seeks enterprises that provide digital solutions to support trade and/or green infrastructure. Through the programme, successful applicants will receive business development support, investment-readiness support, business-specific advisory, and capacity building.
Interested applicants will have to meet the following criteria to be considered:
- Be an early-stage business
- Be registered as a for-profit entity
- Must have a team of at least three (3) people
- Have proof of concept established either by a pilot or by similar, pre-existing projects elsewhere
- Have a business idea with a digital or tech focus
- Digital/tech must be central to the business strategy/value proposition.
- Have a focus on trade and/or green infrastructure
- Digital solution must have a demonstrable climate change adaptation (increasing resilience) or mitigation (reducing greenhouse gas emissions) impact
- Digital solution must have a beneficial environmental impact (e.g., clearing invasive species, reducing plastic waste, repurposing hazardous waste)
- Digital solution must demonstrate their impact on trade and/or trade-related activities, especially across the national border (within a country is acceptable)
- Business must be based in an Africa Union Member State with its largest market (>75% turnover) and employment base (>75% of personnel) in Africa.
For more information and application details, visit: Call for Digital Solutions
Apply for funding in the second phase of the Economic Recovery Fund (Hatana2)
Apply for funding in the second phase of the Economic Recovery Fund (Hatana)
Development Bank of Rwanda (BRD) and Business Development Fund (BDF) invite applicants for Hatana, the second phase of the Economic Recovery Fund. The Fund was launched on 18 May 2022 by the Government of Rwanda to support economic recovery for businesses affected by the COVID-19 pandemic through increased access to finance.
Through BRD, Hatana will provide much-needed funding to businesses that drive innovation, create employment opportunities, and prioritize Made in Rwanda in construction, agro-processing, textiles, and light manufacturing. The Fund is also expected to provide working capital loans to businesses that had at least a 20% reduction in sales for the past 12 months compared to pre-COVID-19.
The Fund will provide affordable financing through three windows:
- Investment (worth Rwf 150 billion)
This window will support businesses looking to expand or start a high-growth potential manufacturing business. Financing will be provided for fixed assets acquisition, operational expenditure related to building scale, and working capital.
- Working capital
This window is open to all sectors and will support your business in paying your employees and operating/fixed costs. It is meant to jumpstart production/operations after the economic slowdown caused by the pandemic.
- Refinancing (Rwf 37.5 billion)
This window will support the refinancing of existing loans in priority sectors determined by the Government of Rwanda via the Ministry of Finance and Economic Planning (MINECOFIN).
For more information on the fund, eligibility criteria, and application details, visit: Hatana (ERF2)
Apply for the GAIN-AFREXIM Masterclass on Entrepreneurship and Intra-African Trade before 31 July 2022
Apply for the GAIN-AFREXIM Masterclass on Entrepreneurship and Intra-African Trade before 31 July 2022
Grand Africa Initiative (GAIN), a non-governmental pan-African organization, in partnership with Africa Export-Import (AFREXIM), invites applicants for the GAIN-AFREXIM Masterclass on Entrepreneurship and Intra-African Trade. The masterclass is a program aimed at unlocking the potential of young African entrepreneurs to benefit from the opportunities in the Africa Continental Free Trade Area (AFCFTA) comprising more than 1.2 billion people and to promote intra-African trade.
The program is designed to equip 200 young entrepreneurs from across Africa with skills to build and scale their businesses across the continent and beyond, leverage partnerships, attract more significant trade volumes/revenues, and explore new opportunities.
Upon successful completion of the program, applicants will be able to:
- Grow and position their business favourably in the global market
- Identify new and exciting business opportunities
- Build partnerships in Africa and beyond
- Expand business and revenues
- Take payments and manage trade finance
Interested applicants should fulfill the following to qualify for the program:
- Be an African business owner under 40 years of age
- Have a registered business
- Be at a stage where the business is already generating revenue
- Demonstrate interest in scaling their business
To apply for the program, visit: GAIN AFREXIM Applications
Are you interested in onboarding your business onto an e-commerce platform? Apply for the E-Commerce Boosting Program before 31 July 2022
Are you interested in onboarding your business onto an e-commerce platform? Apply for the E-Commerce Boosting Program before 31 July 2022
The E-Commerce Center (ECC), a Public Private Partnership infrastructure set up to enable the e-commerce ecosystem, invites applicants for the E-Commerce Boosting Program. The program is a series of practical and technical trainings meant to prepare Rwandan small- and medium-sized enterprises (SMEs) to list their products and services on RwandaMart, Rwanda’s leading e-commerce platform. The program is supported by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and the Government of Rwanda as part of the initiative “Rwanda: Enabling the Future of E-Commerce”. The initiative aims to set up infrastructure and support mechanisms for Rwandan SMEs to sell goods via an online business-to-consumer e-commerce marketplace for trading products and services both domestically and cross-border.
Successful applicants will receive training in the following:
- Introduction to e-commerce
- Inventory management
- Engineering
- Marketplace store setup and configuration
- Business compliance
- Online marketing
Additionally, successful applicants will be offered an opportunity to be listed on RwandaMart, access to local and international sales events, a seller certification from RwandaMart, and a chance to apply for a low-interest loan offered by Inkomoko Entrepreneur Development.
Interested applicants must fulfill the following criteria to apply:
- Be registered with RDB
- Use Electronic Billing Machines for receipts
- Be an actively running business, with quality products/services already available on the market
To apply for this program, visit: Applications
For any inquiries about the program, reach out to contact: 0791345390 or send an email to info@ecc.com.
Are you an early stage or growth stage e-health company interested in funding? Apply for the Investing in Innovation (i3) program before 5 September!
Are you an early stage or growth stage e-health company interested in funding? Apply for the Investing in Innovation (i3) program before 5 September!
With support from the Gates Foundation, the Investing in Innovation (i3) program, a pan-African initiative, invites applicants to register for the 2022 cohort. The program seeks to support 30 e-health companies in Africa solving supply chain challenges with data-driven solutions with funding. Companies should be in the early or growth stages and address challenges such as:
- Health product availability
- Accessibility to health products
- Health product quality
- Health product affordability
- Visibility of health product movement
Through the program, successful applicants will gain access to a grant of USD 50,000, regional events providing market access, and networking connections to stakeholders in the e-health ecosystem.
Interested applicants must fulfill all the following eligibility criteria to apply:
- Serve Africans
- Be owned, led and, operated by Africans
- In the early or growth stage
- Offer services in health product distribution or plans to provide services in the short term (2-3 months)
- Business model demonstrates improvements in one or more of the following public health impacts:
- Quality
- Availability
- Affordability
- Accessibility
- Visibility of key health products in Africa
To apply for this program, visit: i3 Application
Launching a Business? Choose the Right Legal Structure
Launching a Business? Choose the Right Legal Structure
A major factor to consider when starting a business is the legal structure. In Rwanda, your business can be a sole proprietorship, a partnership, or a corporation. The structure you select will impact the kind and number of shareholders (co-owners of the firm) you can have, your personal accountability for business debts, and the costs of beginning and maintaining your business.
Learn more about these structures and their advantages and disadvantages.
- Sole proprietorship:
This structure is usually best when a single entrepreneur launches a business. On the plus side, it is easier to set up and register a sole proprietorship, and as the sole proprietor, you retain complete control over the business’s operations. A major plus is that ongoing compliance responsibilities are limited since you are not required to have general meetings, submit yearly reports, or file annual returns.
The primary drawback of being a sole proprietor is that you are personally accountable for all business obligations, including debts, which can put your personal assets at risk should you find your business in financial trouble.
- Partnerships:
This form of legal structure has only been allowed in Rwanda since early 2021. It is an alliance of 2 or more people who agree to conduct a business together. Each individual invests money, property, effort, and expertise in the firm and anticipates a share of the gains and losses.
Partnerships have low startup costs, are simple to create, and members share the profits. Owners are taxed only on their own personal income. If a partner wants to leave the partnership, they may withdraw from their corporate interests.
On the downside, personal liability may still be an issue. Raising more funds and finding acceptable partners are also sometimes challenging.
- Corporation
A corporation is a legally recognized entity that enables the entrepreneur to separate personal assets from your business. This means that people who invest in the firm (shareholders) are only liable for the business’s debts up to the value of their investment. As a result, it is a highly effective method of attracting investment without risking your personal wealth. However, it is the most expensive legal business structure to form, is highly regulated, and requires considerable record keeping. Finally, there is double taxation, first on company profits and then on your personal earnings.
This is a quick review of the legal structures available to you when starting a business. For more advice, seek a legal or tax specialist if you have any specific concerns.
Are you a startup operating in the Commonwealth member state? Apply for the Kigali Startup Festival before 6 June 2022
Are you a startup operating in the Commonwealth member state? Apply for the Kigali Startup Festival before 6 June 2022
The Commonwealth Youth Forum invites applicants to the Kigali Startup Festival. The festival celebrates the innovation, entrepreneurship, drive, and contributions of Commonwealth youth to addressing some of the world’s most pressing challenges. Selected participants will be sponsored to pitch their innovations for cash prizes at the upcoming Commonwealth Youth Forum, taking place from June 19 – 21, 2022, in Kigali, Rwanda.
Participants will have the opportunity to compete for the following awards:
- Champions of Inter-Trade – Export promotion
- Pioneers of Agricultural Innovation – Agricultural productivity
- Green Innovation Guru – Addressing circular and climate change issues
- Digital Geeks – Leveraging digital technologies to address daily-life challenges
Interested applicants must fulfill the following criteria to apply:
- Be aged 18 to 29 years
- Be a citizen of the Commonwealth member state
- Have a valid legal proof of business or project ownership
To participate in the festival, visit Applications
Are you an innovative women agripreneur? Apply for the AGRA VALUE4HER Women Agripreneur of the Year Awards before 31 May 2022
Are you an innovative women agripreneur? Apply for the AGRA VALUE4HER Women Agripreneur of the Year Awards before 31 May 2022
AGRA, a farmer-centered, African-led, and partnerships-driven institution that catalyzes inclusive agricultural transformation in Africa, invites applicants for the VALUE4HER Women Agripreneur of the Year Awards (WAYA 2022). The award recognizes African women agripreneurs who have excelled in the agricultural value chain and have demonstrated exceptional innovation that addresses food security, climate resilience, and women and youth empowerment.
The WAYA awards recognize established and emerging women agripreneurs in three categories: young female entrepreneur (rising star), outstanding value-adding enterprise, and female agriculture technology innovator. Winners of each category will receive a cash prize of USD 20,000.
Women agripreneurs interested in participating must fulfill the following criteria to apply:
- Be operating in agriculture/agribusiness value chains
- Have an innovative product/service
- Be a national from one of the 54 African countries
- Have a solid digital footprint and be a VALUE4HER member
- Be a remarkable community leader actively amplifying the voice of women.
To apply for the WAYA awards, visit: WAYA Application
Are you an African female entrepreneur interested in preparing your business for investment? Apply for the ShEquity Business Accelerator program by 6 May 2022
Are you an African female entrepreneur interested in preparing your business for investment? Apply for the ShEquity Business Accelerator program by 6 May 2022
ShEquity, an investment catalyst for African female entrepreneurs, invites applicants for ShEquity Business Accelerator program (SHEBA). The 16-week program focuses on preparing female-led and -owned businesses for investment with the goal of increasing their chances of accessing seed funding. The program is also designed to enhance leadership and soft skills needed to engage with key partners/customers and to inspire women entrepreneurs to revamp and test their marketing strategies.
Through the program, participants will be equipped with the skillset to develop new business models and mindsets for innovation while leveraging existing tools that will help them maintain a competitive edge. The program supports African female entrepreneurs in agribusiness (agritech, production, processing wholesale & retailing, any other agribusiness value chain aspects), healthcare, tech-enabled solutions (fintech, clean tech, etc.), renewable energies, mobility and fast-moving consumer goods (FMCGs).
To apply for this program, visit: SHEBA Application