We’ve been thinking; what’s the best way we can #ChooseToChallenge? What’s the best way to raise our hands up high and call out inequality? We came to the understanding that the single most important factor for fostering equality in the business world is funding. In celebration of International Women’s Day, Flutterwave is giving $2500 grant each, to winning women-led businesses across Africa.
The 2021 International Women’s Day theme asked that we all #ChooseToChallenge. To challenge inequality, to celebrate women’s achievements and to raise awareness on bias against women.
At Flutterwave, realizing the challenges women face as they carry out their businesses, we have launched an annual grant to provide women with the much-needed capital for them to expand their businesses.
The annual Flutterwave International Women’s Day grant will be open during International Women’s Day and will award 7 women-led businesses with US$2500 each in addition to providing training and mentorship programmes.
Why this grant?
Women’s access to financial services worldwide is exceptionally low. In Africa, according to the Africa Development Bank (AfDB), women face a $42 billion financing gap. To ensure that women are continually supported to grow their businesses, Flutterwave will be awarding women-led businesses to scale their operations and provide training and mentorship for them to better manage the business.
Training targeted at women entrepreneurs has been known to increase yields and long term benefits. In Togo for instance, training for small business owners yielded a 40% average increase in profits for women who participated. It becomes clear that supporting women in business equates to supporting thousands of their immediate households, communities and of course economies.
Here are some benefits of the Flutterwave International Women’s Day Grant:
Each winning business will be awarded US$2500. Winning businesses will also be supported with free video content creation and online visibility, through paid and organic channels.
Winners will get access to an exclusive group where they will be trained and mentored through office hours by the best entrepreneurs in their fields. Mentors will be selected from 7 countries, covering Technology, Marketing, Finance, Sales, Operations, Investment, etc.
The award will target businesses in the following countries:
- South Africa
Other Selection Criteria
- Women-led business: Women who own small businesses are 43% more likely than men to be concerned about limited access to money affecting their companies.
- Viable and sustainable business: We aim to support businesses that have been in operation for less than 3 years, with a strategy for sustainability and have a minimum of 3 and a maximum of 10 employees to qualify.
- New & Already existing Flutterwave Merchants: The prize money will be paid into the winner’s Flutterwave Account. This means that every participant should own a Flutterwave account. It’s never too late. Sign up here.
- Must be legally and locally registered with relevant authorities: Your business must comply with all local laws and regulations for it to participate in this grant.
Read extra terms and conditions, here.
Application ends April 9th, 2021.
Winners will get a notification within 2 weeks of the application’s closing date.