What does it mean to break the bias? According to IFC, there’s a $42bn financing gap for women in business across Africa. Women in Africa make up 25% of business owners in the continent; one of the highest rates across the world. Breaking the bias starts from financing more women in business, granting them soft loans and unblocking access to financing for women across Africa.
Breaking the Bias the Flutterwave Way
We’re committing $50,000 to women-owned businesses across Africa. We believe this would help the beneficiaries grow their businesses and expand to become global businesses.
Our Chief Operating Officer, Bode Abifarin puts it clearly, “A way to support women-led small businesses is to provide them with much needed funding to get in front of their chosen audience quickly. This way, they can break the business bias and get ahead in their various industries. We need more women business leaders.
At Flutterwave, we are being more intentional with highlighting the biases women-led businesses are facing and trying our best to fill that gap. We’re excited to extend $50,000 in grants to these women and we hope this will have a very positive effect on their business and growth.”
Becoming a Beneficiary of the Flutterwave $50,000 IWD Grant
Here are some conditions that qualify a business to be a beneficiary of the Flutterwave IWD grant:
- The business should have an active and functional Flutterwave Store
- The business should be owned and led by a woman.
- The business should be registered in the country where it operates
- People should recommend the business to Flutterwave
What Does a Beneficiary Get?
Each winning business will be awarded US$5000 in Ad Spend, a video and a product shoot alongside other marketing benefits from Flutterwave.
APPLICATION DEADLINE
Application ends May 27th, 2022.
Prize Announcement
Winners will get a notification within 2 weeks of the application’s closing date.
Registration
Support Women in Business
We will continue to support women in business across the continent with technology and financial resources as they continue to grow their businesses and expand to other countries. We understand that women play a crucial role in society. According to IFC, the Female small business owners in the informal sector are also said to typically reinvest up to 90% of their income in the education, health and nutrition of their families and communities. When you support women in business, you also support education.