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Funding opportunities for young entrepreneurs in Africa
Africa has had its share of unsettling times. This causes great discouragement for youths on the continent as they struggle to come to terms with situations.
The continent is also the one with the highest number of youths and this adds up to having great power. Some years ago, Africa seemed not to know what to do with young people, but today they have numerous ways to harness and empower them like in funding entrepreneurs.
Amidst all kinds of crises, there are people carving a path to uphold the continent in the near future. Among them are Tony Elumelu Foundation (TEF), Anzisha Prize, The Agribusiness Africa Window and Innovation Prize for Africa, just to name a few.
To revalidate 2020 TEF application, follow the link: https://www.tonyelumelufoundation.org/wp-content/uploads/2020/06/USER-GUIDE-ON-HOW-TO-REVALIDATE-YOUR-TEF-APPLCIATION.pdf
There can be some confusions when people wnt to apply for funding for their enterprises, they don’t know which one will be more favourable. So we have made this article to help with the chaos as we expect Africa to get a facelift in the near future from young entrepreneurs.
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- TEF Alumni, Nabuuma Shamim Kaliisa on Forbes Africa Under 30, 2020
Model Entrepreneurs in Africa
Not long ago, Africa was home to undiscovered SMEs and start-ups with little or no support from the government.
From Dangote to Femi Otedelo and Folorunsho Alakija whom younger entrepreneurs look up to, entrepreneurship is the new dynamo for success in Africa today.
Here are some of the model entrepreneurs in Africa that received funding only a few years back.
In Tech
- iMed Tech, South Africa (TEF) – Produces breast prosthetics for cancer survivors
- Alternative Waste Technology, Kenya (TEF) – company makes fuel briquette from waste
- BeBlocky, Ethiopia (TEF) – Programming and gaming company
- PowerStove, Nigeria (TEF) – Company manufactures ECO-friendly stove
- CURE, Tunisia (TEF) – Bionic company for amputees
In Farming
- Canaan Farm, Sierra Leone (Anzisha Prize) – Agribusiness and distribution company
- AquagriTech, Congo (Anzisha Prize) – Improves urban bio-waste for the production of natural plant food from fish droppings.
Business and Social Enterprises
- 2doon, Somalia (ANZIHSA Prize) – Creates a connect link between unemployed youths and companies.
- Yonima Errands Runner, Gambia (ANZIHSA Prize) – Business errand service.
Most of these foundations open at the beginning of the year and we will share that information as often as we can.
The Tony Elumelu Foundation (TEF) is currently open for applications and will close on March 1. Before you apply, think about how to distinguish between all the different foundations to know which one’s most favourable.
TEF seem to work out more techniques and energy-related applications than any other foundations. If you have a tech enterprise, then you know you have a higher chance with TEF. If your field is farming or others, then you know how to proceed. Either way, business platforms are saturated and you need to think outside the box and find out the things that Africa need the most.
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