10 Organizations Funding Start-Up Businesses In Africa
Are you an investor or entrepreneur looking to invest or start a business in any of the African countries? We all know that it is not an easy thing to do. The most difficult aspect of it is the capital, more specially when you want to do a big venture. But do not despair, where there is a will there is a way. The list of following organization will help fund any startup in Africa.
1. Acumen Fund.
Acumen is a charity organization incorporated in 2001 with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and three individual philanthropists. Acumen is always looking for entrepreneurs who have new and innovative models for tackling poverty. In October 2014, they announced a $1.4 million investment in SolarNow, a company that sells and finances solar home systems in Uganda.
2. African Development Foundation.
The African Development Foundation (ADF) is an independent Federal agency of the United States government that was established to support African-led development that grows community enterprises by providing seed capital and technical support. USADF connects community enterprises with capital and technical support. It helps organizations and businesses in Africa to create and sustain jobs.
3. Africa Media Ventures Fund.
AMVF mobilizes capital and experience in the Netherlands to invest in entrepreneurs in the media sector and small and medium-sized African media companies. It offers a combination of venture capital and business development support, involving knowledge, experience, access to proven business concepts and network.
4. African Women’s Development Fund (AWDF).
The AWDF is the first pan-African women’s grant maker in Africa. Since the start of its operations in 2001, AWDF has provided US$17 million in grants to 800 women’s organizations in 42 African countries. In addition to raising money and awarding grants, the AWDF will attempt to strengthen the organisational capacities of its grantees.
5. Bamboo Finance.
Bamboo Finance is a commercial private equity firm specializing in investing in business models that benefit low-income communities in emerging markets. It has offices in Luxembourg, Geneva, Bogota, Nairobi and Singapore. Launched in 2007, the firm seeks to demonstrate that private capital can be profitably deployed as a tool for effective change around the world.
6. CAF.
Founded in 1924, the Charities Aid Foundation (CAF) is a charity organisation based in the United Kingdom and manages over £3 billion on behalf of charities worldwide. Through CAF Venturesome, the social investment arm of the organization, it provides affordable financial support to charities, social enterprises and community groups when grants may not be available and access to traditional
financial institutions is difficult.
7. Echoing Green.
Since its founding in 1987 by the leadership and investment of the leading global growth equity firm, General Atlantic, Echoing Green has provided more than 600 social entrepreneurs working in sixty countries with $36 million in start-up funding, customized support services, and access to a global network.
8. eVA Fund.
The eVentures Africa Fund (eVA Fund) was launched in January 2010 and is dedicated to mobilizing capital and experience in the Netherlands/Europe to invest in small and medium-sized African internet related companies. eVA Fund exclusively provides funding to startups in sub-Saharan Africa. Some of its investments include: Nomanini, Verviant, Umuntu Media, and MoboFree.
9. Ford Foundation.
Established in 1936, The Ford Foundation provides grants to organizations in the United States, Latin America, Africa, the Middle East and Asia. Since its founding, the Ford Foundation has distributed more than $16.3 billion in grants worldwide.
10. Fanisi Venture Capital Fund.
Fanisi Venture Capital Fund is a $50M fund which makes direct investment (private equity and venture capital) in businesses with potential for substantial growth. Fanisi Capital was founded in 2009 by the Norwegian Investment Fund for Developing Countries (Norfund) and Amani Capital Limited. Some of its investments in Africa include: Hillcrest International Schools (Kenya), Sophar Pharmaceuticals (Rwanda), Ngare Narok Meat Industries (Kenya) and Haltons Pharmacy (Kenya) among others.
