Funding OpportunitiesPeople & Money

Funding for Businesses in Africa – August 24

  1. Call for application to Intelak Accelerator

All aviation, travel and tourism start-ups looking for growth and scaling opportunities, along with intimate access to principal partner mentoring, investors, and an alumni networking platform can apply to Intelak Accerator. The programme which will last for eight weeks seeks to solve a myriad of new challenges that COVID-19 has created in the aviation, travel and tourism industries. Under this theme, start-up solutions will tackle innovative new approaches to enhance the health, safety, convenience and well-being of travelers and make visitors to Dubai feel more inspired, safe and supported. To apply click here.

  1. Call for application: Global start-up ecosystem (GSE) 5th Annual Digital Career Accelerator

Global Startup Ecosystem (GSE) returns with the 5th Annual Digital  Accelerator programme with a focus on career development, personal development, and business development tracks to prepare participants for a digital future.  The 4-week intensive program will feature speakers from around the world who will train on strategy that prepares both entrepreneurs and career professionals for a digital remote world. Accepted participants will receive $250k in free perks and prizes from Google Cloud, AWS, IBM Cloud, DigitalOcean, Sendgrid and Zendesk. Application closes by 28th of August. To apply, click here.

  1. FITC Youth Essay Challenge 2020 Now Open

Undergraduates are called to apply for the youth essay challenge organized to utilize the creative and innovative psyche of African Youths to promote growth and development in Africa. The competition focuses on inculcating in students the habit of making contributions national and global issues, as well as providing policymakers with an accessible perspective.  The essay is open to all undergraduates across Africa. The essay should not contain more than a thousand words and can be written in English or French. Originality must reflect and the essay must be an unpublished one. Only one entry is allowed per person


  • Winner – $1,000 + Laptop + Leadership Certification
  • Programme + 1-year Mentorship Programme
  • 1st runner up – $500 + Laptop + 1-year Mentorship Programme
  • 2nd runner up – Laptop + 1-year Mentorship Programme

Application ends on the 31st of August. For application, click here.

  1. Visa E-commerce Starter Package

SMEs are called to register for the E-commerce starter package. The first 100 SMEs to register will have the opportunity to create their own online store in order to  start accepting online payments. They will given  $200 worth of online advertising. For more information, click here.

  1. Funding opportunities for tech start-ups in Middle East and North Africa

Flat6labs, a MENA start-up accelerator programME and seed investment company has created funding opportunities tech start-ups in its region of operation by partnering with Saudi Arabian angel investor OQAL.  Flat6labs portfolio companies will be accessed by OQAL. These start-ups can scale with the funding provided to them. To apply, click here.

  1. CIRCLE emerges ‘best of ecosystem’ winner in Egypt at the AfricArena Virtual Startup Pitch Series 2020

Circle has emerged the ‘Best of Ecosystem’ winner at the AfricArena Virtual Startup Pitch Series held in Cairo, recently. The property management app will be the representative of  Egypt at the Grand Stage at the 4th Annual AfricArena Summit to be held in Cape Town, South Africa in March 2021. Circle is an application that enables property managers helps property businesses be efficient in handling their customers’ demands at reduced operational costs. For more information, please click here.

Read More: Funding for Businesses In Africa

  1. Energy+ raises $1m investment

Malian off-grid solar company, Energy + has received $1m funding from international partners to bridge the electricity gap in Mali. One of the partners, VentureBuilder, will be providing fully funded enterprise development services (EDS). Cordaid Investment Management will   be providing debt funding while United States African Development Foundation (USADF) providing grant financing. For more information, please click here.


  1. Japaul switches to mining

Japaul is exiting the oil industry after a protracted downturn experienced by operators in the sector.

Indigenous oil Services company, Japaul Oil&Maritime Services Plc, has concluded plans to raise N27 billion ($70 million) in a share offer come November 2020.

Money raised will be used to finance its switch to mining, as crude oil exploration and production operations wane due to the devastating impact of the coronavirus pandemic. For more information, please click here.

  1. ThankUcash secures funding from 500 startups mentor

A rewards and loyalty infrastructure for banks and businesses in Africa, ThankUcash has secured funding from 500 startups mentor, Brandon Drew.  The mentor has also been given an advisor role in the multi-merchant rewards company. Drew is the co-founder and general partner at Saas Growth Ventures, a San Francisco-based venture fund. He has over 20 years of experience in the SaaS B2B space and has been involved in three exits

10. Facebook’s Global Grant Programme

In order to help businesses recover and sustain operations during this pandemic, social media giant, Facebook has come up with an inititaive called $100m Global Grant. It aims to support 30,000 small and medium scale businesses. Administration of the programme will be done by Deloitte in association with FATE Foundation and Afrigrant. SMEs in Nigeria are eligible to apply as 781 of them will be selected eventually. Applications will be open from Monday 24th of August 2020 for the North East, North West and South East regions and 28th August 2020 for the South West, South South and North Central regions. For more information, please click here.



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