Funding Opportunity for African Businesses

This article is replete with funding opportunities for African business from Gender-responsive climate finance window, Amber grants for women and Lagos State Employment Trust Fund amongst others.

1. Gender-Responsive Climate Finance Window

Deadline: August 30, 2024

The Gender-Responsive Climate Finance Window is now accepting Concept Notes for its Fall Round (Cycle 5) until August 30, 2024. Interested applicants can apply here. The Gender-Responsive Climate Finance Window, made possible with support from the Government of Canada, will award early-stage grant funding for the design and launch of innovative blended finance vehicles focused on the intersection of climate change and gender equality in emerging markets globally.

There has been a growing awareness of the climate-gender nexus over the past decade, but the field remains nascent. This Window aims to build the field by supporting a pipeline of climate-gender blended finance vehicles to reach bankability.

Types of Funding Available

Applicants can apply for feasibility study or proof-of-concept funding.

Feasibility study

• Grants range between USD 40,000 to USD 190,000.
• Funding to explore the feasibility of the vehicle. For example, a combination of the following activities would be eligible:
  • Assessing the investability/bankability of the transaction
  • Conducting market scoping
  • Conducting a gender analysis and stakeholder consultations
  • Designing the vehicle structure
• Promising feasibility studies funded through this window may be considered for follow-on proof-of-concept funding.

Feasibility study applications must be able to 1) present an initial vehicle structure and investment thesis, and 2) demonstrate early engagement with potential investors and relevant stakeholders.

Proof-of-concept

• Grants range between USD 190,000 to USD 500,000.
• If a feasibility study (or equivalent) has been completed, then funding would be provided to complete all design and structuring activities to launch the vehicle. For example, a combination of the following activities would be eligible:
  • Finalizing the capital structure and financial model
  • Fundraising and marketing activities with prospective investors
  • Final selection of implementing partners
  • Finalizing the legal structure and producing key documents needed to launch the vehicle
  • Development of a gender action plan (or equivalent) based on the gender analysis from prior feasibility work
• Proof-of-concept applications will be expected to present 1) interest and ideally commitment from investors and relevant stakeholders to participate in the vehicle, and 2) a financial model.

Eligibility Criteria

To be eligible for consideration, proposals must meet the following criteria:

Theme

• The proposal must be for the design and launch of a blended finance vehicle.
• See our grant portfolio for examples of vehicles supported by Convergence under past Design Funding windows.
• Vehicles MUST target either climate change mitigation and/or adaptation, AND integrate a strong gender equality focus.

Geography Any emerging market(s), eligible to receive official development assistance (ODA) according to the OECD-DAC List of ODA Recipients.

Sector Any sector(s) and sub-sector(s) aligned with climate change mitigation, adaptation and gender equality. For example, potential sectors and sub-sectors could include the following:

• Climate Change Mitigation:
  • Low-carbon transportation
  • Renewable energy generation (on-grid and off-grid)
  • Energy efficiency
  • Agriculture, forestry and land use
  • Natural resource management
  • Energy transmission, storage, and distribution
• Climate Change Adaptation:
  • Sustainable/climate smart agriculture or aquaculture
  • Climate-related insurance and disaster resilience
  • Nature-based infrastructure
  • Ecosystem-based adaptation
  • Waste and wastewater management

Proposals are only accepted from organizations or consortiums of organizations.

• For example, eligible organizations could include asset owners, asset managers, advisory firms, foundations, not-for-profit organizations, and corporations.
• The lead organization must be able to provide 1) proof of incorporation, and 2) financial statements for the previous fiscal year.

Applicants are awarded funding in disbursements based on milestones, and are expected to meet reporting requirements, such as reporting on key challenges, learnings, and results on a regular basis. Learnings from the design stage will be synthesized into a public case study or learning brief and published to support market-wide learning.

For more information, visit Gender-Responsive Climate Finance Window

2. FedEx^® Small Business Grants Program 2024

Deadline: April 1, 2024

The FedEx Small Business Grants Program started in 2012 (formerly, the FedEx Small Business Grant Contest) to award U.S.-based small businesses with grants and prizes to enhance their businesses.