The FRAGG Impact Growth Accelerator Programme is an initiative structured, in partnership with the African Guarantee Fund, to close the funding gap for SMEs in West Africa, by providing support to companies and projects in the impact and climate sectors that are at expansion stage, in order to prepare them for the financing needed to scale. FRAGG Growth Accelerator is a business development programme designed to provide support to participants with business strategies, growth and scalability tools required to become investment-ready. The programme serves to facilitate enhanced access to finance needed to scale-up. The programme will culminate in a networking event with investors, business leaders, and corporate decision-makers in order to foster interaction with prospective investors.
What to Expect:
- An accelerated proposal assessment programme to help determine the suitability of your business for financing
- Mentorship and capacity building for participants, particularly in the areas of Strategic Business Planning/Financial Management, Product Development/Market Expansion, Risk Management/Internal Audit & Control/, and ESG Evaluation, Monitoring & Reporting
- Access to a pool of potential financiers and investors, and
- An opening for provision of African Guarantee Fund (AGF) guarantee, and access to funding from the FRAGG Impact Fund.
20 ambitious, innovative, and growth-stage impact businesses who are committed to combining financial returns with discernible social and/or environmental impact. Businesses must:
- Be for-profit, post-revenue business seeking a minimum of 250,000 USD as growth funding
- Have at least 75% of its activities in West Africa (applications from Nigeria, Benin, and Togo will be prioritised)
- Have existed for at least three years
- Have a full-time dedicated, diverse and inclusive management/staff with a reasonable ratio of women and youth
- Have a scalable and innovative social impact business
- Have a turnover of at least 1 million USD
- Be open to raising external investment
Target Impact Sectors
- Inclusive Finance & related FinTech Services: Including Microfinance/SMEs Banks, Finance Houses, OFIs, Commercial Banks, and Financial Technology Solutions.
- Agriculture: Agribusinesses covering the entire agriculture value chain, including but not limited to food production especially small-holder farming, food processing and storage, packaging, distribution (transportation and haulage), and wholesale/retail market (export or domestic).
- Healthcare & related services: From diagnosis to treatment and core areas of health management and prevention, including but not limited to general and specialised hospitals, primary health care centres, pharmaceuticals, HMOs, and health technology.
- Affordable Housing: Housing projects that increase access to practical and viable housing especially for earners on the lower end of the spectrum. Sustainable and energy-efficient housing projects are of particular interest.
- Education: Inclusive education models with projects covering low-fee private education in preparatory, primary, secondary, tertiary, and vocational institutions, education technology (EdTech), educational infrastructure and related services.
- Climate Finance: Projects covering climate Mitigation, Adaptation and REDD+ (reducing emissions from deforestation and forest degradation). Projects including but not limited to Renewable Energy, Lower Carbon & Efficient Energy Generation, Waste Management & Recycling, Non-Energy GHG Reductions, Sustainable Transportation, Water & Waste Water Systems, and Coastal & Riverine Infrastructure.
Application deadline: 31 August 2020
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