The U.S. International Development Finance Corporation (DFC) and U.S. African Development Foundation (USADF)have launched the African Small Business Catalyst (ASBC) to bolster early growth-stage small and medium enterprises (SMEs) in sub-Saharan Africa.
ASBC is a business accelerator that supports SMEs with loans ranging from USD$100,000 to USD$1 million and offers technical assistance (TA) and grants up to USD$100,000. ASBC targets SMEs in sub-Saharan African countries within the agriculture, food security, healthcare, and education sectors, as well as water, sanitation, and hygiene (WASH) with special consideration to SMEs that tackle the climate crisis and address gender equity considerations through their work.
ASBC assists its partners with capital/grants, mentoring, training, and TA to help them develop their business models, strengthen their management skills, expand their market reach, and deepen their impact.
- ASBC targets SMEs in sub-Saharan African countries within the agriculture & food security, education, healthcare, and water, sanitation, hygiene (WASH) sectors.
- Special consideration will be given to SMEs that address climate and gender.
- Debt investments up to USD$1 million Grant capital up to USD$100,000
- Intensive mentoring and training programs
- Targeted technical assistance (e.g., technology)
- Network of impact investorsImpact first, catalytic partner (no dilution or claims on IP)
- In addition to investment capital, ASBC will provide grants up to USD$100,000 (total per SME).
- Successful applicants will also be paired with one of our mentoring and management training partners for a 6–12-month intensive program.
- A technical assistance (TA) plan will be drawn-up and specific support designed around your needs and arranged with experts/consultants.
More details HERE