An eco-friendly firm, Paperbags by Ebees has received financial assistance to boost sustainable packaging solutions through a recycling model.
According to the Co-founder, Ms. Chidiebere Nnorom, Paperbags by Ebees: “We are currently fundraising to scale our operations across West Africa and looking at instruments such as debt financing with interest rates lower than 10 percent, equity and grant funding to upgrade our current capacity. We are hopeful that pitching at the TEI IYBA (Team Europe Initiative-Investing in young Businesses in Africa) event at the Marriott in Lagos will take us a step closer to the funds we need. We have also received funding from Orange Corners, Nigeria (OCIF), Nigerian Export Promotion Council and Tony Elumelu Foundation.”
Selected as one of the top 30 female-led businesses across Africa by Women Entrepreneurship for Africa, the firm is also expanding its business operations across West Africa and reaching more businesses through its expansion plans for 2023.
The “Women Entrepreneurship for Africa” (WE4A) program is one jointly supported by the European Union (EU), the Organization of African, Caribbean and Pacific States (OACPS) and the German Federal Ministry for Economic Cooperation and Development (BMZ), implemented by the Tony Elumelu Foundation (TEF), and the German Development agency GIZ (E4D program). The Acceleration/Growth Programme is implemented with support of SAFEEM (Swiss Association for Entrepreneurship in Emerging Markets), a Seedstars Program.
