“Money is the problem, money is the solution”, a wise man once said. According to Forbes Statista, the second cogent reason startups fail globally is lack of funding, with lack of market need being the foremost.
Narrowing down to Nigerian Startups and Small Businesses (SMEs), is even harder, considering the ripple effects of the COVID-19 pandemic which has sent several businesses either packing or pandering for funds amongst other national challenges.
However, Nigeria and Nigerians are known to be some of the most resilient people when it comes to enduring challenging situations and that includes Nigerian entrepreneurs.
This listicle presents a reliable list of the top five ongoing funding opportunities for Nigerian Startups and also, Female Entrepreneurs looking for funding opportunities in Nigeria in 2024.
Top 5 Funding Opportunities available for Female Entrepreneurs and Startups in Nigeria today
- Flourish Africa N1 Billion Grant for Female Entrepreneurs
Topping the list of the HOTTEST funding opportunities for female entrepreneurs in Nigeria today is none other but the whopping N1 BILLION grant for female entrepreneurs, proudly sponsored by Flourish Africa. With this package, successful applicants can get between N3.7m funding up to N11.2 million to boost their businesses. Women-led Associations can also receive as much as N37.5m in funding. The only downside to this special offer is its exclusiveness to women-led businesses located in Abuja, Lagos, or Port Harcourt. But hey, if your business isn’t in any of the three locations, there are still funding opportunities for your business below.
Application Deadline: January 29, 2023
Benefit: N11.2 million grant
- Tony Elumelu Foundation Entrepreneurship Programme 2023
Perhaps you want to be cool like Tony, yeah? Just so you know, the Tony Elumelu Foundation (TEF) is the leading and largest enabler of entrepreneurs in Africa. Its objective is to empower women and men across our continent, catalysing economic growth, driving poverty eradication and ensuring job creation. With its launch of the TEF Entrepreneurship Programme 2023 on the 1st of January, you have an opportunity to benefit from its $5,000 (N3.7m) non-refundable seed funding.
This opportunity is easily accessible to startup owners and budding entrepreneurs. Go for it because there’s absolutely nothing stopping you.
Application Deadline: Unspecified
Benefit: N3.7 million grant
3. BRAVE Women Nigeria
Imagine the benefits N11.2m would add to your business. Just imagine. The good news here is, it’s not just a mere imagination, this is one real and ready funding opportunity. You could turn your imagination into reality because Brave Women Nigeria has decided to splash N11.2m on Female Entrepreneurs in Nigeria. You can also smash that business goal by applying for this loan opportunity for female entrepreneurs today.
Application Deadline: Unspecified
Benefit: N11.2 million
- Orange Corners Nigeria Incubation Programme
The 8th cohort of the Orange Corners Nigeria Incubation Programme is now and it seeks to support budding entrepreneurs. It is a 6-month incubation program however but successful participants will receive funding of up to 40,000 Euros (N34m naira equivalent) after the programme.
Benefits: N34 million grant
- FATE Foundation Business Resilience Programme for African Women Entrepreneurs
FATE Foundation in partnership with Google.org on the 19th of January launched its $1 million funded Business Resilience Programme (BRP) for female entrepreneurs in Nigeria, Kenya and South Africa.
The perk of this programme is that 200 female entrepreneurs will be supported with grants upon successful participation. Other benefits also include free business registrations, free access to the FATE business plan developer tool and a certificate of completion.
Female Entrepreneurs nationwide can access this opportunity as it will be executed both virtually and in four different states (Ogun, Edo, Kwara, Abia, and Lagos).
This is one funding opportunity that shouldn’t be missed.
Benefit: Cash Grants
In conclusion, it is not enough to read about funding opportunities, you also need to know how to submit irrefutable business proposals to win business grants. Connect with a member of the MSME Africa team to do this and learn which grant could be the best fit for your business. Moreso, be the first to receive funding opportunities and other updates such as these by subscribing to our Weekly Newsletters. We will not spam you.
