This archive report was first published on 7 July 2021.
Published on July 7, 2021, ImpactHER, an impact-driven non-profit organization, has launched an emergency relief grant to support women-led businesses in Africa.
The COVID-19 pandemic has had a devastating impact on businesses globally, with the World Economic Forum noting that it has widened the gender-financing gap. The World Bank estimates that the pandemic has forced many female-led businesses to risk permanent shutdown, pushing an estimated 23 million people into extreme poverty.
ImpactHER conducted a survey in 2020 to understand the impact of the pandemic on women-led businesses. The results revealed that over 1300 women-led businesses in 30 African countries were at risk of permanently shutting down and needed capital.
Responding to this crisis, ImpactHER is providing undisclosed grants to women-led businesses in Anglophone, Francophone, and Lusophone Africa who are struggling to keep their businesses afloat. The Business Emergency Relief Fund Grants will be accompanied by 3-month business growth and strategy sessions to empower the beneficiaries with strategic knowledge and guidance.
Founder of ImpactHER, Efe Ukala, stated, “Covid-19 has had devastating effects on a substantial number of small and medium-sized businesses globally. One of the effects is that it has widened the gender-financing gap. Sadly, some of the stimulus packages that were provided to Covid-19 impacted businesses in Africa did not address inherent gender bias. We wanted to help fill that gap.”
Applications for the Emergency Relief Funds grant opened on June 15, 2021, and will close on July 31, 2021. Women-led businesses in Africa are encouraged to apply and will have an opportunity to win a free website development package.
