According to the World Economic Forum, the COVID-19 pandemic has widened the gender-financing gap.
The World Bank notes that the pandemic has had a devastating impact on businesses globally and has forced many female-led businesses to risk a permanent business shutdown, pushing an estimated 23 million people into extreme poverty.
ImpactHER surveyed in 2020 to understand the impact of Covid-19 on women-led businesses.
The results revealed that over 1300 women-led businesses in 30 African countries were at risk of permanently shutting down their businesses and needed capital.
The non-profit is responding to this crisis by providing an undisclosed number of 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 for the maximization of the funds.
Commenting on what inspired the relief grants, 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 Tuesday, 15th of June 2021, and will close on Saturday, 31st of July 2021.
Women-led businesses in Africa are encouraged to apply. Applicants will have an opportunity to win a free website development package.
To apply, visit http://bit.ly/IHGrant
ImpactHER is an impact-driven non-profit organization that empowers African women entrepreneurs by helping them build scalable businesses, access new markets and bridge the gender business financing gap so as to help African women entrepreneurs realize their full economic potential.
With a community of 45,000+ African female entrepreneurs, ImpactHER has trained and provided direct support to over 21,000 African women entrepreneurs in 52 African countries – www.impacther.org
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