German non-profit Impacc gGmbH, which supports local, green companies in Africa, has announced a call for application for its third venture cohort of investment in innovative entrepreneurs in Rwanda, Uganda, and Tanzania, which will get a smart equity investment to scale their businesses.
Impacc is an international non-profit company registered in Germany that sees itself as providing more sustainable development aid, using donations and support as investments in social enterprises that generate returns, keeping the development engine running and self-sustaining in the long run.
The investment will be between US$30,000 and US$150,000, targeting six innovative social businesses that will undergo rigorous due diligence for 6-12 months. The Impacc programme supports growth stage, innovative social ventures, focused on women’s inclusion and improving the lives of people living in rural areas and with a high impact solving challenges communities at the base of the pyramid.
“Africa needs to create 25 million jobs per year to keep up with the growing population, and it’s the continent’s great entrepreneurs and startup founders who can achieve that. They have what it takes – ideas, courage, energy, and optimism. What they don’t have is access to patient capital and support to help them make their ideas big. That’s where Impacc comes in – we invest early in order to empower the next generation of stellar African entrepreneurs”, said Impacc CEO Till Wahnbaeck.
Applications are open here until March 31.