ImpactHer offers training to African women entrepreneurs to grow and scale their business. ImpactHER is an impact driven nonprofit organization that seeks to empower African female entrepreneurs by bridging the gender business financing gap so as to help African female entrepreneurs realize their full economic potential.
What makes your organization different from other entrepreneur focused organizations?
There are numerous entrepreneur-focused organizations all doing amazing things and tackling problems that they have observed in the entrepreneurship space.
ImpactHER focuses specifically on helping African female entrepreneurs solve operation issues for their business and get funding for scaling. Our entrepreneurs represent 27 African countries as well as African women running businesses in the UK, Dubia, and the United States. Our trainees come from countries like Ghana, Nigeria, Malawi, Kenya, Cameroon, Gambia, etc., and have also helped our trainees get capital needed to grow their business.
What inspired you to create ImpactHER?
As an investment lawyer with deep experience advising U.S. investors on transactions in African countries such as Zimbabwe, Ethiopia, Kenya, Nigeria (just to name a few), I observed that female-led African SMEs lagged behind in getting access to finance to build their businesses. This problem was also well documented by studies from the African Development Bank. The African Development Bank found that there is a $42 billion funding gap for African female-owned companies. Similarly, the International Finance Corporation (IFC) recently observed that female co-founders in Africa received only about 5.3% of the venture capital funding in Africa whereas their male counterparts received 94.7%. Having a first-hand observation of the problem, which was also backed by data, I decided to help create a solution for African female business owners.
What are the qualifications for entrepreneurs to participate in your program?
It’s relatively easy to participate in the program. The female entrepreneur obviously needs to have an operating business as well as the willingness and motivation to want to turn her business around. There are no educational requirements needed.
What does ImpactHER have planned for 2019?
The plan is to continue to provide training to the female entrepreneurs throughout Africa as well as guide them through their entrepreneurship journey.
How can other organizations partner with ImpactHER?
Our services and training are provided for free to the female entrepreneurs. As such, we welcome the opportunity to partner with other organizations that are interested in helping create a positive impact in the female entrepreneurship space. Interested partners can reach ImpactHER at email@example.com.
Photo Credit: Impacther