DFC/USADF African Small Business Catalyst (ASBC) Program 2022 (up to $1,000,000)
Deadline: April 15, 2022
Applications are open for the African Small Business Catalyst (ASBC) Program 2022. The U.S. International Development Finance Corporation (DFC) and U.S. African Development Foundation (USADF) have launched the African Small Business Catalyst (ASBC) to bolster early growth-stage small and medium enterprises (SMEs) in sub-Saharan Africa.
ASBC is a business accelerator that supports SMEs with loans ranging from USD$100,000 to USD$1 million and offers technical assistance (TA) and grants up to USD$100,000. ASBC targets SMEs in sub-Saharan African countries within the agriculture, food security, healthcare, and education sectors, as well as water, sanitation, and hygiene (WASH) with special consideration to SMEs that tackle the climate crisis and address gender equity considerations through their work.
ASBC assists its partners with capital/grants, mentoring, training, and technical assistance to help them develop their business models, strengthen their management skills, expand their market reach, and deepen their impact.
- Debt investments up to USD$1 million
- Grant capital up to USD$100,000
- Intensive mentoring and training programs
- Targeted technical assistance (e.g., technology)
- Network of impact investors
- Impact first, catalytic partner (no dilution or claims on IP)
- Open to SMEs in sub-Saharan African countries within the agriculture & food security, education, healthcare, and water, sanitation, hygiene (WASH) sectors. Special consideration will be given to SMEs that address climate and gender.
- Ventures must be for-profit businesses that are registered locally and majority African-owned.
- Ambitious, full-time management teams with a clear vision and that are driven to grow their business and deepen their social impact are ideal candidates.
- Businesses must have at least two years of operations and be revenue positive with a scalable product/service.
Complete the application form before April 15, 2022. Late applications will not be accepted.
For more information, visit ASBC.