An outstanding opportunity has arisen for ambitious Nigerian women in the green economy. Thanks to the Climate Gender Equity Fund (CGEF) of the US Agency for International Development and Amazon, these remarkable individuals have the chance to secure a substantial $200,000 in grant funding to advance their businesses.
The CGEF’s “She Sustains Accelerator Programme” is the source of these transformative funds. This initiative is specifically tailored to offer support and empowerment to innovative climate-focused start-ups and early-stage green businesses through education, mentorship, and financing.
A total of 56 winners will be chosen, with 19 winners from each of the first two cohorts, and an additional 18 winners from the third cohort. The She Sustains Accelerator Programme is overseen by Clean Tech Hub, an alternative energy firm based in Abuja. Interested entrepreneurs have until March 29th to submit their applications, and women-led green businesses can apply using the following link: https://tinyurl.com/CTHSheSustains.
According to Ifeoma Malo, the founder and CEO of Clean Tech Hub, her organisation ensures proper representation of women and Nigeria in global climate and environmental discourse and activities. She highlighted that the grant winners will receive equity-free grants of up to $200,000, access to a global investor network, and long-term entrepreneurship opportunities.
Clean Technology Hub uses the She Sustains programme to drive gender-responsive climate innovation by empowering female entrepreneurs to instigate meaningful change, all while addressing critical environmental challenges in Africa and beyond.
In the context of a green economy, the aim is to operate on sustainability principles with minimal environmental impact. Key elements of a green economy include renewable energy sources such as solar, wind, geothermal, hydro, and biomass, as well as energy efficiency and green infrastructure such as green roofs, rainwater harvesting systems, and permeable pavements.
The Climate Gender Equity Fund seeks to increase access to climate finance for gender-responsive, women-led, and women-benefiting organizations that address climate change. This initiative is an integral part of the US Agency for International Development’s Climate Finance for Development Accelerator (CFDA), a $250 million effort with the goal of mobilizing $2.5 billion in public and private climate investments by 2030 to fund a range of climate change mitigation and adaptation solutions, all in order to accelerate the transition to an equitable and resilient net-zero economy.
Kicking off with an initial $6 million commitment from USAID and Amazon, the CGEF aims to raise at least $60 million in capital from corporations, foundations, bi/multilateral, and other funders. The CGEF will proactively engage with women climate leaders in the global emerging markets where USAID operates.
As part of the Climate Pledge Fund’s Female Founder Initiative, Amazon has pledged to invest $50 million in women-led and women-founded climate technology companies. This initiative is part of Amazon’s wider climate objectives and its commitment to achieving net-zero carbon goals.
This outstanding opportunity has the potential to revolutionize the landscape of the green economy in Nigeria by providing a significant boost to aspiring female entrepreneurs in this sector. With such high stakes, the She Sustains Accelerator Programme represents a beacon of hope for those looking to make their mark in the green economy.