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Social enterprises in East Africa invited to apply for $150k funding

A call for applications for its third venture cohort of investment in creative entrepreneurs in Rwanda, Uganda, and Tanzania has been made public by the German non-profit Impacc gGmbH. These entrepreneurs will get a smart equity investment to help them expand their firms.

Founded in Germany, Impacc is a worldwide non-profit organization that aims to provide more sustainable development aid by leveraging donations and support as investments in social companies that provide profits and, in the long run, become self-sustaining.

Six cutting-edge social firms will be the goal of the investment, which will range between US $30,000 and US $150,000 and be subject to rigorous due diligence for six to twelve months. The Impacc program promotes growth-stage, creative social enterprises that are committed to include women, enhancing the quality of life for those residing in rural regions, and having a significant positive influence on the 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.

The deadline to apply is March 31.

 

 

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