HomeGadgetsMobileGerman non-profit plans to pump up to $150K in social businesses in...

German non-profit plans to pump up to $150K in social businesses in Africa

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In Africa, many innovative startups perish because they lack funding.

However, some businesses get to start well but fold up in the long run due to a lack of capital to scale and improve their services.

Lack of investors is one of the problems faced by many African businesses. And the problem is gradually coming to an end since foreign investors started developing interest in the African market.

Impacc – a German-based non-profit – has announced its intentions to invest in many African businesses.

The non-profit iterated that it would provide smart equity investments between $30,000 and $150,000 to social business with sustainable and high-impact solutions to social and economic problems affecting communities on the continent.

The non-profit specializes in building and scaling businesses in places without structured markets.

It achieves this by targeting poor communities in Africa and joining forces with local business owners with the potential to create local and green jobs – with a franchise approach most times.

Impacc invests in local startups to transform the local ecosystem by leveraging the innovative power of local products and services.

‘’At Impacc, we employ effective business tools to meet social challenges. We identify local businesses with potentials and help them scale their business into other regions through a franchise system,’’ said CEO, Till Wahnbaeck.

Interested businesses have until June 15 to submit their applications for the new venture fund. Aside from funding, successful applicants will also be beneficiaries of business growth support to help accelerate their impact in the community and beyond.

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