The Entrepreneurship Establishment Program (EEP) was established to provide affordable, accessible, and appropriate financing solutions and capacity development support for start-ups and MSME entrepreneurs across Africa. The program aimed to facilitate the growth of successful businesses that can contribute to job creation and inclusive economic growth in the continent.
Start-ups and MSMEs in Africa face significant challenges in accessing finance and capacity development support. This limits their ability to scale their businesses and contribute to the economic growth of the continent. There is also a lack of integration among existing entrepreneurship initiatives, SME support services, and fund instruments for startups/MSMEs.
The EEP addressed these challenges by leveraging modern financial tools, cutting-edge technology, and existing infrastructures under three main pillars: access to finance, platform design, and capacity development.
Access to finance: The EEP evaluated the effectiveness of existing entrepreneurship initiatives, SME support services, and fund instruments for startups/MSMEs. Based on this evaluation, the program designed a technology platform to integrate these resources and amplify their impact. The platform was designed to match various stages of growth for startups and enterprises and tailored to the Bank’s strategy.
Platform design: The EEP engaged in ecosystem mapping to determine gaps in existing programs that could be considered in developing their solution. This involved mapping all stakeholders across the value chain of providing support to startups and MSME entrepreneurs. The program then designed a prototype platform to aggregate all entrepreneurship initiatives across the Bank.
Capacity development: The EEP developed intuitive capacity-building courses for entrepreneurs across Africa, covering entrepreneurs in Anglophone and Francophone Africa. The program also included a mentorship and peer-to-peer learning component.
Impact
By providing affordable, accessible, and appropriate financing solutions and tailored capacity development support, the program has facilitated the growth of successful businesses that can contribute to job creation and inclusive economic growth in the continent. The program has also helped to integrate existing entrepreneurship initiatives, SME support services, and fund instruments for startups/MSMEs, amplifying their impact and making them more accessible to entrepreneurs across Africa.