Enpact launches funding program to support SMEs In Kenya

Enpact launches funding program to support SMEs In Kenya

Enpact has launched a funding program dubbed the Empowering Entrepreneurship Initiative that supports young, innovative businesses with a curated combination of mentoring, workshops, network building and funding.

The call is now open for the COVID-19 Relief Programme, which is part of the Empowering Entrepreneurship Initiative by Enpact, provides 180 businesses in Egypt, Ghana, Jordan, Kenya and Indonesia across all sectors with dedicated mentoring, financial backing, and business development support.

Its goal is to allow you to focus your time and energy on getting back on track. How will they support you? Via a three-folded approach which combines business model adaptation training, financial backing and individual mentoring. Over the course of 6 months, selected participants will benefit from all 3 in an adequately staged and designed process.

While Kenya’s small and medium enterprises (SMEs) continue to create numerous jobs and boost the country’s GDP, they face a myriad of challenges that always hamper their growth. In Kenya, statistics show that SMEs employ more than 80% of the working population in Kenya and play a central role in its economic and growth strategies.

The selected businesses will have access to Individual mentoring sessions adapted to their needs, Direct financial support of up to Sh1.1million per business, expert workshops on crisis management, business development, leadership and growth and access to our global network of +1000 startups, +300 mentors, experts and investors across five different continents.

The Empowering Entrepreneurship Initiative will now operate two programmes designed to deliver economic relief from the COVID-19 crisis: the “COVID-19-Relief-Programme” and the “COVID-19-Relief-Programme for Tourism”.

The first “COVID-19 Relief Programme” is open to businesses from all sectors, with the second, “COVID-19-Relief-Programme for Tourism” specifically tailored for businesses from the tourism sector and sectors relevant to tourism.

The two programmes will operate independently of each other and follow different schedules, scales and thematic foci in their respective target countries.

Legally registered businesses in Egypt, Jordan, Ghana, Kenya, and Indonesia across all sectors with an innovative, globally scalable business model have until August 30th to apply for the program here.