50 ORGANIZATIONS THAT WILL GIVE YOU FREE MONEY TO START YOUR BUSINESS

upport 1,000 entrepreneurs from across the continent each year over
the next 10 years.
The 10,000 start-ups and young businesses selected from across Africa will ultimately create
one million new jobs and add $10 billion in annual revenues to Africa’s economy.
The Tony Elumelu Foundation Entrepreneurship Program is open to citizens and legal residents
of all 54 African countries.
Applications can be made by any for-profit business based in Africa in existence for less than
three years, including new business ideas.
To apply, visit http://tonyelumelufoundation.org/programme/

1. SEEDSTARS AFRICA
   Seedstars Africa is a member of Seedstars Group, a Swiss-based venture builder that is active
   and invests in 35+ countries around the world especially in emerging markets in Asia, South
   America, The Middle East and Africa. Seedstars recently invested $330,000 in SimplePay, a
   young Nigerian third-party payment processing company that has created a solution which will
   likely disrupt payment services in Nigeria and Africa.
   Visit www.seedstars.com to apply
2. ACUMEN FUND
   Acumen is a charity organisation incorporated in 2001 with seed capital from the Rockefeller
   Foundation, Cisco Systems Foundation and three individual philanthropists. The Acumen Fund
   invests in entrepreneurs who have the capability to bring sustainable solutions to big problems.
   In May 2014, The Acumen Fund co-invested $1.5 million in Esoko Networks Limited (“Esoko”), a
   Ghanaian-built technology platform that connects African farmers to markets via mobile
   phones. In October 2014, Acumen announced a $1.4 million investment in SolarNow, a
   company that sells and finances solar home systems in Uganda.
   Acumen is always looking for entrepreneurs who have new and innovative models for tackling
   poverty and who also meet their investment criteria.
   To qualify for investment, entrepreneurs must be located in, or have significant operation or
   impact in East Africa, West Africa, India, Pakistan or Latin America.
   Contact Information
   +233 030 298 4098 (West Africa)
   +254 736 073036 (East Africa)
3. AFRICA ENTERPRISE CHALLENGE FUND
   The Africa Enterprise Challenge Fund is a US$ 207m fund capitalized by multilateral and
   bilateral donors (the AECF donors) to stimulate private sector entrepreneurs in Africa.
   The AECF is supported by the governments of Australia, Denmark, Netherlands, Sweden and
   the United Kingdom, as well as the International Fund for Agricultural Development (IFAD).
   The Fund awards grants and repayable grants to private sector companies to support
   innovative business ideas in agriculture, agribusiness, renewable energy, adaptation to climate
   change and access to information and financial services. The AECF makes its funding available
   through competitions. Private sector companies are invited to compete for AECF funds by
   submitting their new and innovative business ideas to a particular AECF competition. The best
   ideas are awarded up to US$1.5m in grants and interest free loans.
   Contact Information
   The Africa Enterprise Challenge Fund
   10th Floor, ABC Towers, ABC Place
   Waiyaki Way, Nairobi, Kenya
   Tel: +254 20 269 9137/8/9
   Email: [email protected]
4. AFRICAN DEVELOPMENT FOUNDATION
   The African Development Foundation (ADF) is an independent Federal agency of the United
   States government that was established to support African-led development that grows
   community enterprises by providing seed capital and technical support.

USADF connects community enterprises with capital and technical support. It helps
organizations and businesses in Africa to create and sustain jobs, improve income levels,
achieve greater food security, and address human development needs.
In 2014 alone, the USADF gave out 336 grants worth over $50 million and impacted over 1.3
million people in Africa.
The USADF focuses on Small holder Farmers, youths, women and girls, and recovering
communities. It provides grants of up to $250,000 directly to hard to reach and underserved
community enterprises that are ready