Enpact has launched a funding programme, ‘the Empowering Entrepreneurship Initiative’, to support innovative businesses.

It was learnt that the initiative will 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 two programmes, Development Diaries understands, are funded by the Federal Ministry for Economic Cooperation and Development.

A total of 330 founding teams of young, innovative businesses in Egypt, Ghana, Jordan, Indonesia, Mexico and Kenya will be supported with a combination of mentoring, workshops, network building and financial support.

The Covid-19 Relief programme, according to Enpact, will specifically support 25 businesses in Kenya; and the selected businesses will have access to individual mentoring sessions adapted to their needs and direct financial support of up to Sh1.1million per business.

Also, the organisation said that the businesses will have access to global network of over 1000 startups, more than 300 mentors, experts and investors across five continents.

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

The two programmes will operate independently, following different schedules, scales and thematic foci in their respective target countries.

Source: Capital FM

Photo source: World Bank Photo Collection