Women Creating Wealth – Intergenerational (WCW-I) Edition
Call for Applications
Introduction
We are excited to announce the expansion of the Graça Machel Trust’s Women Creating Wealth -Intergenerational (WCW-I) edition in partnership with the Mastercard Foundation. The program aims to transform Africa’s economies through meaningful support to women entrepreneurs to enable them to grow and in so doing, uplift their communities and productive exchange and collaboration between women.
The Challenge
Africa stands as a global leader in female entrepreneurship, with women constituting 58% of the continent’s self-employed population. Despite this, a recent World Bank report, ‘Profiting from Parity’, reveals that women entrepreneurs in sub-Saharan Africa face challenges in achieving substantial profits and scaling their businesses. The pivotal role of Small, Medium, and Micro Enterprises (SMMEs) in Africa cannot be overstated; these businesses are vital engines for job creation, economic growth, and poverty reduction. In diverse sectors such as agriculture, technology, and services, SMMEs contribute to skill development and inclusive progress.
Sub-Saharan Africa grapples with low employment rates, particularly among youth, constituting 23.5% of the estimated 38.1% of working poor individuals. Youth entrepreneurship emerges as a potential catalyst for change, fostering employment opportunities and pulling others out of informality and poverty. Collaboration between women entrepreneurs and youth-led entities further enhances job creation and facilitates the expansion of women-owned SMMEs.
The Graça Machel Trust, in partnership with strategic allies, aims to reshape the narrative around African women entrepreneurs, envisioning thriving businesses that generate wealth and employment. Extensive research underscores the transformative impact of money in the hands of women, addressing poverty and inequality. As women amass wealth, they actively contribute to achieving at least six Sustainable Development Goals, including poverty eradication, hunger elimination, health promotion, gender equality, decent work, and economic growth. Through this dedication, the Trust seeks to empower women as catalysts for Africa’s economic and social transformation.
Our Solution
Women Creating Wealth (WCW) is the Trust’s flagship entrepreneurship program designed to build women entrepreneurs’ confidence, skills, and networks to scale their businesses and transition from income generation to wealth and job creation. The program has already impacted 2000 women entrepreneurs in Malawi, Zambia Tanzania, South Africa, Kenya, Senegal and Uganda.
Our big audacious goal for WCW is to expand it and reach 10,000 businesswomen who are inspired and equipped to create $1 billion (USD) in turnover and 200,000 employment opportunities in 5 years.
We are calling on young and established women entrepreneurs with a vision and ambition to grow their business 10X (times) in the next 5 years and create job opportunities to join our Pan-African Businesswomen Movement!
- Young and established women who are operating a business in at least one of the following countries at the date of application:
- Kenya
- Malawi
- Senegal
- South Africa
- Tanzania
- Zambia
- Age: 18years and above.
- Must have completed secondary school education.
- Have an annual business turnover of between USD 10,000 to USD 500,000 or the equivalent of the local currency.
- Have business experience of at least 2 years of operating any form of business.
- You are not presently engaged in another entrepreneurship support program lasting longer than a week.
- Your business currently employs a minimum of 5 young people and demonstrates the potential to expand further, creating additional job opportunities for the youth.
- Have an operational business or a product/service that can be tested in the market with the potential for growth and impact.
- Businesses can be sole proprietorships, partnerships, companies, cooperatives, or groups.
- Business must fall within any of the following sectors:
- Agriculture
- Tourism
- Manufacturing and Value addition
- Transport and Infrastructure
- Information & Communications Technology (ICT)
- Building & Construction
- Trade and services
- Renewable Energy/Green Energy
- To have structured training on the WCW Online Ignite course with customized coaching, mentoring, advice, and technical
- To equip yourself with the mindset, tools, skills, resources and networks you need to accelerate the growth of your business, so you can create employment for youth.
- To unleash your potential as a woman entrepreneur and a wealth creator.
- To be able to set audacious goals, find accountability partners, and strengthen personal mastery, confidence and resilience to overcome obstacles.
- To be able to get invitations to regular entrepreneurship networking events and round tables to build social and business capital.
- To be able to access a pool of rated service providers to support growth, access to markets and finance.
- After completion of the program, become part of a 3-year dynamic movement led by women entrepreneurs with the ambition, vision, and commitment to create wealth for their families and employment opportunities for young people in their communities.
- There will be self-learning sessions, coaching sessions and peer-to-peer learning opportunities
- There will be virtual networking sessions/roundtables/workshops.
- There will be opportunities for face-to-face workshops and networking sessions.
- This program is free of charge to you!
- Your contribution:
- Invest/access data to study online and engage in the support facilities and business community.
- Keep and respect time with for Peer to Peer and Master coaching sessions and other events of the program.
- Respond to surveys and questionnaires as feedback for programme adaptation and improvement.
- Interact and engage with fellow program participants to make use of all the opportunities offered to help you succeed.
- Structured training on the WCW Online Ignite courses
- Dedicated support through customized coaching, mentoring and technical advice
- Support to develop your toolbox of resources for growth
- Access to a vibrant and supportive Business Community
- Invitation to regular entrepreneurship networking events and round tables to build social capital
- Access to a pool of rated service providers to support growth, access to markets and finance.
- 5 months of blended learning: recommended time commitment is 4-6 hours per week
- 5 months aftercare: 2-3 hours per week
- Upon completion of all required assignments and tasks you will receive:
- A Women Creating Wealth certificate of completion
- An invitation to be part of a vibrant WCW business community to stay inspired and have support on your journey of wealth creation.
- This program is free of charge to you!
- Your contribution:
- Get access to enough data/WIFI to study online and engage in the support facilities and business community.
- Keep and respect the time for Peer to Peer and Master coaching sessions and other events of the program.
- Respond to surveys and questionnaires as feedback for program adaptation and improvement.
- Interact and engage with fellow program participants to make use of all the opportunities offered to help you succeed.
Frequently asked questions
- Attach a copy of company registration documents – if you have them.
- Yes, you can apply if you meet the specified requirements – 1 year in business with a turnover between $ 10,000. and $ 500,000. (USD).
- And if you are a woman aged 18 and above.
- Be available for the training and aftercare program.
- Invest/access data to study online and engage in the support facilities and business community.
- A willingness to learn, upscale, use technological tools and grow your business through peer support, master coaches and mentors.
- Building your business to have access to markets and finance with the support of coaches, mentors, business networks and investor readiness linkages.
- The WCW Foundational program is a 10-month program designed to meet your unique business needs. After successful completion, you will be invited to join the business community.
- Yes, upon completion of all required assignments and tasks, you will receive a Women Creating Wealth certificate as well as be invited to be part of a vibrant, WCW business community to support your journey of wealth creation.
- The WCW is firstly a capacity-building initiative, it is also incentive-driven and high-performing, go-getter entrepreneurs will be further recognized with awards of technical assistance services, market access and funding linkages.
- We target growth sectors that have the potential to create jobs for Africa’s women and youth:
- Agriculture
- Tourism
- Manufacturing and value addition
- Transport and infrastructure.
- Information & Communications Technology (ICT)
- Building and construction
- Trade and services.
- Renewable Energy
- The program is delivered mostly online for entrepreneurs’ convenience.
- Face-to-face networking sessions at specific points of the program will be provided.
- No. Applications received past the deadline will not be considered.
- If you miss the current call – please look out for the next call for application
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