The Climate Gender Equity Fund (CGEF) of the US Agency for International Development and Amazon has announced a $200,000 (Two Hundred Thousand Dollars) grant for outstanding Nigerian females in the green economy. The win is expected to help them scale their businesses.
The funds are from the Climate Gender Equity Fund’s (CGEF) “She Sustains Accelerator Programme,” which supports and empowers pioneer climate-focused start-ups and early-stage green businesses through education, mentorship, and financing.
There will be 56 winners in total. The first two cohorts will each produce nineteen winners, while the third cohort will produce an additional 18 winners.
Clean Tech Hub, an Abuja-based alternative energy firm, manages the She Sustains Accelerator Programme. Interested entrepreneurs have until March 29th to submit their entries. Women-led green businesses can apply to She Sustains using this link: https://tinyurl.com/CTHSheSustains.
Ifeoma Malo, founder and CEO, stated that Clean Tech Hub oversees the process of ensuring proper representation of women and Nigeria in global climate and environmental discourse and activities. She stated that the winners would receive equity-free grants of up to $200,000, access to a global investor network, and long-term entrepreneurship opportunities.
Clean Technology Hub uses She Sustains to catalyse gender-responsive climate innovation by empowering female entrepreneurs to drive meaningful change while addressing critical environmental challenges in Africa and beyond.
The term “green economy” refers to an economy that operates on sustainability principles with minimal environmental impact. Renewable energy sources, such as solar, wind, geothermal, hydro, and biomass, are critical components of a green economy, as are energy efficiency and green infrastructure, such as green roofs, rainwater harvesting systems, and permeable pavements.
USAID says the Climate Gender Equity Fund “will increase access to climate finance for gender-responsive, women-led, and women-benefiting organisations that address climate change.”
CGEF is one of the first major activities of USAID’s Climate Finance for Development Accelerator (CFDA), a $250 million initiative aimed at mobilising $2.5 billion in public and private climate investments by 2030 to fund a variety of climate change mitigation and adaptation solutions aimed at speeding up the transition to an equitable and resilient net-zero economy.
The CGEF, which was launched with an initial $6 million commitment from USAID and Amazon, aims to raise at least $60 million in capital from corporations, foundations, bi/multilateral, and other funders. The CGEF will reach out to women climate leaders in the global emerging markets where USAID operates. Amazon has also committed to investing $50 million in women-led and women-founded climate technology companies as part of the Climate Pledge Fund’s Female Founder Initiative, which will help Amazon meet its net-zero carbon goals.
