Twenty local companies are set to split a grant of $100,000 from GIZ after being selected by Innovative Finance Lab (IFL) following a three-month technical assistance training program.
The grant was awarded following a pitch competition for 31 small and medium-sized enterprises (SMEs) and startups who were part of the second cohort of the Technical Assistance Facility (TAF) program run by IFL.
Kamrach, a B2B e-commerce marketplace that connects retailers, manufacturers, SMEs, and farmers across Ethiopia, is among the 20- businesses selected through the program. Its founder, Meron Ephrem, says she was equipped with tools and skills that will help her and the business enhance their receptivity to investments. The training entailed pitch deck creation, business development, and actual pitching to investors, which was capped by a $5,000 grant.
“We will use the grant to expand operations and strengthen our team,” Meron told Shega.
Karmach currently hosts around 2,500 registered users and 17 active vendors, as it looks to grow its user base to the tens of thousands.
A host of other businesses ranging from publishing like Ankobot Books & Publishing to gemstone and jewelry businesses like Lolite, organic fertilizer enterprises like Lemlem, and children’s fashion brand Wolfaby were part of the 20 enterprises selected for the grant.
No Comment Found.