Source: Victoria Fakiya/Techpoint
Google for Startups (GfS) has selected 25 African startups for the Black Founders Fund (BFF)’s third cohort.
The Black Founders Fund provides equity-free grants and mentoring to early-stage, high-growth Black-led businesses across Europe and Africa to combat systemic racial inequality in venture capital (VC) funding.
These 25 African startups, representing the diverse entrepreneurial spirit found across the continent, are among the 40 startups chosen from Europe and Africa for the cohort.
Akoma Health, Chargel, Jumba, Susu, EzyAgric, Excel At Uni, Herconomy, Zinacare, and Tushop are a few of the selected startups.
These startups will receive $4 million in funding and support to help them expand their operations.
Each selected startup will receive up to $150,000 in non-dilutive cash awards, up to $200,000 in Google Cloud credits, advertising support, one-on-one mentoring from industry experts, and invaluable connections within Google’s network.
The funding will provide the companies with the capital they require to expand into new markets and take their businesses to the next level, increasing business opportunities and job creation.
These startups are leveraging technology to tackle Africa’s most pressing problems, including providing affordable healthcare, effective logistics, and cutting-edge fintech solutions.
For instance, Tushop is helping to redefine retail in Kenya by providing a platform for group purchases that promote cost-saving and community involvement.
Besides, Herconomy is creating history in the fintech sector by aiming to become the first bank in Africa with a women-focused strategy.
Nigeria has the most grantees (10), with Kenya (5), and South Africa (3) completing the top three. Ghana (2), Uganda (2), Côte d’Ivoire (1), Rwanda (1), and Senegal (1) round up the list.
What’s more, women-led or co-founded startups make up 72% of the group, highlighting the importance of women in shaping Africa’s startup ecosystem.
In March 2023, Google announced three initiatives — Hustle Academy for Women-Led SMEs, the Google for Startups Accelerator Africa: Women Founders Cohort, and a social media series celebrating inspiring women in Africa’s technology sector — to empower women.
Source: Victoria Fakiya/Techpoint
