…announces recipients of 2024 UpGreyed Her programme
To advance financial inclusion for African women and celebrate Women’s History Month 2024, Grey, a leading fintech, has launched UpGreyed Her, an equity-free grant initiative, .
The initiative, which kicked off on International Women’s Day, received an overwhelming response, with almost 1000 applications from six African countries within two weeks.
The UpGreyed Her Initiative garnered almost 1,000 applications from women-led businesses across Africa within two weeks. The winners received a total of $8,000 in grants to support their business growth.
The applicants came from various industries and regions, and they all demonstrated their passion for growth while outlining their business expansion needs.
Female business owners presented their pitch decks in their applications, outlining their plans for scaling and go-to-market strategies. The primary reasons for applying were to acquire new technology/equipment (40%), build their brand (35%), raise capital (15%), and hire new staff (10%).
A panel of accomplished women leaders from various industries, including Iheakachi Nwabueze, who serves as the Head of Global Marketing and Growth at Grey, Maya Horgan Famodu, Founder and MD at Ingressive Capital, Nishita Devanand, CEO of Savoir Faire Hospitality, and founder of NAVI Africa, and Blessing Abeng, a branding and communications expert, evaluated the applications based on scalability, leadership, business viability, unique value proposition, and social impact.
The panel shortlisted five finalists, each demonstrating innovative approaches, strong leadership, and a commitment to sustainability and inclusivity.
After a thorough selection process, the judges chose finalists based on their unique approaches to improving product competitiveness, developing new product concepts, demonstrating commitment to sustainability, and emphasising diversity. The judges then conducted a live pitch round and selected three winners.
On Friday, 12 April 2024, Grey announced the winners of UpGreyed Her grants through their social media pages. Ameenah Kazeem, the founder of OfadaHub Ltd, emerged as the winner and was awarded a prize of $4,000. Chinazom Arinze, founder of AutoGirl Ltd, and Zigwai Fanda, founder of LadyBambooLtd, were announced as runners-up, winning $2,000 each.
The grant presentation ceremony took place on Monday, April 15, 2024, in Lagos and founders of the winning companies and the entire UpGreyedHer team were present at the event.
In her remark, Iheakachi Nwabueze said that Grey’s objective was to have a meaningful and impactful Women’s History Month celebration. “UpGreyed Her target was to bridge the $42 billion funding gap for African female entrepreneurs and this campaign has successfully met these objectives as three exceptional female business owners emerged winners.”
Nwabueze also highlighted the innovative and impactful businesses spearheaded by women all around the continent. She commended the 773 applicants who followed the process and submitted their applications.
The first-place prize winner of $4,000, Ameenah Kazeem, expressed her gratitude during her acceptance speech. She mentioned that being an entrepreneur in her part of the world is challenging, especially for a woman trying to balance work and home life. However, she was encouraged to have organisations like Grey that believe in female founders enough to invest in them.
Also speaking about the initiative, Nishita Devanand, a judge on the panel emphasised the importance of receiving encouragement and support for one’s dreams. She commended Grey for their inclusive and forward-thinking initiative, which was highly necessary and memorable.
The UpGreyed Her Initiative partnered with Her Network, a global media platform that amplifies women’s voices and impact stories.
