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+31 20 773 5130

Greeneconomy

O-REMIT project launched to train diaspora Angel Investors willing to invest in Morocco, DRC and Senegal

We are excited to announce the launch of the O-REMIT project that has been funded by the Belgian Government and implemented by partners; The International Organization for Migration (IOM)- Belgium and Luxembourg, Ondernemers voor Ondernemers vzw(OVO), Nationale Bank van België and ZidiCircle.

This project aims to offer cost-effective alternatives for remittances and opportunities for investment of savings by tracking  diaspora remittance flows from Belgium into Morocco, Senegal, and the DRC, creating  awareness among remit senders and receivers on these corridors on remittance options, and offering opportunities for diaspora in these corridors to convert some of the remittances into investments through the Venture backers programme that trains aspiring diaspora angel investors on angel investing.

Zidicircle will train diaspora from Morocco, Senegal, and the DRC living in Belgium on how to start functioning as angel investors and connect them to investor-ready SMEs in the three countries. We are excited about this opportunity and look forward to collaborations that extend this important work on remittances, diaspora investments, and supporting Small and Medium Entreprises (SMEs) in Africa.

Zidicircle will further connect the trained diaspora angel investors to selected  investor ready SME’s in Morocco, DRC and Senegal. Through the 8 weeks programme, the diaspora investors will receive tools to become confident and start functioning as venture backers who invest collectively thus minimizing the risk.

The programme will entail;

  • In-depth bootcamp covering Angel l investing basics
  • One-on-one Mentoring from experienced investors from OVO
  • At Least 3 physical meetups in Brussels for a chance to network with peers and investor mentors
  • Investing where they assemble their venture backers club and start investing together under our guidance and ecosystem deal pipeline
  • Chance to become judges in the country specific SME pitch competition
  • Joining the  Zidicircle Coop-Diaspora  investment vehicle and community to enable them invest 
  • Access to the Zidicircle Angel investing school online learning platform

Zidicircle leverages on the knowledge and resources of the diaspora and in-country resources to bridge both the capacity and funding gap for diaspora’s and Africa’s small and medium enterprises.

Fridah Ntarangwi, Managing Partner of Zidicircle shares, 

”It is such a pleasure to extend the venture backers programme to more countries  in Europe and Africa. Many thanks to the Belgian Government for recognizing the African diaspora potential along with their economic power that comes with Remittances and what they can be able to do for both Belgium and Africa. On many occasions IOM has partnered with us on diaspora entrepreneurship and Investments topics, and this moment is particularly important as we are actioning the remittances opportunity towards the Green transition . I look forward to full implementation and sharing the bigger impact of the O-Remit project”.

According to Dorien Deketele,  Project manager for O-REMIT project at IOM Belgium Country office,

”There is a lot of untapped potential of diaspora, who often have an urge of giving back and who are uniquely placed to contribute to what was once their home country. Managing migration can be a very positive story with a win-win for all parties involved including the migrant, the home and host country”.

SME’s in the Green Sectors

This project will target SME’s in the Green economy sectors such as Food and Agriculture, Renewable energy, Water Sanitation and Health (WASH). Manufacturing and digital solutions supporting the Green economy will also be considered.

Morocco cohort

The first group of aspiring diaspora angel investors will be Moroccan diaspora members residing in Belgium and willing to invest in SMEs in their country of origin.

The training by Zidicircle will give the selected diaspora investors an opportunity to participate in entrepreneurship as angel investors and advisors  even though they are not running the businesses themselves. They are also able to promote community capital so that more entrepreneurs can access capital and grow their businesses either nationally or internationally.

The Senegal diaspora investor angel investing programme will follow in Autum 2023 and DRC will be covered in the Spring of 2024.

You can apply for the Morocco programme set to beginning on in June 6th to 4th July 2023 here

As always, we remain committed to our mission of catalysing diaspora driven development through entrepreneurship and investments in Europe and Africa.

Any comments or correspondent please email o-remit@zidicircle.com

Partners

The Belgian government is the sponsor for the O-REMIT project, with as goal to create a more meaningful insight on the remittance flows and the different forms under which remittances leave Belgium.

Established in 1951, IOM is the leading intergovernmental organization in the field of migration and works closely with governmental, intergovernmental and non-governmental partners.

OVO strengthens sustainable entrepreneurship in Africa. They select, guide, finance and monitor African businesses and organizations to help them achieve their goals.

The NBB is the prudential supervisor of the Belgian financial sector and functions as the central bank. Moreover, NBB provides data sources and meaningful insights on banking behaviour in Belgium.

The Zidicircle Coop  is a Diaspora Investments special purpose vehicle that enters into investment agreements with start-ups or small and medium-sized businesses as an investor for and on behalf of the venture backer who have decided to invest in the business concerned. The beneficial ownership from those investments lies with the investors. The investment vehicle was initiated by an organised group of diaspora individuals from Zidi B. V’s Venture Backers programme and other professionals, entrepreneurs and like-minded international angel investors who want to reduce the knowledge, resources and funding gap for startups and small and medium businesses founded by underserved entrepreneurs who are driven by a positive impact on the environment, society and support the sustainable development goals (SDG’s)

Read more

ZidiCircle partners with SNV to launch the GrEEn-Diaspora Venture Backers Programme targeting green angel investors in Ghana and the Diaspora

Investor workshop at a past event

Accra Ghana/Amsterdam The Netherlands, 01-09-2021

Zidicircle and SNV (Netherlands Development Organisation) have partnered to launch the GrEEn Venture Backers programme. The programme aims to equip investors in Ghana and the Diaspora who are seeking to invest in Ghana’s green economy with the knowledge and skills to start investing in green SMEs in the Ashanti and Western regions.

The two organisations strive to build synergies and coordinate activities to support sustainable growth, development and financial inclusion of green entrepreneurs through diaspora investment, mentorship and portfolio management. Therefore, they plan to mobilise and strengthen diaspora, international and local investors to support green SMEs led and owned by youth, women and returning migrants by facilitating access to innovative financing opportunities and solutions.

The collaboration is expected to result in additional complementary activities in future that may contribute to a sustainable green and circular economy in the Ashanti and Western Regions of Ghana, such as the upcoming 3-day regional investment fora.

The GrEEn-Diaspora Venture Backers programme, a four-week virtual training, will focus on green businesses and SMEs in three sectors namely, Food and Agriculture, Renewable Energy, as well as Water, Sanitation and Hygiene (WASH).

Due to the partnership, this programme will be offered free of charge on condition that participants commit to invest a set minimum amount post-training.

Since November 2019, SNV in Ghana has been implementing the Boosting Green Employment and Enterprise Opportunities in Ghana (GrEEn) project. The GrEEn project is a four-year action from the European Union, the Embassy of the Kingdom of the Netherlands in Ghana, SNV Netherlands Development Organisation, and the United Nations Capital Development Fund (UNCDF) and aims at creating greater economic and employment opportunities for youth, women, and returning migrants by promoting and supporting sustainable, green businesses in two selected regions in Ghana: the Ashanti and Western regions.

As part of the GrEEn Project, SNV Ghana runs incubation and acceleration programmes that support green businesses and start-ups at the early stages of development to make better use of natural resources, be energy efficient, properly manage waste and pollution, and operate profitable business ventures.

According to SNV Ghana’s Senior Incubation and Acceleration Advisor on the GrEEn Project, Genevieve Parker-Twum,

“The structure of most investment facilities makes it nearly impossible for early-stage businesses to access critical funding for growth. With funding from the European Union and through the GrEEn Project, we are excited about this opportunity to work with angel investors in Ghana and the diaspora, as it offers many opportunities, unlocks the much-needed affordable funding and brings the investors closer to the SMEs. On our part, the GrEEn incubation and acceleration programmes will focus on supporting the SMEs to be investment ready so they can take advantage of the great opportunity this programme presents“.

Zidicircle has been facilitating investments, mentorship and business incubation services both to the diaspora and in-country programmes in African countries since 2016. In 2021, Zidicircle launched the Venture Backers Programme targeting in-country investors and diaspora professionals who are interested in investing in SMEs in their home countries. In May, Zidicircle partnered with SNV Ghana to conduct the first-ever GrEEn-Diaspora match-making programme.

“To me it’s a dream come true. Having both the local investors in African countries such as Ghana, and the diaspora contribute to sustainable development through venture investing in the green economy is a game changer. With the current funding landscape, very few mainstream investors are willing to take the risks associated with the green sectors, and what SNV is doing with the support of the European Union is commendable. We are plugging in to simplify green investing by a step-by-step learning approach with real case studies and de-risking mechanisms that will support the climate goals”.

Fridah Ntarangwi, Zidicircle’s Managing Director

The GrEEn-Diaspora Venture Backers Programme seeks to further develop and strengthen the green entrepreneurship ecosystem in Ghana. Zidicircle and SNV are partnering to train and support angel investors in Ghana and the diaspora on how to invest in already trained and vetted green start-ups and SMEs.

The programme will run quarterly every year, starting September 2021 until November 2023.

Green Economy

The International Labour Organization (ILO) defines a green economy business as one that contributes to protecting and restoring the natural environment, and reduces the harm caused to it. It is also productive, fair, and secure.

In the context of the GrEEn project, green businesses may include one or all of the following aspects:

·         Efficient use of resources, e.g. energy, water

·         Protection of natural resources, e.g. soil, water, forests and biodiversity

·         Reduction of waste and losses (especially in relation to food crops) along the value chains: e.g. through solar drying and solar cooling facilities

·         Promoting the circular economy, e.g. re-use, upcycling and recycling

·         Reduction of carbon emissions

·         Resilience against climate change, e.g. conservation agriculture and climate-smart agriculture

·         Reduction of waste and pollution

Qualifications

The Ghanaian or Diaspora angel investor should be a motivated and passionate professional with a broad interest in the venture capital space and driven to find and fund exceptional green businesses in the three sectors.

Zidi B.V is a business incubator and investments advisory firm based in the Netherlands that is promoting inclusive entrepreneurship and financing for the Diaspora Entrepreneurs in Europe & SMEs in Africa. Zidi does this by providing training, mentorship and investments to diaspora entrepreneurs who partner with local SMEs in Africa. Zidicircle has headquarters in the Netherlands with entrepreneurship and investments chapters in Ghana, Kenya, Germany and has hosted diaspora entrepreneurs from 24 African countries. Zidi has been recognized by the European Union’s Emen Project as one of the migrant-led initiatives that promote inclusive entrepreneurship in Europe and has been nominated by the European Women Payments & Fintech as Initiative of the Year (2018).

SNV Netherlands Development Organisation is a not-for-profit international development organisation that makes a lasting difference in the lives of people living in poverty by helping them raise incomes and access basic services. We focus on only three sectors and have a long-term, local presence in over 25 countries in Asia, Africa, and Latin America. Its team of over 1,300 staff is the backbone of SNV.

SNV has been present in Ghana since 1992 and operates from its national office in Accra with project offices in the Western, Ashanti, and Northern regions.

The programme is open for applications. Read more and apply here

For any comments or correspondent please email info@zidicircle.com

 or greenghana@snv.org

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