Greeneconomy

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