GIZ opens second call for applications for develoPPP Ventures

The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH has opened the second call for applications for develoPPP Ventures in Ghana from 14th November to 31st December 2022.

It said the opportunity would support the growth phase of local “Small and Growing Businesses” (SGBs) that had the potential to generate a measurable, positive, social, or environmental impact alongside financial returns.

A statement issued by GIZ said develoPPP Ventures was seeking locally registered SGBs with innovative and scalable business models that had a direct positive impact on reaching the Sustainable Developments Goals (SDGs) and improving the living conditions of the local population.

It said through the instrument, co-financing of up to €100,000, with a potential top-up of €100,000 at a later stage would be provided and a prerequisite that the company acquired additional funds from other sources of at least the same amount (matching-fund-model).

The statement said develoPPP Ventures financing was tailored to lift those companies above the first threshold of becoming attractive enough for commercial (impact) investors and/or financial institutions.

It said the SGB must be registered in Ghana, have a relevant product or service already on the market and could prove first sales figures by providing at least one audited financial statement.

In addition, they must provide sound financial and strategic business planning documents over a five-year period going forward, with the financial planning providing insight into how the funds were used in order to grow, become financially sound and reach break-even.

The statement said the SGB would also receive technical assistance from Innohub, based on their specific needs to maximise their chances of success.

Innohub is a Business Accelerator and Impact Investment Platform that helps SGBs with high growth and impact potential to become investment ready, sustainable and scalable to achieve profitability and social impact.

It focuses on bridging the existing gap between SGBs and impact investors and seeks to address this through integrated innovation.

The statement said top applicants from the first call, which was opened on May 15th 2022, were selected to pitch followed by further shortlisting and then due diligence was conducted.

The final phase was expected to conclude in November 2022 and selected businesses would each be awarded up to €100,000 in grant funding.

‘‘To stand a good chance at being selected, applicants must ensure that they meet the outlined eligibility criteria. Applicants are also encouraged to submit a complete application before the deadline as late submissions will not be accepted,’’ it said.

It called on interested applicants to join the info session on develoPPP Ventures funding programme at 11:00am to 12:30pm GMT on Thursday, 17th November.

Please click here to join this meeting // Thursday, November 17, 2022 or visit this link: bit.ly/3TsrPzN to join when it is time, the statement said.

Source: newsghana.com.gh