🚀 The OVO Accelerator Fund - a sustainable support hub for African entrepreneurs 🌟
Join us on this great adventure! 🚀
The OVO Acceleration Fund provides tailored loans to investment-ready African SMEs so they can realise their ambitious growth.
How it works: your contribution is transformed into affordable loans, guaranteeing timely support and guidance for visionary projects. Once repaid, the loan, now plus interest, supports the dreams of other Afropreneurs.
🌍 Collective Momentum:
2023 Impact: OVO facilitated €432,360 in social loans, enabling 18 African SMEs to grow. Social business angels contributed €366,860, with a further €65,500 coming from OVO's Accelerator Fund.
2013-2023: Over the past decade, OVO's support has reached 164 entrepreneurs, benefiting 80 sustainable businesses with a total of €2.5 million in loans. To date, 14 loans have been fully repaid.
Imagine: you decide to make a donation of €1,000. With a tax deduction, applicable from €40, your actual outlay is €550.
🌍 An example?
Ento Agro, an initiative that began with poultry farming and evolved into an agro-ecological farm in Benin.
Founder Franck N'PO Takpara introduced the idea of producing fly larvae meal and high-quality fertilizer from waste.
Having abandoned poultry farming, the project now produces black soldier fly larvae meal to address the shortage of protein in animal feed. By using protein from larvae grown locally from site waste, the project not only tackles the protein shortage, but also contributes to urban sanitation.
Meeting its commitment with admirable dedication, it secured the loan in 2022 and is 100% on track with its repayment plan.
Support from the Accelerator Fund enables entrepreneurs like Franck N'PO Takpara to create jobs and foster innovative, sustainable solutions in agriculture and other sectors. Find out more about this project HERE